Vaave Rebrands as Hoopstr to Transform Alumni Networks into Learning Ecosystems
In a strategic move to broaden its scope, the T-Hub-incubated alumni platform Vaave has officially rebranded itself as Hoopstr. This shift marks a transition from focusing solely on alumni management to developing a comprehensive learning and career ecosystem powered by alumni networks.
Funding and Expansion Plans
Hoopstr is actively seeking to raise between $3 million and $5 million in pre-series A funding within the next year. This capital will be instrumental in building out its enhanced ecosystem offerings, according to Founder and CEO Paresh Masade.
Recently, the startup secured Rs 6.6 crore in its first major external funding round. The investment came from Aditya Vuchi of VCMint and Raj Narayanam, Founder and Executive Chairman of Zaggle, through RAN Ventures.
Company Background and Growth Trajectory
Founded in 2011, Hoopstr currently collaborates with over 1,200 institutions, connecting 4.9 million alumni across 28 countries. The company employs 80 people and anticipates achieving 80% to 100% year-on-year growth.
Over the next 18 months, Hoopstr plans to expand its reach to 2,500 top institutions in India. Additionally, it is preparing for a significant sales expansion across 12 educational clusters in the country, with intentions to increase its workforce to 120-150 employees, primarily in sales roles, within the next year.
Strategic Focus and Future Initiatives
The rebranding to Hoopstr reflects a renewed focus on enabling educational institutions to transform alumni communities into active networks. These networks will facilitate mentorship, internships, scholarships, and career guidance.
Looking ahead, Hoopstr aims to partner with 30 select colleges over the next three years to generate 10,000 internships and facilitate scholarships worth Rs 100 crore. The platform's model emphasizes alumni activation through various channels, including digital engagement, feedback systems, mentorship programs, events, and career support services.
