Qwikskills: 100X.VC Investment Thesis



 

Introduction

Cloud computing has been a significant technological advancement in this century. It's no surprise that Cloud technology is quickly being used by companies and corporations due to benefits such as accessibility, flexibility, efficiency, and exceptional user ease. Not only do corporations gain greatly from Cloud technology, but so do normal people. The phenomenal rise of cloud technology has resulted in a significant surge in the demand for cloud experts. Cloud skills can be learned and validated by various certification exams conducted by google, amazon Microsoft, etc. 

There is always a hassle involved for professionals preparing for cloud certification exams. The professional preparing for cloud certifications not only needs a good understanding of the concepts but a sufficient amount of practice to pass these exams.

Compared to traditional on-premises IT, and depending on the cloud services organizations select, cloud computing helps organizations to reduce IT costs, scale more easily and improve agility. Hence, organizations look for candidates who have cloud certification. The candidates with certified courses have an edge over others, thus having greater chances of getting higher compensation and career growth. 

There are a lot of courses available on the web to learn cloud computing but when it comes to practice tests, there are very few available. Many users face the challenge of passing these exams in their first attempt. Adding to the misery, the students are not able to understand the shortcomings and areas where they need improvement. 

Varun Mahajan and Harit Verma saw the gap and introduced QwikSkills in 2020. QwikSkills is a Seamless Practicing Platform for Tech Certifications. There are effective practice tests curated by experts to help students and professionals gain true mastery over Cloud Certifications. The tests are available in 6 categories namely: AWS certifications, Google cloud, Microsoft Azure, salesforce certifications, VMWare certifications, and cloud security certifications. The MVP was built in around 6 months.

How did the founders come up with the idea?

‘At the heart of our mission is the idea that good preparation comes only by good practice.’ - Founders at QwikSkills

The idea of QwikSkills was born when its founders Varun and Harit struggled to find good practice tests before their certification exams. They found out that there was a lack of intelligent test platforms that offer quality and engaging practice tests to prepare candidates for the exams. That’s how QwikSkills was born.

Market Opportunity

The outbreak of the COVID-19 pandemic has accelerated the deployment of cloud computing infrastructure. To adapt to the new normal, businesses dramatically increase their IT spending, particularly in cloud services. Cloud computing enables easy access to online data backup solutions, which are more important in today's corporate paradigm, which has shifted to remote working. So, as more and more companies invest in cloud infrastructures, a job opportunity in the cloud industry is gaining momentum. Hence, people opting for certifications will grow.

By 2025, the cloud computing market will have grown from $371.4 billion in 2020 to $832.1 billion. Cloud computing-trained professionals will continue to be in high demand. Having cloud certifications enhances one's earning potential and job security significantly. 

The competitors of QwikSkills primarily focus on learning from video content only. Their content is not focused on gaining practical knowledge and hence it’s difficult to pass the certifications in the first attempt.

100X Thesis

QwikSkills is a subscription-based model offering access to all the certifications at just $14.99 per month. By collaborating with corporates for their employees and teams to get certified as well as targeting individual IT professionals, QwikSkills aims to revolutionize the cloud computing education market. The practice tests come with detailed explanations and are updated regularly to help users improve their performance and get an edge over others. QwikSkills also brings hands-on cloud labs to help users learn in a real cloud environment. In addition, doubt solving sessions with cloud experts are to be added to make the practice solution complete.

Considering the business idea and model, QwikSkills has a huge potential in terms of providing a one-stop solution for candidates seeking to be successfully certified in their first attempt.  

Conclusion 

The market is growing exponentially in terms of demand by companies for these certified professionals and hence a derived demand for a platform like QwikSkills. 100X.VC sees great potential in the business and believes in the capability of the founders to scale up. We are excited to be a part of this journey.






- 100X.VC Team

Published on: October 15, 2021