20 May , 2022 By : monika singh
Career-counselling platform LauchMyCareer (LMC) plans to introduce new counselling packages for college students, working professionals under the package name Personify; and study abroad aspirants. “The company further plans to add three million active users to the platform through multiple channels by the end of 2022,” Ankur Aggarwal, co-founder and managing director, LaunchMyCareer told FE Education Online.
The company has created two streams of revenue under business to business (B2B) and B2C models. Under B2B, it earns revenue from sponsorship of live counselling sessions or workshops for its students, from schools. As for B2C, it earns through subscriptions from students or parents who can directly visit the LMC platform, register online. Post opting for a free personality test, users can choose to pay a live counselling session. Presently, LMC claims to offer two packages – Pathway for students between sixth grade to 10th, priced at Rs 10,000 and Pursuit, which runs on an annual model and allows students in 11th and 12th grade to subscribe for Rs 18,500.
Meanwhile, the company refused to comment when asked about the number of students they have counselled in a year and revenue generated in its first year. Regulatory filings accessed by business intelligence platform Tofler show that the company recorded zero revenue from operations in its first year and posted a net loss of Rs 1.39 lakh in FY21.
The ed-tech startup has partnered with over 2,000 National Independent Schools Alliance (NISA) schools, a platform for budget-private schools to introduce counselling in the school’s curriculum and 6,000 Common Centre Service (CSC) academies with access to 2.6 million students, an initiative by the Ministry of Information Technology to impart digital skills across rural sectors of the country. “We would be launching the LMC platform across all NISA schools in the next five years,” Aggarwal added.
The ed-tech startup started its operations in India in May 2021 and helps learners discover their interests and potential in terms of their career choice through virtual reality. The company also helps students build the required skill set through their learning hub, which comprises courses on different subjects such as soft skills, STEM, and language learning.