Edtech Unicorn Unacademy Acquires Online Tuition Platform Swiflearn

SUMMARY

Swiflearn currently has over 1,500 teachers and caters to over 1,20,000 learners

It had raised INR 7.35 Cr in funding in a seed round in May 2020

Unacademy has acquired over 10 startups in the past two years

Continuing with its acquisition spree, edtech unicorn Unacademy has acquired Swiflearn, a platform providing live online tuitions for CBSE and ICSE students of grades 1 to 10.

The acquisition is in-line with Unacademy’s plans to strengthen its position in the K-12 segment and optimise its product offerings in the space, the edtech giant said in a statement.

It has, however, did not divulge the financial details of the transaction.

Founded in 2019 by Abhinav Agarwal and Anand Bakode, Swiflearn is an online platform for academic courses, which provides a personalised home tuition experience. The platform offers online tuition classes for English, Maths, and Science, and other areas of learning like mental ability, life skills, and Vedic Maths.

Gurugram-based Swiflearn currently has over 1,500 teachers, and the edtech startup hosts over 30,000 classes every month catering to over 1,20,000 registered learners.

Prior to the acquisition, the edtech startup had raised a total of INR 7.35 Cr in funding in a seed round in May 2020 from Venture Highway, Stellaris Venture Partners and AngelList’s Utsav Somani.

Founded in 2015 by Gaurav Munjal, Hemesh Singh, and Roman Saini, Unacademy has acquired over 10 startups in the past two years including that of Rheo TV in July this year. It had earlier acquired PrepLadder, Mastree, CodeChef, Kreatryx, among others.

Earlier this month, one of its group companies, Graphy acquired edtech platform Spayee for $25 Mn to consolidate its position in the creator ecosystem. Apart from Graphy and Unacademy, the group comprises Relevel and CodeChef.

It claims to boast a network of 60,000+ registered educators and over 62 Mn Learners. It offers content in 14 Indian languages to learners across 10,000 cities.

The edtech unicorn was valued at $3.4 Bn during its last round.

Recently, food service provider Zomato’s founder Deepinder Goyal joined Unacadem’s board, just few weeks after Goyal invested in Unacademy during its $440 Mn Series H round of funding along with Zeta’s Bhavin Turakhia.

In the same space, BYJU’s is also on an acquisition spree. The edtech giant has spent nearly $2.6 Bn on acquisitions in 2021 alone.