Edtech Unicorn upGrad has acquired Exampur, a test-preparation startup for government jobs for an undisclosed amount.
This is its fourth acquisition this year, and the company said it sees test-prepration as a high potential growth driver and the deal, which is a 100% merger agreement, fits well into its learning initiatives.
Last month, upGrad had acquired B2B edtech startup Harappa Education for $38 million (INR 300 Cr).
Noida-based Exampur was founded in 2018 by Vivek Kumar and Vardan Gandhi, It is a learning platform that offers more than 200 test-prep courses for various competitive exams to crack government jobs.
It distributes most of the content through its apps and YouTube channels. It also offers online test series, free quizzes and live scholarship tests for candidates to assess their professional competencies and help them streamline the learning process.
Exampur’s current customer base is over 12 million with an average audience of 2.5 million students, and about 90% of its paid users are from Tier-2,3 and 4 markets. It also said it aims to achieve revenue of Rs 70 crore ($7.5 million) in the current fiscal year.
Commenting on the deal, Vivek and Vardan, cofounders of Exampur said, “We are happy to have strong leadership support through upGrad who have already built a business which is set to outlast its peers and shall accelerate our growth in the coming times.”
upGrad was founded by Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli in 2015, it is a edtech unicorn company, and has a user base of 3 million in over 100 countries.
“I realise that it (test-prep segment) comes with a high customer acquisition cost (CAC), but it also delivers higher returns in terms of outcomes,” said Gaurav Kumar, president, Corporate Development, upGrad.
“Therefore, we wanted a partner with the right set of DNA within this space and Exampur seamlessly fits into our LifeLongLearning jigsaw,” Kumar added.
Exampur is one of the highly trusted and most magnificent online e-learning platforms with live classes, mock test papers, daily current affairs, and many more.
Exampur is India’s best exam preparation app for several competitive examinations. They offer courses for government exam preparation, with a hybrid model that provides offline and online teaching facilities to aspirants from Tier II, III, and IV cities.
Founded in 2015, upGrad is India’s largest online higher education company providing programs in Data Science, Technology, Management and Law, to students, working professionals and enterprises. Every program is designed and delivered in collaboration with top universities like the IIT Madras, MICA, NMIMS Global Access, Jindal Global Law School, Duke CE, Deakin University, Liverpool John Moores University and others.
With an 85% program completion rate, a robust tech platform, an outcome-based learning approach, industry-relevant curriculum, strong mentorship, and placement support, upGrad has established its position as the leader in the Indian education system and is well on its way to accomplish their Vision of powering career success for every member of global workforce as their trusted lifelong learning partner.
upGrad has on-boarded over 40,000 paid learners while impacting more than a million individuals, globally. IIIT Bangalore and upGrad’s collaborated program of PG Diploma in Data Science is India’s first-ever PG Diploma to be recommended and validated by the National Association of Software and Services Companies (NASSCOM) and government-approved National Occupational Standards (NOS). upGrad received the ‘Best Education Brands’ award by Economic Times in 2018, Most Innovative Companies in India’ by Fast Company in 2017 and has made it to LinkedIn’s ‘Top 25 Startups’ two years in a row in 2018 and 2019, and in 1st position in 2020.