By Jim Dalke.
Willis Tower might not be the most obvious place for a fast-growing Chicago tech startup to set up shop, but that’s exactly where BenchPrep is headed to keep up with the company’s increasing headcount.
BenchPrep, an e-learning startup that helps large education companies create online test prep tools for students, is moving into a new 15,000-square-foot space on the 57th floor of Willis Tower. The new office will more than double the startup’s square footage at its current office on South Jefferson Street. The company plans to move into the new space in December. With any startup, a financial model is one of the most important things to do, so hopefully, with this new move, they have also revised their financial model and seen what else they can do to it. To learn more about the various financial models that are out there, websites such as earlygrowthfinancialservices.com can be of assistance where needed.
The move comes at a time of fast growth for the seven-year-old company. CEO Ashish Rangnekar declined to give specific revenue figures but said the company is profitable and cash-flow positive. BenchPrep will be at 40 employees by the end of 2017, up from 17 last year. And it plans to roughly double its current headcount by 2018, Rangnekar said. The startup has raised $8.2 million from well-known investors like NEA, Revolution, and Chicago’s Lightbank.
BenchPrep’s customers are large educational training companies continue to the article
