TimesInternet Backed Getmyuni Acquires MEMG, Lionrock Capital Backed Avagmah
With the acquisition, Getmyuni will enable universities to offer online degrees and certifications.
Bengaluru based edtech startup GetMyUni has acquired online learning company Avagmah from AEON Learning in an all-cash deal on June 18th 2020. Avagmah, founded in 2015, had raised $5 million from marquee investors like Lionrock Capital, Zodius Capital, Kris Gopalakrishnan, Atul Nishar, MEMG(Manipal Group) before it merged with Acadgild to form AEON Learning.
Avagmah is a full-stack OPM (online program manager) and enables universities to fully outsource their online programs. Through this acquisition, Getmyuni now enters the online certification and degree-granting space which has seen tremendous growth over the last couple of years and an even more significant uptick post-COVID-19. Avagmah has worked with some top tier universities and colleges such as IIM Ahmedabad, IIM Calcutta, Pondicherry University, Bharathidasan University, Alagappa University, NIT Kurukshetra to name a few.
Getmyuni is a TimesInternet backed edtech platform which helps students with their post-K-12 learning journey. It owns and operates getmyuni.com, ieltsmaterial.com and thecollegemonk.com. Post the Avagmah acquisition Getmyuni will be using its existing distribution of a 40M annual user base and over 300 university partners to enter the OPM space.
"Since inception, we have always wanted to create impact at scale. Our core business of student acquisition for universities across India and abroad has grown over 200% since 2019. This acquisition allows us to complete the value chain for our users, by directly impacting the content delivery part of the business too. After the lockdown, online learning adoption has surged and there are huge regulatory tailwinds which suggest that this would end up being a multi B$ market, very similar to how it has panned out OPMs like 2U in the west. This acquisition allows us to pursue our vision to make higher education accessible to everyone in India, irrespective of their financial status or access to traditional offline setup, wherein private education is too expensive and public, very average in outcomes," said Upneet Grover, CEO and Founder of Getmyuni.
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