Google-backed edtech firm Adda247 has taken a significant step in expanding its offerings by acquiring PrepInsta, a platform focused on helping individuals prepare for job placements. Although the financial details of this acquisition have not been disclosed, it underscores Adda247’s commitment to being a comprehensive provider of education and skill development for both public and private sector jobs.
With PrepInsta now in its portfolio, Adda247 has made a total of four acquisitions. Previous acquisitions include StudyIQ, a UPSC preparation platform in 2021; Veeksha, a company specializing in augmented and virtual reality learning modules, bought earlier in 2023; and Ekagrata Eduserv, a firm focused on chartered accountancy exam preparation, acquired in July.
Bimaljeet Singh Bhasin, CEO of Adda247’s skilling and higher education division, elaborated on the company’s strategic shift, saying, “We were primarily focused on government job preparations until about four months ago. Since then, we’ve broadened our scope to include skilling and higher education, entering the private sector job market. Our aim is to be a fully integrated player in both job preparation and skill development, while also collaborating with companies to nurture talent across public and private sectors.”
Bhasin noted that the company will focus on specific industries such as banking, financial services, insurance, and technology for its skilling programs. “The tech sector, in particular, employs the most people, which is why it’s a key focus for us in terms of job-related programs. The PrepInsta acquisition is part of our larger strategy to make an impact in this space,” he explained.
Founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247 offers a range of courses aimed at government job aspirants, covering sectors like state-run banks, railways, and other government departments. The platform delivers live online classes, on-demand video tutorials, mock tests, e-books, and physical books customized for different competitive exams. Available in 12 regional languages, the platform caters to over 40 million users monthly, with 2 million students enrolled in its premium courses.
In the financial year 2023-24, Adda247 achieved revenue of Rs 243.39 crore, reflecting an 88% increase from Rs 129.65 crore in the previous fiscal year. Additionally, the company significantly narrowed its net losses to Rs 101 crore, down from Rs 296 crore.
Commenting on the acquisition, PrepInsta cofounder Atulya Kaushik said, “Many engineering students and recent graduates already use Adda247. This will enable us to introduce tech and digital skills programs to over 1.2 million paying users.”
Adda247’s latest funding round was in 2022, where it raised $35 million, led by WestBridge Capital, with participation from Google and existing investors like Info Edge Ventures and Asha Impact. To date, Adda247 has raised $63 million in total.