Arco, a Brazilian EdTech company that develops educational solutions, has acquired Me Salva!, an innovative online test prep platform that prepares students to be admitted to the best universities in Brazil, the company has announced recently.
The company, however, did not disclose the financial terms of the deal.
Announcing the news of the acquisition and how it will help the company in future, Ari de Sá Neto, Founder and CEO of Arco, said in a statement,
“We are excited to add Me Salva! to our portfolio and with the opportunities ahead on test prep and tutoring. This acquisition enables Arco to start providing a high quality solution at affordable prices to students that attend public schools, a segment that historically faces a large opportunity gap to the private sector in Brazil. Additionally, we are thrilled that such an inspiring founder has decided to be part of our company. Together with a highly talented, entrepreneurial team, Miguel has created from scratch a disruptive solution that offers engaging content, empowers students and improves their chances of being admitted to the best universities in the country.”
Me Salva! was founded in 2011 by Miguel Andorffy with the mission of helping students to improve their ENEM scores and to be admitted to the best universities in the country. The platform offers recorded and live video classes, comprehensive exercises, essay writing tools, assessment tests, one-on-one tutoring and personalized study plans. Me Salva! claims over 900 thousand students have used its platform in 2020, and the company has grown its revenues by 36% per year between 2016 and 2020.
Miguel Andorffy, Founder and CEO of Me Salva! commented on the partnership,
“Me Salva!’s team and I are thrilled to be joining Arco. We have helped thousands of students to access higher education and believe that, with this partnership, we will be able to scale our solution and help many more students to achieve their dreams.”
The acquisition of Me Salva! expanded Arco’s supplemental solutions portfolio to test prep and tutoring, a vertical with an estimated addressable market of R$5 billion and favorable growth prospects, according to a report by Business Wire.
Founded in 2004, Arco is specialized in educational solutions with focus on content, educational technology, supplemental programs and specialized services to improve the learning process. The company has empowered hundreds of thousands of students to rewrite their futures through education. Its data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience while enabling schools to thrive.