Mumbai-based online test preparation startup Toppr has announced its second acquisition in a year in the form of Manch. In April2015, it had acquired Jodhpur-based EasyPrep – an online platform to help students prepare for entrance exams.
On the acquisition, Zishaan Hayath, CEO and Founder, Toppr says, “We looked at this startup which was trying to solve the same problem and decided that it was worthwhile joining hands. The team of Manch are trying to address the core focus area of Toppr - to personalise K12 education with the help of technology. I believe together we can build something that will be greater than the sum of parts. It also brings several years of experience in product management, engineering and design; keeps a deep understanding of our customer. This is very valuable in our journey to make a world class learning platform that is loved by millions of students.”
Founded in late-2013 by IIT-Bombay graduates, Rajshekhar Ratrey, Aadil Shah and Vikas Verma, Manch offers its services in test preparation, corporate training and to schools and colleges. It enables an individual to obtain competence using the platform's in-built analytics and recommendations tools.
“When the acquisition talks started to stir up, Toppr was already a couple of years ahead in the curve that Manch wanted to trace for itself. There were a lot of possible product synergies. We knew the people and culture at Toppr. Bringing both the teams together would mean getting more ammunition for the mission. It was a logical thing to do,” says Rajshekhar.
At Toppr, the team has been working on several products. It has recently launched a “Doubts on Chat” feature that gives every student the opportunity to get their doubts answered by quality teachers and subject experts, whenever they want, wherever they want.
The SAIF Partners funded company competes with Embibe, which helps students for JEE/BITSAT (engineering), AIPMT/CET/AIIMS (medical), and Examify, which helps IIT-JEE aspirants to study in a smarter way.
Entrance exam preparation market for K12 students is valued at $8 billion and is growing at 20 per cent every year.
With startups flourishing in the education segment, the rising interests of investors can’t be overlooked. Last year, Toppr.com closed a funding round of Rs 65 crore, led by Fidelity Growth Partners India, and existing investors, SAIF Partners and Helion Ventures.
Such acquisition in the segment aligns with edtech startups’ vision of democratising education by making it more accessible and affordable for all.