Edtech company Byju’s has acquired Bengaluru-based math learning startup Math Adventures for an undisclosed amount. This is overall Byju’s fourth acquisition in the last 18 months.
The company’s earlier acquisitions include TutorVista, Edurite (In July 2017), and data analytics platform Vidyartha (In Jan 2017).
With the latest acquisition, Byju’s will soak the Math Adventures team into its content and R&D team. Besides, the Tencent-backed company will use it to develop its K-3 product, reports ET.
Math Adventures was founded by Vidya Jayaraman in 2015. It essentially helps children learn through an innovative combination of friendly, short videos and an activity-based approach using workbooks and tablets.
Math Adventures has partnered with schools for classes from pre-KG to the grade eight. The startup claims about 7,000 students across 12 schools enrolled with it mostly in Bengaluru and with a small presence in cities like Mysuru, Tezpur, and Jodhpur.
The kids-focused startup will leverage Byju’s wide presence especially its graphics and videos-enabled curriculum.
On the other hand, the acquisition will add another shot in Byju’s arm and prove its dominance it edtech space.
Byju’s has over 20 million users and 1.26 million annual paid subscribers. Through its flagship product-Byju’s-The learning app, it offers learning programmes for class K-12 & test preparation for JEE, AIPMT, CAT, IAS, GRE & GMAT.
Apart from India, it has been aggressively expanding in different geographies including the US, the UK, and Australia. It had recently hired around 600 employees across product, content, tech and business development roles.
The only startup to gain Unicorn status in edtech segment, Byju’s expected to reach profitability in FY18. The company has been growing at 100 per cent annually for the last three years and recently crossed Rs 100 crore in monthly revenue.
Byju’s is targeting a revenue of Rs 1,400 crore this financial year.
So far Byju’s has raised about $244 million from investors including Chan-Zuckerberg Initiative, Sequoia, Sofina, Lightspeed Ventures, Verlinvest, Aarin Capital and Times Internet.
A separate report claimed that the company is in talks with new and existing investors to raise about $150 million at a valuation of $1.8-2 billion.
The Byju Raveendran-led company competes with Edureka, Onlinetyari, Simplilearn, Meritnation including several others.