Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy

Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy

SUMMARY

With the acquisition, Unacademy plans to strengthen its position in the UPSC test prep market

Coursavy Educators, including its cofounder Vimal Singh Rathore, will now teach on Unacademy and will also mentor existing educators

Unacademy had entered India’s unicorn club earlier this month

Bengaluru-headquartered edtech startup Unacademy on Thursday (September 25) acquired a Union Public Service Commission (UPSC) test preparation platform Coursavy for an undisclosed amount. 

With the acquisition, Unacademy plans to strengthen its position in the UPSC test prep market. Unacademy had entered India’s unicorn club, with its funding worth $150 Mn led by Japanese multinational conglomerate SoftBank. Unacademy’s valuation now stands at $1.45 Bn.  

With the merger, Unacademy plans to conduct bi-monthly scholarship tests — Aspire — for UPSC aspirants, and also conduct knowledge sharing summits with UPSC toppers, top educators and experts from the field. 

In August, the Board of Control for Cricket in India (BCCI) had roped in Unacademy as an official partner for the Indian Premier League (IPL) 2020 edition.  

Commenting on the merger, Gaurav Munjal, cofounder and CEO, Unacademy, said, “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 democratise education in India, and this acquisition is a step in that direction.” 

Launched in January 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. 

Coursavy Educators, including Vimal, will now teach on Unacademy and will also mentor existing educators on enhancing discipline amongst aspirants. The content from Coursavy will assist Unacademy Educators in their Live Classes and will help learners with their UPSC CSE preparation.

“At Coursavy we have created a 360-degree ecosystem where content, teachers, students, Live interactions and query resolution are connected in a daily discipline — empowering students to focus on their studies with a trust that all issues will be resolved by the Educator. We are thrilled to be a part of Unacademy and to be able to contribute to the mission of democratising knowledge. Access to the right resources, technology and teams will help us create an impact in the lives of millions of learners,” said Vimal Singh Rathore, CEO, Coursavy.

Unacademy’s Wave Of Acquisitions

Founded in 2015 by Gaurav Munjal, Hemesh Singh, Roman Saini and Sachin Gupta, Unacademy claims to have 30 Mn registered users and around 3,50,000 paying subscribers. The startup focuses on the K12 segment and also offers lessons for competitive exams preparation. In recent times, Unacademy has also begun offering lessons on skill development and chess.

In July, Unacademy acquired edtech startup Mastree to strengthen its presence in the K12 segment. Mastree is building a one-stop subscription product for STEAM (science, technology, engineering, arts and mathematics) courses, for classes 5–8. The Mastree acquisition came just a week after Unacademy had acquired another startup PrepLadder, which offers lessons for postgraduate medical entrance exam preparation. Earlier this year, the company also acquired Kreatryx to strengthen its presence in the GATE and ESE segment, and CodeChef, which offers programming courses for learners. It also acquired Turakhia’s CodeChef in June 2020.

By acquiring smaller edtech startups with niche offerings, Unacademy, along with its rival BYJU’S, is seen to be moving closer to becoming an edtech super apps.

According to the ‘Future Of India’s $2 Bn Edtech Opportunity Report 2020’, K-12 and test preparation combined will make 66% ($1.3 Bn) of the total online education market size in 2021. Skill development and online certification are expected to account for $463 Mn of the Indian edtech segment, growing at a CAGR of 38% from 2016-21.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy-Inc42 Media
Edtech Unicorn Unacademy Acquires UPSC Test Prep Platform Coursavy-Inc42 Media
You’re in Good company