Edtech and upskilling startup Simplilearn has acquired Fullstack Academy, a US based bootcamp Education Company in an all-cash deal for an undisclosed sum.
As per a company statement, the Fullstack acquisition will drive revenue growth to $200 mn by FY24, of which 70% is likely to come from the global markets and will boost Simplilearn’s presence in the bootcamp space.
After Market Motive in 2015, this is the second acquisition by the Blackstone-backed startup, run and operated by Simplilearn Solutions Pvt. Ltd.
Through this acquisition, Simplilearn aims to tap into the partnerships and networks of Fullstack Academy, a premium bootcamp provider that has expanded its offerings, introducing new bootcamp programs in Web Development, cybersecurity, product management, DevOps, data analytics and other disciplines. Over the years, it has built strong partnerships with 20 universities and industry partners across 15 states in the US.
Simplilearn aims to capitalize on these points to accelerate its growth in the region.
Post the transaction, Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn. Additionally, all Fullstack Academy employees will remain in their roles as part of the combined organization, bringing Simplilearn’s total employee count to over 2,500.
“Bootcamps have been an extremely popular concept in the edtech industry and there is no denying that learners are looking for the holistic learning experience that bootcamps offer. Through Fullstack Academy’s widespread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans,” said Krishna Kumar, founder and chief executive officer of Simplilearn.
“We found a business whose vision is similar to ours and complements our pedagogy and belief system. We will be able to leverage each other's capabilities synergistically to build a strong company,” Kumar added.
Founded in 2010 by Kumar, Simplilearn is based in San Francisco, California, and Bangalore, and offers access to work-ready training to individuals and businesses globally.