Unacademy has acquired online medical education platform PrepLadder for $50 Mn. Unacademy’s co-founder-CEO Gaurav Munjal has also confirmed the news on his official Twitter account. Based in Chandigarh, PrepLadder helps students prepare for higher medical examinations. The startup is barely two year old and reportedly employs 150 employees.
PrepLadder has till date never raised an external funding and reportedly boasts 80,000 subscribers. PrepLadder’s acquisition is yet again the testimony of Unacademy’s aggressive strategy to consolidate its position in India’s online education market.
According to analytics platform Crunchbase, Unacademy has so far acquired three startups – Codechef, Kreatryx and Wifistudy. The company had acquired Codechef only few weeks back.
The Facebook backed company recently witnessed massive jump in its customer traction as covid-19 lockdown apparently helped the platform in propelling its growth further. With schools and colleges temporarily closed in the wake of coronavirus crises, students are increasingly flocking to online education platforms to sharpen their skills and keep themselves updated with the circulium.
Covid-19’s positive impact on edtech sector was again testified last week when last week edtech platform Upgrad rolled back its earlier pay cut decision on the back of a good performance during the last two months. Upgrad probably became the first company to take such a bold decision in the post pandemic era.
Meanwhile, Byju’s – another prominent name in the India’s edtech sector – is equally vying for acquiring promising startups. The Bengaluru based company is reportedly in talks to acquire two online education platforms, Doubtnut for reportedly $150 Mn and Whitehat Jr.