UpGrad is an educational technology company that was founded in the year 2015. The company has its headquarters located in Mumbai, India. The company was founded by Ronnie Screwvala, Mayank Kumar, Phalgum Kompaili and Ravijot Chugh.
The target market of the company is the working professionals who are looking back to get into the learning process without quitting their job.
The company provides access to the working professionals with university education through online modes in a structured manner. Let’s look at the below article to analyze the different subsidiary companies of UpGrad.
The Gate Academy
The Gate Academy is one of the recently acquired company by UpGrad. With this acquisition, UpGrad had entered into the test preparation market. The acquisition amount was not disclosed by UpGrad.
Even after the acquisition, the company is been known from its original name as The Gate Academy itself. The Chief Executive Officer of the company is Ritesh Raushan. The Gate Academy has its headquarters located in Bengaluru, India.
The plans of UpGrad after acquiring the startup were to increase the accessibility of this startup to at least 1 million test takers annually. This was planned to be achieved by investing over INR 100 crore in the company and by developing the content of around 20,000 hours in different languages.
The Gate Academy is one of India’s leading coaching institutes. The company has around 57 centers across the country. There are around 2 lakh learners who are enrolled for GATE and other entrance exams. They have consumed around 76 million video hours.
The Gate Academy has provided UpGrad with a non-linear growth opportunity by entering into a new segment and providing a deeper penetration in the semi-urban and the rural markets.
Acadview was founded in the year 2015 by an ex-Google employee Himanshu Batra. The company helps fresh graduates upskill themselves to find highly skilled jobs. They upskill the graduates through industry projects and online coaching.
Acadview also provides an opportunity to the young IT professionals to earn an extra income by teaching the courses to the students and providing mentorship. The company has its headquarters in New Delhi, India.
Acadview has partnered with more than 80 private universities and
colleges across five states in north India. The company has claimed that it has onboarded around 3,000 students in the previous year.
The acquisition of UpGrad will help the subsidiary company to focus on the north Indian market and UpGrad will help in expanding its presence there. UpGrad will also help the company to bring up its model online by providing the required materials.
Fairmont Technologies Pvt. Ltd
Fairmont Technologies Pvt. Ltd was founded in the year 2015. The company has its headquarters in Bengaluru, Karnataka. UpGrad had acquired the startup CohortPlus which is operated under the company Fairmont Technologies Pvt. Ltd.
Srinivasan Narayan is the founder and Co-founder of the company. CohortPlus will enable members to post various questions and they will get a chance to receive various perspectives from industry professionals. The members also have an option to seek assistance on Job interviews using the platform.
CohortPlus claims that it has a community of more than 31,000 members from a wide range of companies such as Google, Adobe, Facebook, Amazon, Practo, Zomato, Uber, etc. After the acquisition by UpGrad the company is concentrated on enlisting the support of the parent company to build a proprietary platform for people who are looking to advance in their careers.
Rekrut India Pvt. Ltd.
Rekrut India Pvt. Ltd was founded in the year 2020 and has its headquarters in Mumbai, India. Ajay Shah is the managing founder of Rekrut India Pvt. Ltd. Rekrut India has an extensive network of over 100 recruiting experts who handles the complexities of the hiring process.
The startup is said to be working closely with a lot of corporates, MSMEs and large enterprises. The acquisition helped the parent company that is UpGrad in turbocharging its career engine by providing a wider opportunity in placement and enabling the learners using the UpGrad platform to access the hiring partners of Rekrut India Pvt.Ltd.
This was the first time where an EdTech startup had acquired a recruitment company in India. The size of the deal was not disclosed.
Who is the owner of upGrad?
Ronnie Screwvala is the Co Founder and Chairman of upGrad.
Who is the CEO of upGrad?
Arjun Mohan is Chief Executive Officer of upGrad.
Is upGrad profitable?
upGrad's revenue stood at Rs 230 crore in FY20. The company has set a revenue target of Rs 300 crore for the January-March quarter.
All this acquisition has provided a strong platform for UpGrad in the EdTech space in India. These subsidiary companies are working closely with UpGrad to capture the Indian EdTech market.
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