NoPaperForms Solutions Pvt Ltd, which operates an enrolment automation platform, has announced its second acquisition move this month.
It has said that it will buy Delhi-based Parents Apply, whose parent is MN Infotech.
The move comes just over a week after it announced the acquisition of schools-focussed admission firm Intelliadmissions.
Parents Apply operates a platform that helps simplify and digitise the admissions process for parents and schools. According to a statement by company executive Mridul Batra, the platform has over 44 schools and around 30,000 applications in Delhi.
NoPaperForms said it will acquire Parents Apply in an all-cash deal. However, the two companies did not disclose the financial details of the transaction.
This acquisition will help NoPaperForms grow the client base of UniApply, its common application platform. The company had cited the expansion of UniApply in Maharashtra as one of the objectives of its acquisition of Intelliadmissions.
“Parents Apply’s reach, awareness, and wisdom will considerably reduce the lead time for us in conquering the Delhi-NCR region and will go a long way in contributing to our goal of reaching out to 100 cities by next year,” NoPaperForms founder and chief executive Naveen Goyal said.
NoPaperForms was set up in 2016. The Gurugram-based company says its platform helps admissions and marketing teams across educational institutions to improve metrics such as conversions, returns, and efficiency.
It currently maintains offices in six cities including Pune, Chennai, Bengaluru, and Ahmedabad. The company's revenue from operations doubled to Rs 15.9 crore for 2019-20 from Rs 7.35 crore for 2018-19. It also swung to a net profit of Rs 23 lakh from a net loss of Rs 4.97 lakh.
NoPaperForms is backed by Info Edge (India) Ltd, the operator of several internet properties including Naukri.com, Jeevansathi.com and 99acres.com.
In December 2018, NoPaperForms raised Rs 28 crore (around $3.98 million) in a Series B funding round from Info Edge, taking the publicly listed company’s stake to 48.1%. Prior to this, Info Edge invested Rs 5.66 crore (around $872,000) in November 2017.
