Career Counselling
For Students
Season 3 Episode 39
| Brand | iDreamCareer |
| Company Name | Medhavi Professionals Services Pvt Ltd. |
| Founders | Ayush Bansal, Sqn Leader N Praveen Kr (Retd) |
| Original Ask | 1.10 crores for 1.28% equity at the valuation of Rs. 85.94 crores |
| Deal | 60 lakhs for 1% equity at the valuation of Rs. 60 crores and 50 lakhs debt at 8% interest for 3 years. |
About the Product
iDreamCareer, a leading career counselling platform, offers expert guidance and better college prospects for individuals navigating their career paths. With a team of over 500 experienced counselors boasting 20+ years of experience, they have assisted over 1 million students in kickstarting their career journeys. They provide access to a diverse pool of 550+ career choices, ensuring individuals find the perfect career pathway that aligns with their interests and aptitude. Through personalized psychometric assessments, individuals can identify their personality traits, areas of interest, and aptitude levels, facilitating informed decision-making.
iDreamCareer prioritizes authentic interactions, offering individuals the opportunity to chat with real experts rather than automated bots. This ensures quick and reliable responses to all career-related queries. Moreover, they offer assistance in selecting the right college, whether in India or abroad, ensuring individuals find the perfect fit for their academic and career aspirations. With iDreamCareer’s comprehensive suite of services, individuals can navigate their career paths with confidence and clarity.
Founders & their story
- Ayush Bansal
- Sqn Leader N Praveen Kr (Retd)
iDreamCareer, a prominent career counselling platform, addresses the critical gap in professional guidance prevalent in Indian schools. With a staggering 93% of schools lacking adequate career counselling services, and 77% of students restricted to merely six career options, iDreamCareer’s mission is to broaden horizons and empower students with informed choices. Their comprehensive offerings include awareness about over 560 career options tailored for students from class 8 to 12. Additionally, they provide invaluable assistance with college applications, financing, and scholarship opportunities. With a remarkable track record of mentoring over 10 lakhs students, iDreamCareer serves both B2C and B2B segments, targeting mid and high-income families along with corporate CSR tie-ups.
Their sales split reflects a 60% dominance in B2B engagements, highlighting their success in this segment. iDreamCareer boasts an extensive database comprising information on 25,000+ colleges, 1,500+ exams, and 1,600+ scholarships, ensuring comprehensive support to students navigating their academic and career pathways. Their psychometric assessment evaluates students across 16 factors through a meticulously designed test of 165 questions, facilitating personalized guidance. With a substantial monthly visitor count of 5 lakhs, iDreamCareer offers various programs, starting from a modest Rs 299 for a 30-minute counselling session, up to Rs 4000 for a comprehensive course selection program.
Having raised a total of 13.5 crores, iDreamCareer’s profitability in the B2B segment underscores their sound business model and commitment to fostering informed career decisions among students nationwide.
About the company
iDreamCareer is a collective of passionate individuals with a shared mission: to ensure that the journey through career and college choices for students and their parents is as smooth and enriching as possible. Each member of their team has experienced the same uncertainties and challenges in their own career paths, recognizing the value of having a trusted advisor. The stress, anxiety, and confusion surrounding life decisions after 10th or 12th grade, including college selection and career planning, were instrumental in the creation of iDreamCareer. It serves as a secure environment where individuals can shape their desired career paths.
What distinguishes them is their commitment to providing impartial career guidance that delves into the underlying reasons for personal preferences, facilitating a connection to potential career paths. They are dedicated to making career guidance accessible to all students through engaging, interactive methods. Their patrons have contributed to their recognition as one of the top 200 Ed-Tech startups globally, and they have empowered the career decisions of over 4.2 million students.
Revenue
iDreamCareer has achieved impressive growth in revenue, with sales reaching 3.7 crores in FY 22-23 and soaring to 8.4 crores by October of FY 23-24. Their projected sales for the full fiscal year are estimated at 14.5 crores, reflecting a robust trajectory. The average revenue per user for paid users stands at 14000, underscoring the value proposition offered by their services. Despite the substantial revenue growth, iDreamCareer maintains a disciplined approach to expenditure.
Their monthly burn rate for FY 23-24 is as follows: 40 lakhs in quarter 1, 25 lakhs in quarter 2, and a projected 10 lakhs in quarter 3. This prudent financial management ensures sustainable operations and positions them well for continued success and expansion.
Founders’ Ask
1.10 crores for 1.28% equity at the valuation of Rs. 85.94 crores.
Offers
Ritesh’s offer: 60 lakhs for 1% equity at the valuation of Rs. 60 crores and 50 lakhs debt at 8% interest for 3 years.
Aman and Ritesh’s offer: 60 lakhs for 1% equity at the valuation of Rs. 60 crores and 50 lakhs debt at 8% interest for 3 years.
Final Deal
Aman and Ritesh: 60 lakhs for 1% equity at the valuation of Rs. 60 crores and 50 lakhs debt at 8% interest for 3 years.
