BrightCHAMPS acquires Singapore-based Schola for $15 million
Edtech platformhas acquired Singapore-headquartered Schola, a live-learning platform for children for learning communication skills and English, in a $15-million cash and stock deal.
In June 2022, the Binny Bansal-backed startup had announced that it has set aside $100 million to make edtech acquisitions across US, UK, Middle East and North Africa, Southeast Asia, and India in FY23.
The Schola acquisition is in line with BrightCHAMPS’ vision of "becoming the one-stop destination for all next-gen life skills for children in the K-12 segment".
Schola offers classes to students from 12 countries, including Vietnam, Thailand, Korea, Japan, and Malaysia.
“The ability to communicate confidently, coherently, and creatively is a crucial life skill for kids and a prerequisite for success as an adult, and we’re excited to have the exceptionally talented Team Schola lead this charge with BrightCHAMPS. Given Schola’s profitability and sustainable growth approach with low cash-burn, we already know that there is great synergy between the two companies’ operating models,” said Ravi Bhushan, Founder and CEO, BrightCHAMPS.
Founded in 2019 by former senior Facebook executives, Aditya Gupta and Nhu Tran Le Thanh, Schola offers a variety of courses through a live, one-on-one class model for children aged 4 years to 15 years. The skills imparted include communication, public speaking, leadership presentation, and confidence-building. The courses have been designed keeping in mind the particular needs of children who are first-generation English speakers.
(L-R) Aditya Gupta, Ravi Bhushan and Nhu Tran Le Thanh, Founders, Schola
BrightCHAMPS had previously acquired financial literacy edtech startup Education10x, which is also based out of Singapore.
Launched in 2020, BrightCHAMPS is currently valued at $650 million, after raising $63 million from marquee names such as US-based GSV Ventures, Singapore-based BEENEXT, and Premji Invest and Flipkart co-founder Binny Bansal-backed 021 Capital from India. The startup offers 300k classes every month across coding, financial literacy, and robotics for children between 6 years and 16 years of age.