Unacademy buys PrepLadder for $50m in cash & stock deal

BENGALURU: Education technology startup Unacademy has acquired Chandigarh-based PrepLadder for $50 million in a cash and stock deal. This marks Unacademy’s fourth acquisition in less than two years, after it bought government exams preparation platform Wifistudy, competitive programming website CodeChef, and GATE coaching site Kreatryx.

The entire 250-member team of the postgraduate medical entrance exam preparation platform will join the Unacademy Group, including founders Deepanshu Goyal, Vitul Goyal, and Sahil Goyal.

Sequoia Capital and Facebook-backed Unacademy said the acquisition is part of its inorganic growth strategy. “Bringing PrepLadder on board will play a strategic role for Unacademy in the medical entrance examinations category,” said Gaurav Munjal, cofounder and CEO of Unacademy.

“The exponential growth in Unacademy’s subscriber base is a testament to the increasing demand for quality online education and our consistent efforts,” Munjal added. PrepLadder focuses on test preparation for NEET PG and Foreign Medical Graduates Exam but plans to roll out online courses for medical workers, including nurses and neurosurgeons, the company said.

Over 85,000 medical students use its platform, PrepLadder said. Unacademy, valued at $510 million, is among the fastest-growing companies in India’s ed-tech sector.