Bengaluru-based edtech startup GetMyUni on Monday announced that it has acquired online learning startup Avagmah from AEON Learning in an all-cash deal on June 18, 2020.
Avagmah, founded in 2015, had raised $5 million from marquee investors like Lionrock Capital, Zodius Capital, Kris Gopalakrishnan, Atul Nishar, and MEMG (Manipal Group) before it merged with Acadgild to form AEON Learning.
"Since inception, we have always wanted to create impact at scale. Our core business of student acquisition for universities across India and abroad has grown over 200 percent since 2019. This acquisition allows us to complete the value chain for our users by directly impacting the content delivery part of the business,” said Upneet Grover, CEO and Founder, GetMyUni.
“Also, the acquisition allows us to pursue our vision to make higher education accessible to everyone in India, irrespective of their financial status or access to traditional offline setup, wherein private education is too expensive and public education is very average in its outcome," Upneet further added.
Avagmah is a full stack OPM (online program manager) and enables universities to fully outsource their online programs. Through this acquisition, GetMyUni now enters the online certification and degree-granting space, which has seen tremendous growth over the last couple of years and an even more significant uptick post Covid-19.
Avagmah has worked with some top tier universities and colleges such as IIM Ahmedabad, IIM Calcutta, Pondicherry University, Bharathidasan University, Alagappa University, and NIT Kurukshetra to name a few.
Started in 2015, GetMyUni is a Times Internet-backed edtech platform, which helps students with their post K-12 learning journey. It owns and operates three online platforms - GetMyUni, IELTS Material, and The College Monk.
Post the Avagmah acquisition, GetMyUni will be using its existing distribution of a 40 million annual user base and 300+ university partners to enter the booming OPM space.
(Edited by Megha Reddy)
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.