CollegeDekho, a college admission and higher education services platform, has acquired GetMyUni, a Times Internet-backed education technology firm, for about INR 50 Crore in a mix of cash and equity deal.
The acquisition enables CollegeDekho Group to hit a 4x revenue run rate growth over its last year’s numbers and scale further to maximise its growth this year.
With this partnership, CollegeDekho and GetMyUni collectively become the largest student enrollment platform in the country collectively driving more than 25Cr annual student traffic and facilitating 30K+ enrolments across almost 2000 partner colleges.
Post the acquisition, GetMyUni’s founding team will join CollegeDekho’s senior leadership and continue to operate independently as this adds fundamentally additive value to the partner universities.
Founded in 2015 by Upneet Grover, GetMyUni, operated by Getmyuni Education Services Pvt Ltd, aims to remove hurdles and aspires to be a catalyst in providing an online boutique for students who want to pursue their dream career by helping them make the right academic choices. The platform keeps the students and parents updated about the latest news and information regarding preferred colleges, exams, courses, and more. It actively interacts with the students and guides them in making better decisions for careers of their choice.
Commenting on the acquisition, Co-founder and CEO of CollegeDekho, Ruchir Arora, said,
''We have acquired 100 percent of Getmyuni which is also a college discovery platform for about Rs 50 crore in cash and equity mix. They (Getmyuni) will continue to operate under their leadership. Some from their leadership team will also join CollegeDekho in the leadership ecosystem,."
Arora further, added:
"We have been growing close to 100 percent year-on-year. Last financial year we closed with a net revenue of Rs 50 crore. Right now we are already expecting 4 times of that. With Getmyuni, we will have about 50 per cent of all students query through us. CollegeDekho is trying to create a complete ecosystem around student needs, including access to loans."
"Getmyuni is very similar to CollegeDekho. They also run another website called IELTS material. They are very similar to CollegeDekho. They will solidify our position. Between CollegeDekho and Getmyuni, we will cater to almost 50 per cent of all higher education traffic in the country. Getmyuni will make the combined entity collectively become the largest student enrollment platform in the country collectively driving more than 25 crore annual student traffic and facilitating over 30,000 enrollments across almost 2,000 partner colleges",
CollegeDekho, co-founded by Ruchir Arora and Saurabh Jain in 2015, connects prospective students with colleges using its proprietary technology and conversation bot, and offers services like profile building, test preparation, application assistance, university selection and visa assistance.
The startup claims to have hosted 100 million sessions on its website, counselled more than 2 million students and helped almost 1000 colleges with their student recruitments.
Adding about the latest development, Founder and CEO of GetMyUni, Upneet Grover, has said,
"While Getmyuni was anyway a great fit with CollegeDekho Group, we are equally excited about scaling our respective learning verticals given the tremendous success of IELTSMaterial.com, which has hit a 20K online learner run rate in just under a year since inception."
In 2019, CollegeDekho had acquired Delhi-based Scholarship Facilitation Services (SFS) for about $1.
The recent acquisition of CollegeDekho comes after a couple of months of the company raised $35 million (INR 260 Crore) in its Series B round of funding led by Winter Capital Partners, the private equity (PE) arm of ETS- ETS Strategic Capital, along with Calega and Man Capital. The startup has raised $45 million in total funding.