KNOLSKAPE, the gamification and simulation software company which helps organisations in talent transformation through its experiential learning products, has received series ‘A’ funding from Inventus Capital Partners and the HR Fund.
The investment will be used for the purpose of international expansion, product innovation, and building out global partnerships.
Using experiential learning products, Knolscape helps organisations attract, grow and retain talent. Global Fortune 500 companies, Top-10 B-schools and leading HR consulting / training companies use Knolscape’s Gamification and Simulation products and solutions for on-boarding, training, assessments, and talent engagement.
According to the Founder and CEO of Knolscape, there is a huge challenge before HR departments in the corporates to engage the modern millennial generation which is set to occupy half of the global workforce (by 2020). So there is an immediate need for engaging these youngsters.
And microlearning or bite-sized lessons through interactive simulation products and games are a new trend catching up in India which is the focus of Knolscape.
Speaking about the latest funding round, Rajiv Jayaraman, Founder & CEO – Knolscape said,
Both Inventus Capital & The HR Fund with their expertise will help Knolscape in shaping the future of learning in India.
Invictus Capital Partners is a US-India venture firm which has earlier backed startups like redBus, Practo, PolicyBazaar and AasaanJobs. With their extensive experience of scaling up businesses, Inventus Capital will help KNOLSKAPE scale–up their business in India.
Commenting on his investment in Knolscape, Samir Kumar, Managing Director, Inventus said,
Talent plays a key role in the success of companies, and Knolscape, with its technology powered, gamified learning solutions, helps its clients upskill their talent pool. We’re happy to be partnering with a passionate entrepreneur like Rajiv in his journey, and together, hope to build an organization that creates a global impact.
The HR Fund, on the other hand, is India’s first human resources (HR) focused private investment company with a vision to institutionalize HR entrepreneurship.
The founders and investors of the fund are seasoned HR and business professionals with a track record of setting and scaling up HR businesses both in India and abroad. They will bring will bring in their domain expertise and help Knolscape to reach into the global HR community.
Talking about the potential of Knolscape, Utkarsh Joshi, Principal, The HR Fund, said,
According to Gartner, the global market for Gamification solutions will be roughly at $5.5 billion by end-2018. Already, global corporations have used it in areas such as customer engagement, loyalty programmes, sales, and are extending it to their internal operations and employees.
He further added that adoption of such gamification tools is often hindered in India by conventionally ingrained attitudes towards the use of such tools at the workplace but that has begun to change with Gamification now being adopted by various corporates to engage the younger workforce.