After raising $45 million, Blackstone-Backed Simplilearn Acquires US-Based Fullstack Academy
Edtech startup Simplilearn announced recently that it has acquired US-based bootcamp edtech startup Fullstack Academy in an all-cash deal with the financial details undisclosed.
Reportedly, the acquisition will help Simplilearn drive revenue growth up to $200 Mn by the financial year 2024.、
The development comes a week after Simplilearn secured $45 Mn in a funding round led by GSV Ventures. Clal Insurance and ADQ’s venture platform DisruptAD also participated in the funding round.
Founded in 2010 by Krishna Kumar, Simplilearn offers upskilling courses to students and working professionals. Some of the courses offered by the startup include cyber security, cloud computing, project management and data science, among others.
Simplilearn also offers upskilling courses in partnership with academic institutions and international organisations such as IBM, Microsoft, Amazon, Meta, and KPMG, among others.
The startup counts Fullstack Academy as its second acquisition after buying Market Motive in 2015. It also claims to have grown by 60% since 2021.
Founded in 2013 by former Yahoo executives David Yang and Nimit Maru, Fullstack Academy offers coding, cybersecurity, data analytics, and product management bootcamps in the US. It claims to have partnered with 20 universities and industry partners.
Fullstack asserts that it has a headcount of more than 300 employees in the US and is aiming to clock a revenue over $30 Mn this year.
JMDedu is a leading B2B EdTech Media in China that informs and connects business professionals through our reports, events, and information services. Our mission is to drive the advancement of education. Our network spans the education industry in China as well as globally, including entrepreneurs, investors, startups, educators, business decision-makers, and policy decision-makers.
