Edtech Startup ‘upGrad’ Acquires Recruitment And Staffing Solutions Company ‘Rekrut India’
Edtech startup upGrad has acquired Rekrut India, a recruitment and staffing solutions company, at an undisclosed amount.
The acquisition allows upGrad to have complete involvement in the lifecycle of a learner – from education to employment. Also, Rekrut gets access to more than half-a-million learners that have completed their courses on upGrad.
This is the first kind of acquisition deal in India, where an edtech company has acquired a recruitment firm. And with the acquisition, Rekrut India will become a 100% subsidiary of upGrad.
Talking about the acquisition, upGrad Co-founders Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, in a joint statement, said,
“Rekrut will now open the floodgate of career opportunities for upGrad learners. Hence, we are thrilled to announce the onboarding of the team, a significant step in making upGrad a career powerhouse for professionals. This move is integrally aligned with our company’s vision of powering career success for every member of the global workforce as their trusted lifelong learning partner.”
The recruitment sector is a Rs 15,000-crore market, and with the acquisition, upGrad is confident that its current volume will boost by 10x.
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