CL Educate Limited, which runs EdTech platform Career Launcher, has acqui-hired its franchisee Knowledge Tree, the New Delhi-based education technology pioneer has announced recently.
Career Launcher said Knowledge Tree will be leading its Delhi-NCR team, aimed at driving its business growth via a blended model approach.
Knowledge Tree was founded by Deepak Madan and Jitin Arora in 2007. As a franchisee of CL Educate, it operates three centres across Faridabad and Gurugram. The platform claims to have helped over 15,000 students to appear in various competitive exams.
Needless to mention, Madan and Arora worked at CL Educate as employees before taking up franchisee centres in Faridabad and Gurugram.
Commenting on the development, Nikhil Mahajan, Executive Director, Finance Group CEO, CL Educate, said,
"Our consistent focus to maximise shareholder returns continues as we respond to the post-Covid-19 world through specific strategies and structures. We see ourselves on a very good trajectory for the next 36-48 months of undiluted execution focus. This is another step in that direction."
Jitin Arora, Co-Founder at Knowledge Tree, said,
"Our team is delighted at this integration as it offers faster and wider career growth for all our team members too."
According to Sujatha Kshirsagar, President and Chief Business Officer at Career Launcher, the company is looking to double its revenues in Delhi-NCR through aggressive product and distribution expansion in the next 36 months.
Career Launcher is a wholly-owned subsidiary of CL Educate. Founded by Satya Narayanan R in 1996, CL Educate focuses on diverse segments of education and caters to learners from multiple age groups. In the past two decades, CL brand has diversified and has established itself as a recognized name in the education sector across a broad spectrum of segments, including test preparation and vocational training. As of August 2021, CL Educate had 200 test-prep centres spread across 100 cities in India, and also operates test-prep centres in the UAE as part of its global expansion.
In November last year, CL Educate has entered into a strategic partnership with Vidya Mandir Classes (known popularly as VMC) to expand its footprint in JEE and NEET space.