upGrad Rekrut, a 100% subsidiary of online higher education platform major upGrad, announced that it has acquired WOLVES India, a recruitment and staffing company for an undisclosed amount.
Post the acquisition, WOLVES India will operate independently as a subsidiary of upGrad Rekrut and strengthen its tech placement portfolio, upGrad said in a statement.
Founded in 2014 by Raghu S, Bengaluru-based WOLVES India specialises in placing tech talent across startups, along with mid and large-sized organisations in India and overseas. With 70 professionals, the startup has closed over 5,000 placements in technology and product roles. It also addresses hiring challenges across the aerospace segment through its proprietary product - Quasara, to help global businesses to set up their offshore centres
Commenting on the acquisition, Co-founder & MD of upGrad, Mayank Kumar, said:
"While with upGrad Rekrut we saw our learners receiving record-breaking CTCs during FY22, the joining of WOLVES India will give us an edge in the tech ecosystem. It shall foster wider employment opportunities for our learners in the form of highly paid tech roles and enhanced career acceleration."
Upgrad was founded in 2015 by Screwvala, Kumar and Phalgun Kompalli, to offer short courses on entrepreneurship and data science. The Mumbai-based company spans several segments, from test prep to study abroad, and undergrad degrees to campus courses in 250 universities. Its offerings include finance, law, business, and software for the 18-60 age group.
Founder & Director of WOLVES India, Raghu S, added:
"We will support upGrad to present world-class tech job opportunities to its learners and, together with upGrad Rekrut, create a market leader in tech hiring."
According to the WOLVES India, it will continue to operate independently under the leadership of its Founder and Director, Raghu S.
Speaking on the partnership, Ajay Shah, Managing Founder and Husain Tinwala, Co-founder of upGrad Rekrut, said:
"We are thrilled to welcome Raghu and his team on board to partner with upGrad Rekrut to offer an enhanced placement portfolio, thus enabling upGrad learners with the tech jobs of tomorrow. This aligns with our ambition of becoming the global talent superpower in the next few years."
Earlier this week, upGrad launched five new offline experience centres in Delhi, Jabalpur, Kolhapur, Kottayam, and Patna. Last month, the EdTech giant also announced that it was looking to hire 3,000 people in the next three months.
With the acquisition of WOLVES India, upGrad has completed three acquisitions in the last seven months. The EdTech leader raised $225 million a month ago, taking its valuation to well over $2.25 billion. While upGrad is also looking to raise a further $100 million, the startup has been investing the funds it raises to expand inorganically in other verticals via acquisitions.