CBA Capital-backed professional education platform Imarticus Learning Pvt Ltd has bought a game-based learning platform StratOnBoard for an undisclosed amount in a mix of cash and stock deal, the company said in a statement on Thursday.
With the acquisition, Imarticus Learning will bring in unique differentiators in the form of epistemic games – the future of learning, the company said.
This marks Imarticus Learning’s second acquisition and it will look to acquire more such firms and will set aside an amount for the same this year..StratOnboard’s ecosystem and aligns with Imarticus Learning’s multiple business segments, including enterprise, academic, retail and consumer, it added.
Stratonboard’s products simulate business environments and build social and peer learning platforms. The products also provide competitive elements and capture business constraints to help learners explore business decisions, Imarticus Learing said.
It is also exploring to pivot into Metaverse learning with StratOnBoard’s acquisition.
StratOnBoard’s existing products range from onboarding solutions, micro simulations, game-based learning and strong AI (artificial intelligence)-driven assessments to gauge leaners’ proficiencies and skill set.
"StratOnboard has developed a one-of-a-kind solution that provides learners with technology-enabled stimulatory solutions and evidence-based assessment frameworks that construct skill profiles through analytics. When talks of the acquisition came up, we knew that this was the most logical choice – being a part of a futuristic organization to work towards a greater mission,” said Sandeep Rambhatla, Founder of StratOnboard.
Imarticus Learning said it will acquire intellectual property and patents to StratOnboard’s existing products and will build newer products and solutions for the industry at large. StratOnBoard’s proprietary games leverage cutting edge technology such as AI, branching conversational algorithms, and build a learning ecosystem to train on process, functional, technical and behavioral game mechanics, it further said.
The product offerings fall in line with Imarticus Learning’s international expansion plans as it looks to explore markets like the Middle East, North Africa, Singapore, Philippines, Malaysia, the Americas, and Sri Lanka, Imarticus Learning added.
“StratOnboard’s unique solutions will allow us to experience the future of learning through applied learning games. Besides, learners will also be able to experience real business challenges and learn to make decisions in the real world,” said Nikhil Barshikar, Founder and Chief Executive Officer of Imarticus Learning.
The acquisition will allow learners to hone their decision-making, problem-solving, and analytical skillsets, amongst others, Barshikar added.
Founded in 2012, Imarticus Learning works in alliance with global organizations and industry experts and offers its learners professional certifications and job placement opportunities that sculpt the future workforce, bridging the gap between employment and academia. Its mission is to upgrade the quality of human skill capital to meet current and emerging employment demands.
In 2016, Imarticus had raised $1 million (Rs 6.7 crore) from a bunch of investors including venture capital (VC) fund Blinc Advisors. Two years later, education-focused VC fund CBA Capital had backed Imarticus Learning as part of its $2 million Series B funding round.
Imarticus Learning has also acquired Eckovation, a social learning platform, to augment its offerings further and collaborate with top-tier institutions such as IITs.