Online education startup UpGrad has acquired job skilling platform Acadview Software Pvt. Ltd for an undisclosed sum, UpGrad said in a statement on Monday. UpGrad, promoted by entrepreneur Ronnie Screwvala, aims to extend its online learning platform to the undergraduate level through the acquisition.
Founded in early 2015, Acadview seeks to upskill graduates with in-demand technologies through live online courses and industry projects, enabling better employment opportunities. It claims to have trained more than 3,000 students in 2017.
“UpGrad’s highly engaging online learning solution along with Acadview’s solid presence within the college space in India will allow us to deploy learning solution for college students at a massive scale,” said Screwvala and Mayank Kumar, co-founders at UpGrad, in a joint statement.
Gurugram-based Acadview had raised an undisclosed amount of funding from angel investors in India and the Silicon Valley. It has also partnered with over 80 universities and colleges in north India.
“Equipping students with engaging content, personalized coaching, hands-on experience with real world projects and guidance from subject matter experts in the industry can bring a step change in the quality of workforce available to employers. We believe in UpGrad’s vision, and feel that we have found a perfect cultural fit for our mission,” said Himanshu Batra, founder and chief executive at Acadview.
The recent transaction marks Upgrad’s second acquisition in two years. It is looking to capture a large chunk of the $20 billion education market in India.
Founded by Screwvala, Kumar, Phalgun Kompalli and Ravijot Chugh, UpGrad offers online courses in entrepreneurship, digital marketing and data analytics, among others, for working professionals.
UpGrad competes with foreign online education start-ups, including Coursera and Udacity, and home-grown ventures such as EduReka and Simplilearn.
Mint reported in October 2017 that UpGrad is also looking at to enter foreign markets in West Asia and South East Asia, and had committed ₹300 crore to fund the expansion. The corpus is three times the amount it had invested in the Indian market.
Source: Mint