Couple from Madhya Pradesh hit big with acquisition by EdCast
THE HANS INDIA |
May 26,2016 , 12:26 PM IST
Now based in Seattle, Sales-University to expand its enterprise learning to Sales organizations.
Acquisition will add 100,000+ sales people and fortune 500 companies to the list of growing EdCast Network.
EdCast, the fast growing knowledge network for enterprise and personal learning, is thrilled to announce that it has agreed to acquire Sales-University (http://SalesU.io), the Seattle based creator of a revolutionary sales training app used by over 100,000 sales people and fortune 500 companies
The acquisition agreement comes just a month after EdCast announced a $16MM Series B round of funding led by GE Asset Management, Softbank Capital, and demonstrates significant growth in EdCast knowledge network adoption at Fortune 500 companies.
The need for a social learning solution for Sales organizations is a $20 Billion market opportunity yet, 87% of information learned at sales training is lost after just 30 days as per ASTD (American Society of Training & Development). Therein emerges a need, for continuous sales training.
Enter Sales-University, a company now based in Seattle, but founded in MP India. Initially called WAGmob, Sales University was set up by Kalpit Jain and Kavita Jain. They were both at Microsoft, but came back to Madhya Pradesh, India, in 2010 to set up WAGmob, building consumer facing apps in the field of education. They evolved gradually into a Sales Training company.
Today, Google, Samsung, Snapdeal and many large enterprises are customers of Sales-University.
"Access to curated and personalized knowledge based on the roles and job function is the new competitive advantage in the rapidly changing knowledge economy," said Karl Mehta, Founder & CEO, EdCast Inc. "Sales-University is the leading innovator in the Sales training category and we are excited to have their platform, customers and team to join the EdCast Knowledge Network”
Kalpit Jain, Co-founder & CEO of Sales-University, said "EdCast is leading the new category of Knowledge Network for enterprises across industry verticals and job functions. We are thrilled to be part of this fast growing market leader in an exciting space that can help the digital transformation of enterprises worldwide.”
Terms of the acquisition were not disclosed.