Simplilearn acquires US-based Fullstack Academy

Fullstack Academy

India’s Edtech company Simplilearn has acquired a US-based Bootcamp education company, Fullstack Academy in an all-cash deal. Simplilearn claims that the acquisition will help the company drive revenue growth in the coming years and scale the business in North America. The acquisition amount wasn’t disclosed.

Fullstack Academy will continue to work as an independent business unit within Simplilearn.

“Through Fullstack Academy’s wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans,” said Krishna Kumar, Founder, and CEO, Simplilearn.

Fullstack Academy was founded back in 2012 by David Yang and Nimit Maru. It was acquired by Zovio back in 2019. Back in September, Zovio revealed its plans to sell Fullstack for $34-$55 million. After the recent fundraising, Simplilearn had enough cash to buy Fullstack Academy and now Simplilearn is the new owner of the company.

Simplilearn raised $45 million in fresh funding earlier this month. GSV Ventures led the funding round and Clal Insurance, DisruptAD, and ADQ also participated in this funding round.

This is Simplilearn’s second acquisition to date, The company acquired Market Motive in 2015.

Simplilearn was founded by Krishna Kumar back in 2010. The company offers training to individuals and businesses. It is based in San Francisco, California, and Bangalore. Simplilearn’s revenue grew to Rs 480 crore and losses jumped to Rs 150 crore in FY22. The company is planning to clock Rs 1,000 crore in revenue and turn profitable by FY24.

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