Indian edtech unicorn Unacademy has acquired test preparation platform NeoStencil in an undisclosed deal to grow its footprint into tier II and tier III cities in India.
Founded in 2014, NeoStencil offers over 500 courses to help learners prepare government entrance exams. It offers both sychronous and asynchronous online classes.
According to NeoStencil, it has partnered with over 100 institutes and has over 1.1 million students on its platform. Its live learning platform is said to have more than 15,000 paying students.
“Our resolve is to ensure that every aspirant has access to the best resources regardless of whether they live in a metropolitan city. Joining the Unacademy Group enables us to realise this vision by being a part of a larger movement,” said Kush Beejal, NeoStencil CEO.
Unacademy is well-funded this year by raising more than $200 million, and its valuation jumps to $2 billion. NeoStencil is its sixth acquisition in 2020.