Emversity, a 2023-launched Indian workforce-training startup, has secured $30 million. This funding will be used to magnify its pipelines of job-ready training should dredge. The startup focuses on filling “grey-collar” positions requiring practical training and credentialing. In doing so, it again places itself firmly at the center of the evolution of skill development in this country.
Vivek Sinha is the founder of Emversity. He helped guide deliver Unacademy, an Indian edtech unicorn and former product leader’s vision as former chief operating officer. With a deep-rooted commitment to the ed-tech industry, Sinha is committed to bridging the skills gap across industries. Emversity’s training programs are focused on high needs industries like healthcare and hospitality where hands-on skills development is critical to achieving successful outcomes.
In addition to our own industry training program, Emversity has created innovative partnerships with 23 universities and colleges on over 40 campuses. This extensive network empowers the startup to provide customized training solutions that address the unique needs of in-demand industries. Last year, the company’s revenue was evenly split between university-embedded training programs and short-term certification courses, highlighting its diverse offerings.
Sinha urged participants to consider irreplaceable human roles in industries such as healthcare, even amid the threat of artificial intelligence. He noted how AI could help cut a nurse’s administrative burden in half. This encompasses functions such as entering patient information and operating electronic health records. AI might be working against you when you still expect one nurse at an ICU for every two beds.
The focus areas for Emversity represent some of the more critical healthcare occupations, including nurses, physiotherapists and medical lab technicians. The rapidly growing startup cares about more than just healthcare. It further pivots to the hospitality industry, preparing people to work in guest services and food and beverage management. This unique combination meets the rising demand for highly qualified professionals in public and private sectors.
Perhaps the most remarkable aspect of Emversity’s work is their model of career counseling for high school students. Last year, this platform produced more than 350,000 questions. In itself, such a platform would have created more than 20% of the startup’s revenue. Its impact is immeasurable in assisting students discover the best pathways to successful careers.
Emversity runs on remarkable 80% gross margins and keeps customer acquisition cost under 10% of revenue. By focusing almost exclusively on organic channels and eschewing performance marketing, the company was able to create a different class of business model.
Currently, Emversity is in deep discussions with one of the largest engineering, procurement and construction (EPC) firms in India. The goal here is to establish, design, and launch these training initiatives to be role specific, targeted skill sets to meet the immediate needs of the industry. This new collaboration would continue to bolster Emversity’s growing national acclaim as a leader in the field of workforce training.