Scaler Academy, an up-skilling platform for tech professionals and college students, has acquired Coding Elements, a New Delhi-based online learning platform, in an all-cash deal valued at over $1 million (~ Rs. 8 crores). This is the ed-tech startup’s first acquisition.
Scaler Academy is managed by InterviewBit, an ed-tech startup that has secured more than $20 million in funding from notable investors such as Sequoia Capital India, Rocket Internet, and Tiger Global Management. The Bengaluru-based firm reported that it has allotted $8 million (Rs 50 crore) to foster Mergers and acquisitions (M&A) deals.
Scaler Academy plans to harness this acquisition to develop synergies between the two companies, allowing them to strengthen and broaden their professional upskilling programs. Coding Elements and Scaler Academy have merged as part of the agreement. Mudit Goel, the founder of Coding Elements, will join Scaler as the company’s strategy and product lead. Goel’s responsibilities include expanding Scaler’s data science with the machine learning area as well as strengthening the company’s relationships with industry partners.
Mudit Goel founded Coding Elements in 2017 to provide students with computer science courses along with data science, machine learning, as well as full-stack web and mobile app development. The platform also includes coding tutorials for kids. Coding Elements claims to have 4,000 students enrolled on its platform. Furthermore, as part of the Atal Innovation Initiative, it is offering courses to 2 million students spanning 6,000 schools in collaboration with the Government of India established think tank NITI Aayog.
InterviewBit’s Scaler Academy was founded by Abhimanyu Saxena and Anshuman Singh in 2014. For university students and young professional software developers, the startup delivers online computer science courses. The ed-tech startup claims to have over 1000 tech professionals working as career coaches, teaching assistants, and mentors, with over 500 employees. Its job listings comprise positions at Google, Amazon, Netflix, Flipkart, Uber, Curefit, and Microsoft, among others.
In the current fiscal year, the company stated to have a revenue rate of $4o million. According to Saxena, the user base has increased 5x from the previous fiscal year and 4x from the preceding quarter, with over 8000 active learners on Scaler and over 2 million registered users on InterviewBit.
Abhimanyu Saxena commented on the acquisition, “This acquisition will enable us to further strengthen our upskilling platform by expanding our course offerings beyond core software engineering. As we are journeying to the next growth phase, I’m confident that Coding Element’s resources, talent pool will help us in expanding our offerings and reach. The acquisition is another step towards accelerating our growth and making Scaler a world-class virtual tech university.”
While Mudit Goel the Founder of Coding Elements, added, “I’m happy to have joined hands with Scaler, which is also on the same mission and am excited to be a part of one of the most dynamic teams in the ed-tech sector. This strategic merger with Scaler is truly a satisfying moment as it makes our journey bigger and better.”