Upskilling platform Scaler, which counts Sequoia Capital, Tiger Global and Lightrock India among its investors, said Wednesday it has bought Delhi-based edtech firm Pepcoding, marking its fourth acquisition.
Scaler, operated by Interviewbit Technologies Pvt. Ltd, did not disclose the financial details of the transaction.
The acquisition will help Scaler growth and support various business units, including strategy, product design, B2B enterprise, operations and instructor org, the company said in a statement.
Founded in 2017, Pepcoding specialises in data structure and algorithms, web development, data science, CBSE, GATE and business analytics courses. It offers undergraduate students both offline and online courses to improve their coding skills and secure employment opportunities.
After this buyout, Pepcoding co-founder Sumeet Malik has joined Scaler as an instructor and content creator to help improve the learners’ experience, especially in the low-level design curriculum.
“Pepcoding's diverse talent pool and Sumeet's extensive industry expertise will help accelerate the pace we are working towards achieving our vision and mission,” said Abhimanyu Saxena, co-founder of Scaler and InterviewBit.
Launched in 2019, Scaler offers upskilling courses to college students and tech talents. The company has also joined hands with Microsoft, Google and Amazon for placements.
The company had raised $55 million in a Series B round in February last year. VCCircle reported in March this year that the startup was looking to raise up to $50 million afresh.
Scaler has struck three acquisitions in the past two years. In March last year, it acquired online learning platform AppliedRoots for $50 million. In 2021, it bought out Coding Minutes and Coding Elements to boost its operations.
The edtech sector has been going through a tough cycle with educational institutions re-opening after the effects of the pandemic tapered off. Most edtech startups, including several unicorns, have sacked employees to cut costs. Overall, more than 8,000 employees working in the edtech segment were affected last year. Some of the largest edtech companies to have let go of employees include Byju’s, Unacademy and Vedantu.
