In 2006, four friends started a group named “TeraMeraIdea”. They also added other internet users to the group and launched a treasure hunt program. The idea was to gain new knowledge via qualification. In the treasure hunt program, different quizzes were designed to check users’ knowledge in different subjects including History, Geography, science, etc.
The idea became an instant hit and they shifted it to Facebook to add more users. With this experience, they understood that a topic can be made interesting through interactive and interesting activities.
In 2011, these friends co-founded MindTickle to make boring product training products for both staff and companies both.
Beginning of MindTickle
With the success of the treasure hunt program, MindTickle CEO and co-founder Krishna Depura and his friends came up with an idea to revolutionize corporate training.
Talking about his initial experience with the qualification based treasure hunt program, Krishna said:
“At the same time, Facebook and Zynga were receiving hype as well. We realized that whenever knowledge is provided in a very engaging manner, in a manner where people can find it exciting, then people will use it a lot. That is when we decided to experiment with this field.”
Founded in 2011 by Mohit Garg, Krishna Depura, Deepak Diwakar, and Nishant Mungali, MindTickle converted staff training to a gamified version to make it engaging for the audiences. And, the startup got amazing results.
Within two years of its journey, over 55,000+ staff in various firms became part of gamified MindTickle training and it positively affected their productivity, as claimed by the startup.
In 2013, MindTickle helped software giant HCL in retaining 60% of staff from the new recruitment drive. It also increased MakeMyTrip’s staff engagement rate by 26%. MindTickle unique training method reduced SAP’s employee training cost by 60%.
Further Growth of MindTickle
MindTickle was the only firm that started this unique idea of engaging staff in the training with a unique presentation. The startup became popular globally and it was also awarded as the number one software product for the enterprise globally. The firm started providing its services in India and Silicon Valley both.
Talking about the inial journey, Krishna said:
“We had tried to make learning fun, while other people were trying to do a lot of things in the education space and academic space. We were trying to sell social learning, gamified learning and we were trying to do that at an enterprise level. Not everyone was a believer.”
It has been quite a pioneering journey – one that’s filled with dedication and perseverance. The team has constantly demonstrated a high level of intensity on both its product and its people. On both fronts, MindTickle has strived hard not just to match or marginally be better than others, but to truly be a trendsetter.
MindTickle expanded its operations from engaging learning to skills development, deeper coaching, and training models depends upon the specialization of the staff. The company used Olympic methodology to train corporate staff. It designed unique training programs for different specializations the way every sport requires different training to get success.
Founded in Pune, MindTickle currently has its headquarter in San Francisco, USA. Other than India and the US, the startup also has its office in London. The company has over 475 staff as per the latest update in June 2021.
Overall, the company has raised over $181 million in different funding rounds. It concluded the last funding round of $100 million led by Softbank in November 2020. Accel Partners, New Enterprise Associates, Norwest Venture Partners – NVP, Canaan Partners, Qualcomm Ventures, Accel, Norwest Venture Partners, Canaan, NewView Capital, and Cannan Partners are the other investors of MindTickle.
Currently, the startup has a valuation of $500 million after the completion of the November financing round. As per the latest internal reports, the startup is in advanced talks to raise $100 million from Softbank. If the current financing round is closed, MindTickle will join the unicorn club at a valuation of $1.1 billion.