Edtech platform Unacademy on Tuesday announced the acquisition of Swiflearn, an online platform that provides live face-to-face online tuitions for school students, for an undisclosed amount. The acquisition is in line with Unacademy's plans to strengthen its position in the K-12 category and optimise its product offerings in the space, a statement said.
Founded in 2019 by Abhinav Agarwal and Anand Bakode, Swiflearn is an online platform for academic courses, which provides personalised home tuition experience to students of grades 1-10 in CBSE and ICSE boards. The platform offers online tuition classes for English, mathematics and science along with other areas of learning like mental ability, life skills and Vedic maths.
"Swiflearn is building a high impact personalised and scalable learning product that will change the way students learn. Abhinav, Anand and the team have developed a great product that is seeing tremendous traction.
"We have a shared vision to make quality education accessible and affordable for students of all ages, and we are delighted to have them as part of the Unacademy Group," Unacademy Group CEO and co-founder Gaurav Munjal said.
Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015. Started as a YouTube channel by Munjal in 2010, Unacademy has grown its network to over 60,000 registered educators and over 62 million learners. Unacademy Group comprises Unacademy, Graphy, Relevel and CodeChef.
"We are very excited to join Unacademy, since our strengths of pedagogy, content, and personalised classes combined with Unacademy's product, brand and reach will make it a strong value proposition in the K-12 market. Anand, I, and the team of Swiflearn are looking forward to working closely with the entire team at Unacademy and learning from them," Abhinav Agarwal, co-founder of Swiflearn, said.
Swiflearn currently has over 1,500 teachers. The platform hosts more than 30,000 classes every month and has over 1.2 lakh registered learners. The edtech space has seen strong growth globally, including in India, with the COVID-19 pandemic serving as an inflection point. Many offline classes went online to ensure continuity of education while adhering to social distancing norms.
Unacademy rival, Byju's has been rapidly expanding its operations with an aggressive acquisition strategy. The startup, which has estimated to have raised over $1.8 billion since the beginning of the pandemic, had acquired Aakash Educational Services Ltd for nearly $1 billion earlier this year. It has also bought Great Learning and US-based Epic, among others.
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