Investments will help upGrad accelerate build-out of integrated and connected global model
ATLANTA, July 08, 2021 (GLOBE NEWSWIRE) -- upGrad, one the world’s leading higher EdTech platforms, today announced it is budgeting $250 million for mergers and acquisitions (M&A) over the next nine months. The investments will focus on helping the company more rapidly build out a strong, integrated, and connected model in higher education across multiple geographies.
“upGrad is now becoming one of the most integrated higher-ed tech companies – spanning all aspects of lifelong learning – from undergrad to test prep, from being a top choice for universities to go digital through technology and SaaS enablement, to offering degrees in the most sought-after fields for learners to build their careers of tomorrow,” said North America General Manager, Karan Raturi.
Co-Founder and Chairman Ronnie Screwvala said upGrad has identified specific segments as well as target companies the EdTech leader is interested in adding to its platform, two of which will be announced over the next 60 days, which include:
- High-touch digital learning experiences that bring additional value to what upGrad has pioneered over the last six years;
- Global, immersive short form learning;
- First mover advantage and scale players in emerging markets including Africa, Indonesia, and Vietnam;
- High traffic, low ARPU (average revenue per unit) players who can accelerate upGrad’s large product offering in short formats and soft skills market – leading to a subscription platform;
- Emerging models for international learners;
- OPM (Online Program Management) systems that can help fast-track upGrad’s partnership with universities at scale and around the world; and
- Strategic long-term partnerships with universities for lifelong learning.
“upGrad is looking to merge with and acquire companies with exceptional founders who will join us as fellow entrepreneurs to build the world’s best upskilling platform,” said Screwvala, highlighting upGrad’s non-linear growth strategy. “These investments are designed to accelerate our ability to deliver a deep, immersive learning experience with high touchpoints that appeal to working professionals.” Screwvala noted that upGrad raised its first capital from outside investors this year, including $160 million from Temasek and IFC. “upGrad is focused on adding the right pieces that allow us to rapidly scale our platform for global growth.”
About upGrad Inc.
upGrad is South Asia’s largest online higher edtech company offering 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the international edtech leader has impacted over 1 million total registered learners over 50+ countries across the world.
upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021.
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