Foradian Technologies is a leading provider of enterprise software solutions for the education industry, and yesterday they announced that they have raised $2 million in funding. The funds came from William Bissell of Fabindia, and they will be applied directly to Foradian’s software, Fedena, as they seek out new global markets.
“This funding will allow us to expand our team, improve the product further and scale for future growth,” says Unni Koroth, CEO of Foradian Technologies. “It will also give a fillip to our vision of building an ecosystem around Fedena. William [Bissell] will be an invaluable addition to the board as we target to be a billion dollar company by the year 2020.”
The Fedena software is a multipurpose school and campus management system that has established a presence in the global ed-tech market over the past three years. To date, it’s used by more than 40,000 schools and colleges in over 100 countries worldwide.
“Educational institutions are increasingly becoming complex organizations,” says Bissell, with regard to his investment. “I see Fedena bringing about a similar revolution in schools and colleges as Tally has in the financial world.”
Whether it’s administration, management, or learning activities, Koroth has geared Fedena to manage students, teachers, employees, courses, and systems related to running an educational institution. And with over 65,000 total downloads already, the team is excited to see what their expansion into new, global markets brings.