TriByte Technologies is a Bengaluru-based company that offers an interactive, SaaS-based learning management system (LMS). The B2B edtech startup was founded in 2010 by Seethaprasad Mandikel.
While the epidemic was a blessing in disguise for online learning firms, it was an unpleasant awakening for educational institutions that had to adjust swiftly. This created a window of opportunity for edtech businesses like TriByte Technologies.
Seethaprasad Mandikel, Founder and CEO of TriByte technologies, says, “Most educational establishments are used to working in the traditional classroom-based method.”
Prior to COVID-19, online instruction was a luxury, but during the epidemic, it became a need. During this time, our company grew significantly.” TriByte Technologies, a Bengaluru-based B2B edtech business founded in 2010 by Seethaprasad, supplies educational establishments with a SaaS-based, interactive learning management system (LMS).
The LMS is a versatile platform that offers self-paced learning, online tutoring, and large-scale evaluations. It is available in eight different languages: Bahasa, French, Tamil, Kannada, Hindi, Telugu, and English.
TriByte’s platform now has over two million users. Seethaprasad was a founding member of various firms before founding Tribyte, including Talisma, Robert Bosch India, and Microsoft Corporation. He was also one of the first members of PI Corporation.
Seethaprasad realised that the focus of education needed to be more on learning and less on “studies” after years of working in edtech departments. TriByte began as a platform focused on video engagement for both instructional and entertainment objectives. In 2012, the business narrowed its attention to edtech and began incorporating its proprietary technology LMS as a fundamental element on the video platform. During the previous decade, the firm has solely focused on education, particularly learning engagement and delivery.
The firm, which was bootstrapped with a Rs 10 lakh initial investment, provides LMS to educational organisations such as test prep schools, colleges and universities, skill-development institutions, and corporates for training. Seethaprasad says, “The platform is primarily oriented at India, where internet access is a major concern. The platform may also function totally offline, which means that the learner can download the app and use the instructional content while not connected to the internet. When they return to the platform, it will instantly synchronise all of the information depending on what the student used—a feature that distinguishes our platform.”
The firm offers browser-based access to learning materials, an app for both Android and iOS smartphones, and a dashboard where live lessons may be held. He says, “After the epidemic, kids are returning to physical centres to take examinations.” Those outcomes are also possible with our platform. It combines them all and provides a consistent rating across demographics. It also does gap analysis by comparing which topics the learner needs to learn more about.”
TriByte assesses a monthly cost to educational institutions on an individual basis, depending on the number of monthly active users or monthly registered users provided in the terms of the agreement.
Foundations and universities, on the other hand, are charged on a yearly basis. TriByte sets a maximum amount they may be paid for a given number of users. According to TriByte, income has increased by 20-25% year on year.
TriByte presently has collaborations with 45 educational institutions around the country. Prior to COVID-19, the startup’s yearly revenue was roughly Rs 4.5 crore. The figure has now risen to Rs 7-8 crore every year.