The face of the Indian learning and development industry is changing. With expedited digital transformation, Indian organizations have revamped their approaches to upskill their employees and provide them with learning opportunities to excel in their professional lives. Employee training is not a new phenomenon, yet it is continuing to evolve with corporates embedding technology solutions and preparing their people for what is needed in the future.
The Indian learning and Development space is dominated by B2C SaaS platforms to fulfill the needs of the corporates. Most of the players in this segment are US-based companies offering high-priced packages in addition to the learning content that is not relevant for Indian users – especially for BSFI, behavioral, sales, and leadership training that makes only a 20% to 25% adoption rate. Considering the need to ensure user engagement and relevant content, Skills Caravan – an ed-tech platform enhances corporate learning engagement to 70% to 75% by bringing a B2B learning platform.
The SaaS-based B2B learning platform enables personalized learning with 100% engagement and onboarding support. Incepted in 2022, the platform has already entered into prominent associations with Shopper stop, Stride Climate by Macquarie, MG Motors, etc. within three months since its inception.
Commenting on the present L&D space, Sarita Chand – Founder of Skills Caravan said, “Lifelong learning has become one of the fundamental themes in a digital society. For decades, earning degrees or adult education has allowed professionals to secure an increase in salaries and employment. However, in the digitally driven economy, we at Skills Caravan work at the micro level transformation of professionals through a deliberately curated content library for B2B space that makes learning personalized and highly engaging.”
Powered by Artificial Intelligence (AI), the cloud-based Skills Caravan works on an annual subscription model. As per the subscription, the companies pay an annual fee based on the number of employees. The personalization engines of the platform make learning a “Daily toothbrush” habit for Corporate learners. It focuses on byte size learning and its daily micro-learning recommendations (like the Instagram and TikTok reels) have higher adoption rates.
“Skills Caravan works as a one-stop solution and go-to platform for HRs and employees, bringing all types of learning sources - internal, external, online, offline, certified, continuing education, and credentialing from top universities on a single platform,” she added.
In three months, Skills Caravan has catered medium size companies operating in the Indian market. Presently, the platform is emphasizing its hiring sales and marketing to launch the product with large-scale enterprises and US-based small and medium companies. The platform projects to expand its clientele with 200 paid companies and 1,00,000 learners by end of next year.
The Business Journey and Projection
The present B2B corporate learning & development landscape is unorganized and scattered. The HR managers deal with multiple vendors for LMS, eLearning Partners, Classroom Training (subject matter experts), credentialing courses for Top management, etc. Even the employees are logged into multiple learning platforms. Skills Caravan works as a one-stop solution and go-to platform for HRs and employees, bringing all types of learning sources - internal, external, online, offline, certified, continuing education, and credentialing from top universities on a single platform.
Skills Caravan is a bootstrapped platform that is now in talks with marquee angel investors and Venture Capitalists. It is looking to close its seed funding deal by the end of April 2023. On the other hand, the platform has a base of 1000 paid users and gearing up to record a 5X growth in the coming 6 months.