Indian company EdTech upGrad acquires Harappa Education for $38 million
UpGrad said in a statement that Harappa Education will record approximately $10 million in revenue this year.
UpGrad completed the transaction with current Harappa Education shareholders Bodhi Tree Systems, a newly formed platform between James Murdoch and Uday Shankar and co-founders Pramath Raj Sinha and Shreyasi Singh.
The New Delhi-based online learning institution offers self-paced courses to address the growing problem of poor employability, inadequate leadership and an ill-equipped workforce. Harappa Education has an active customer base of 100 medium to large organizations.
“Similar to the integrated approach we have been able to establish in the business-to-consumer (B2C) segment, we intend to offer a full suite of products to our partner companies. A combination of refresher courses with these essential skills that Harappa Education has to offer would set us apart,
“We are seeing strong demand from our customers and with the arrival of Harappa Education, we believe we will be able to grow exponentially within the segment by leveraging synergies. Pramath and Shreyasi have a strong business heritage, which in turn fuels our ambition to become the global leader in edtech,” said upGrad co-founders Ronnie Screwvala and Mayank Kumar.
Launched in 2015, upGrad is a pioneer in the online education revolution, focused on the career success of a global workforce of over 1.3 billion people.
It is one of the few integrated lifelong learning technology companies in the world – spanning from college student to working professional in the 18-50 age bracket and through first grade courses. undergraduate, academic and job-related programs, study abroad, short form to executive programs to diplomas, masters and doctorates – with a learner base of over 3 million in over 100+ countries of 300 university partners and a robust company with a customer base of 1000 companies worldwide.
UpGrad’s global learning engine is built on four pillars: its vast repository of original and owned content and intellectual property, its own proprietary, best-in-class technology platform, its human-led delivery service backed by coaches and mentors, and an 85% course. track record of completion, backed by a guaranteed performance of 80% additional career results.
The company has offices in the UK, US, Middle East, India, Singapore and Vietnam, and has a presence in many other countries.
“Consolidations bring like-minded entrepreneurs together to create powerful and inspired formations. We are excited to develop the immense potential of our unique Social, Cognitive and Behavioral Skills program, together with Ronnie and Mayank, who have created such an exciting global business,
“As a combined force, Harappa and upGrad will anchor our purpose and belief in creating a truly healthy learning ecosystem for lifelong learners in India and abroad, with our proven pedagogy, flagship curricula and our rich partnerships to ensure unparalleled outcomes for our learners and clients,” said Pramath Raj Sinha and Shreyasi Singh, Founders of Harappa Education.
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