Jul 09, 2020 | Mallika Rangaiah
Supported by Sequoia and Facebook, the Edtech startup, Unacademy has acquired Chandigarh based startup PrepLadder for a sum of $50 million, as reported by Economic Times. The platform facilitates preparatory aid for postgraduate medical entrance examinations.
PrepLadder, which has employed around 150 people, provides courses catering to medical students. The startup has over 80,000 subscribers, as per its co-founder Deepanshu Goyal. He also added that the organization would keep on concentrating on the medical exam arena yet it also has a bigger objective of founding a medical university on the online platform.
The acquisition will see the whole 250 member group of Chandigarh-based PrepLadder joining the Unacademy Group, which includes founders like Deepanshu Goyal, Vitul Goyal, and Sahil Goyal. Unacademy said that the obtaining of PrepLadder was a step towards the firm’s development strategy.
Gaurav Manjal, the co-founder and CEO at Unacedemy has claimed that taking PrepLadder on board will assume a key job for Unacademy in the medical entrance exam category. He also added that the rapid development in Unacademy's endorser base is a demonstration of the growing interest for better online education and the firm’s relentless endeavors.
PrepLadder as of now centers around test groundwork for NEET PG and FMGE, yet the startup plans to add online courses for the whole range of medical staff, from attendants to neurosurgeons.
Unacademy, which is esteemed at $510 million, is among the quickest developing organizations in India's ed-tech division. The startup claims it has boosted its paid subscriber user base to 200,000 from 100,000 over the recent three months. It also stated that it has more than 5 million month to month users for its live free sessions and has led over 1.2 lakh live sessions during the period of June alone.