Edtech startup Unacademy acquires PrepLadder for $50M
Bengaluru-based edtech platformannounced on Tuesday that it has acquired postgraduate medical entrance exam preparation platform, , for $50 million. This acquisition will strengthen Unacademy's presence in categories such as NEET PG and FMGE.
This comes right after Unacademy announced the acquisition of programming platform Codechef earlier last month.
Gaurav Munjal, Co-founder and CEO at Unacademy, said:
“As we strengthen our position as a market leader in the test prep market, bringing PrepLadder on-board will play a strategic role for Unacademy in the medical entrance examinations category. At Unacademy, we have been working towards democratising education and this acquisition is a step towards achieving that goal. The exponential growth in Unacademy’s subscriber base is a testament to the increasing demand for quality online education and our consistent efforts. I look forward to working with the PrepLadder team as they become a part of the Unacademy Group.”
PrepLadder was founded in 2016 by Deepanshu Goyal, Vitul Goyal, and Sahil Goyal with the vision to provide affordable and quality education services and preparation material for students preparing for NEET PG, AIIMS PG, NEET, SSM, and FMGE. The platform has over 85,000 active subscribers.
Co-founder Deepanshu says, "Unacademy and PrepLadder are working towards the common goal of making quality education accessible to all. We believe that the synergies between both products will truly create a mark in the industry.”
Founded in 2015 by Gaurav, Roman Saini, and Hamesh Singh, Unacademy is backed by marquee investors including Facebook, General Atlantic, Sequoia India, SAIF Partners, Nexus Venture Partners, Steadview Capital, and Blume Ventures.
According to Unacademy, the edtech startup has recorded a 100 percent increase in its paid subscriber base, and a 100 percent increase in the average daily watch time across its platform. Currently, Unacademy has more than 30 million learners in its platform, with more than 10,000 educators catering to over 35 exam categories.