TutorVista.com Secures 2.5 Million From Manipal Education
Partnership to bring low-cost, quality supplemental online education to India. India-based TutorVista.com, the leading online tutoring company, announced today its receipt of a strategic investment of $2.5 million from one of India's top-ranking educational conglomerates, Manipal Education Group.
New York, NY (PRWEB) November 8, 2007 -- India-based TutorVista.com, the leading online tutoring company, announced today its receipt of a strategic investment of $2.5 million from one of India's top-ranking educational conglomerates, Manipal Education Group. Dr. Ranjan Pai, Manipal Education and Medical Group (MEMG) CEO, joins TutorVista as an independent Director.
TutorVista.com offers tutoring and homework help for K-12 and college students. TutorVista.com brings an innovative, technology-centered service into its collaboration with Manipal. By using TutorVista, students can supplement their education and maximize academic aptitude by accessing course materials and test preparation materials online. TutorVista.com provides one-on-one tutoring to students from throughout the United States, United Kingdom, Canada, Australia, Turkey, Japan, South Korea, Finland, Middle East, Singapore and China. Tutors, most of whom have Masters degrees, are available around the clock.
"We are delighted to have Manipal Education as our investment partner. This partnership underscores our market competitiveness and enables us to meet the growing demand in online tutoring and test preparation," said K. Ganesh, CEO of TutorVista.com. "Manipal Education shares our vision of breaking down economic barriers in order to grant students from every walk of life a chance for academic success."
Manipal Education's decision to partner with a personal online tutoring service stems from a desire to take advantage of the latest in technology, in order to increase the reach and effectiveness of primary and secondary school education. TutorVista.com employs a cost-effective, lateral approach that makes education accessible for students from every economic background. This combination will jumpstart TutorVista.com's plan to provide affordable, quality education throughout India.
"This investment is a step forward for Manipal Education and furthers a commitment to creating a global footprint," said Dr. Ranjan Pai, CEO of Manipal Education and Medical Group. "The partnership is mutually beneficial and works towards our shared goal of making education completely pervasive."
A global leader in online tutoring and test preparation services, this is the third round of investments for TutorVista.com. TutorVista.com provides one-on-one tutoring and homework help in math, English, science and other subjects. In December 2006, Lightspeed Venture Partners, Sequoia Capital India and Silicon Valley Bank invested $10.75 million in the company. Sequoia Capital India made an initial $2 million investment in June 2006.
About TutorVista.com
TutorVista.com is an online tutoring company that provides affordable tutoring and test preparation worldwide. TutorVista.com uses technology to bring high-quality, convenient tutoring right into the student's home and uses global education resources to make tutoring affordable. TutorVista.com is committed to providing solutions for educational problems like declining test scores, a shortage of teachers and a lack of economically viable supplementary education and test preparation. The first to implement a flat pricing plan, TutorVista.com's fees are $99.99 per month for unlimited online tutoring in all available subjects. To learn more about TutorVista.com log on to www.TutorVista.com
About Manipal Education
Manipal Education is among the largest and most diversified providers of academic and education services in India. Included under the group's umbrella are two universities (Manipal University and Sikkim Manipal University); over 30 other educational institutions in India; and campuses in Antigua, Dubai, Malaysia and Nepal. There are over 125,000 students studying undergraduate, graduate and doctoral programs in Manipal. To learn more about Manipal Education log on to www.manipalgroup.com
For further information, please contact Marissa Hermo at 212-741-5106 x234.
Media Contact:
Marissa Hermo
RLM Public Relations
212-741-5106 x234
vista @ RLMpr.com
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