Bengaluru-based edtech firm Unacademy on Tuesday announced to acquire PrepLadder, a leading post-graduate medical entrance exam preparation platform, for $50 million (approx Rs 112.3 crore).
Founded by Deepanshu Goyal, Vitul Goyal and Sahil Goyal in 2016, PrepLadder prepares students for medical examinations and provides access to education services and preparation material for exams such as NEET PG, AIIMS PG, NEET SS, and FMGE.
Currently, PrepLadder has expert educators teaching over 85,000 active subscribers.
According to Unacademy, the acquisition will strengthen its presence in medical entrance examination categories. Unacademy recently acquired Kreatryx and has taken over the custodianship of CodeChef.
"The exponential growth in Unacademy's subscriber base is a testament to the increasing demand for quality online education and our consistent efforts. I look forward to working with the PrepLadder team as they become a part of the Unacademy Group," said Gaurav Munjal, Co-Founder, and CEO, Unacademy.
The acquisition comes on the heels of news reports that Think and Learn, the parent company of Bengaluru-based edtech unicorn BYJU'S, is in talks to acquire Mumbai-based startup WhiteHat Jr for Rs 300 million.
In the last three months, Unacademy has recorded a 100% increase in its paid subscriber base.
The monthly watch time minutes has also reached an all-time high of over 1 billion. Additionally, over 525,000 learners attempted various mock tests on the platform for competitive examinations such as UPSC, NEET-PG, and CAT, among others, during this period.
"Unacademy and PrepLadder are working towards the common goal of making quality education accessible to all. We believe that the synergies between both products will truly create a mark in the industry," said Deepanshu Goyal, Co-Founder, PrepLadder.
Founded in 2015, Unacademy currently has over 10,000 educators, more than 30 million learners and caters to over 35 exam categories.