Edtech unicorn Unacademy has acquired Coursavy, a test prep platform for Union Public Service Commission (UPSC) examinations for an undisclosed amount, the company has announced on September 24, 2020.
The acquisition comes on the heels of a large fundraise, where Unacademy has raised $150 million in a round led by SoftBank, making the company become a unicorn at $1.45 billion valuation. The latest acquisition will help the Bengaluru-headquartered edtech major to strengthen its position in the UPSC test prep market.
Commenting on the latest acquisition, Gaurav Munjal, Co-founder and CEO, Unacademy, said in a statement,
“As we grow and strengthen our position as the leader in the test prep market, bringing Coursavy on board will play a strategic role for Unacademy in the UPSC examination category. At Unacademy, we are striving to democratize education in India and this acquisition is a step in that direction. I look forward to working with Vimal and the Coursavy team as they become a part of the Unacademy Group.”
Launched in 2019 by Vimal Singh Rathore, Coursavy was started with the vision to make high quality and affordable educational content accessible to UPSC aspirants through technology. It developed a scalable learning platform and process which solves the challenge of a lack of discipline in learning. The platform has also replicated the personal guidance and engagement a student received in an offline setup, hence promoting a community learning environment.
Coursavy conducts live sessions that include daily doubt resolutions, core content classes, mentorship, study notes, performance evaluation and feedback to inculcate daily discipline among UPSC aspirants. Currently, the startup has over 70,000 learners on its YouTube channel and platform, who are taught by various subject matter experts.
Expressing his excitement on becoming part of Unacademy, Vimal Singh Rathore, Founder and CEO, Coursavy, said,
“We are thrilled to be a part of Unacademy and be able to contribute to the mission of democratizing education. Access to the right resources, technology and teams will help us create impact in the lives of millions of learners.”
Unacademy said Rathore will act as a mentor, apart from being a teacher on the platform himself, and the content from Coursavy will assist educators on its platform in conducting live classes.
Meanwhile, this is Unacademy’s fourth acquisition this year alone. Previously, the edtech unicorn has acquired Kreatryx, a Delhi-based online exam preparation platform, in April, CodeChef in June, and more recently PrepLadder, a Chandigarh-based medical prep platform, in July. Unacademy has also made a strategic investment of $5 million to acquire a majority stake in Mastree, a leading K12 learning platform based in Bengaluru, in July.