CollegeDekho, a college admissions and education services platform, on Thursday said it has acquired Getmyuni and IELTSMaterial in a deal valued at over Rs 50 crore.
The firm said that the buyout will help it score a four-fold revenue run rate growth over its last year’s numbers and scale further its growth this year.
Acquiring IELTSMaterial will also enable CollegeDekho to scale its recently announced online learning vertical CollegeDekho Learn by adding English testing exam preparation capabilities for exams like IELTS(International English Language Testing System), TOEFL(Test of English as a Foreign Language), PTE(Pearson Test of English), and OET(Occupational English Test), it added.
CollegeDekho and Getmyuni collectively cater to 50% of all college searches in India.
“While CollegeDekho’s focus area continues to fulfil end-to-end enrollment mandates of universities, Getmyuni will continue helping institutes with leads and branding solutions. We envision these as two complementary services, which will enable any university working with us to supercharge their enrolments,” said Ruchir Arora, Co-Founder and CEO of CollegeDekho.
“The acquisition of IELTSMaterial.com will help us enhance CollegeDekho Learn even further whilst strengthening CollegeDekho Study Abroad too," he added.
"While Getmyuni was anyway a great fit with CollegeDekho Group, we are equally excited about scaling our respective learning verticals given the tremendous success of IELTSMaterial.com, which has hit a 20,000 online learner run rate in just under a year since inception," said Upneet Grover, Founder and CEO at Getmyuni.
CollegeDekho was co-founded in July 2015 by Ruchir Arora, an Indian School of Business alumnus who had earlier established HT Campus, the flagship education portal of HT Media. Other co-founders are Saurabh Jain, Rohit Saha and Rajiv Singh.
In December, CollegeDekho raised $35 million (Rs 260 crore) in its Series B round of funding led by Winter Capital Partners.
India’s edtech sector is expected to grow at a CAGR (compound annual growth rate) of over 15% from $2.8 billion in 2020 to $30 billion in 2030, citing a BLinC Investment Management report, which also terms India as the world’s most active edtech market.