This is the news coming that Edtech company Unacademy online learning platform acquires Swiflearn.
The Edtech online learning platform Unacademy on Tuesday said that it has been acquired online tuition platform Swiflearn for an undisclosed amount.
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The acquisition is in line with Unacademy’s plans to strengthen its position in the K-12 category and optimize its product offerings in the space, a statement said
Founded in 2019 by Abhinav Agarwal and Anand Bakode, Swiflearn is an online platform for academic courses, which provides personalized home tuition experience to students of grades 1-10 in CBSE and ICSE boards.
Currently, the platform offers online tuition classes for English, Mathematics, and Science, while also focusing on other areas of learning including mental ability, life skills, and Vedic Maths.
“Swiflearn is building a high impact personalized and scalable learning product that will change the way students learn. Abhinav, Anand, and the team have developed a great product that is seeing tremendous traction. We have a shared vision to make quality education accessible and affordable for students of all ages, and we are delighted to have them as part of the Unacademy Group,” said Gaurav Munjal, chief executive officer (CEO) and co-founder at Unacademy Group.
Swiflearn currently has over 1,500 teachers. The platform hosts over 30,000 classes every month and has over 120,000 registered learners
“We are very excited to join Unacademy, since our strengths of pedagogy, content, and personalised classes combined with Unacademy’s product, brand and reach will make it a strong value proposition in the K-12 market,” said Abhinav Agarwal, co-founder, Swiflearn. “Anand, I, and the team of Swiflearn are looking forward to working closely with the entire team at Unacademy and learning from them.”
This will be the 11th acquisition for Unacademy since its inception. The SoftBank-backed company had acquired Handa Ka Funda, TapChief, NeoStencil, PrepLadder, Mastree, CodeChef, Coursavy, Kreatryx, Wifistudy and Rheo TV.
Most recently, Graphy, an Unacademy Group-owned company, had acquired edtech platform Spayee for $25 million.
Four months ago, Swiflearn had raised $3 million in pre-Series A round led by Stellaris Venture Partners, Venture Highway, and notable angels such as Varun Alagh, Ramakant Sharma and Alok Mittal. The startup has raised over $4 million since its inception in 2019.Edtech company Unacademy online learning platform acquires Swiflearn.
Unacademy rival, Byju’s has been rapidly expanding its operations with an aggressive acquisition strategy. The startup, which has estimated to have raised over USD 1.8 billion since the beginning of the pandemic, had acquired Aakash Educational Services Ltd for nearly USD 1 billion earlier this year. It has also bought Great Learning and US-based Epic, among others.