Indian edtech unicorn Unacademy buys networking platform TapChief

(From left to right) Unacademy Founders Roman Saini, Gaurav Munjal and Hemesh Singh

Edtech unicorn Unacademy has acquired networking platform TapChief at a 100 crore valuation. This is its sixth acquisition in the last one year.

TapChief is a professional networking and future-of-work platform which enables professionals to learn, network and win short-term projects. As part of the deal, Unacademy will acquire a majority stake in TapChief and enable the exit of all existing investors.

The company did not disclose the deal value.

“Our endeavour at Unacademy has always been to democratise education and make learning accessible and affordable for everyone. TapChief shares a similar ethos in a different space, as evident from the open community of professionals and learners they’ve created,” said Gaurav Munjal, Co-Founder and CEO, Unacademy Group.

TapChief will be leveraged to build Unacademy Pro, a platform which helps one become a pro and get a dream job, Munjal said on Twitter.

“Unacademy started by levelling the playing field for students who can’t travel to Kota, Delhi and other cities by getting them access to these educators and highest quality content for a fraction of the cost. And now it’s time for us to help students get their dream jobs by getting them the best education and access to top companies which they are not getting. This is the reason we are acquiring @tapchief,” Munjal tweeted.

Bengaluru-based TapChief uses technology solutions to help professionals to interact and learn from experts, work with businesses from across the world, and aggregate their personal brand online.

TapChief claims to have over 150,000 registered professionals, who use the platform to collaborate with experts from their chosen domains and take up short-term professional projects.

Founded in 2016 by BITS Pilani alumni, Shashank Murali, Binay Krishna, and Arjun Krishna, TapChief caters to over 150 enterprise customers across sectors such as education, e-commerce, enterprise SaaS, fast-moving consumer goods among others.

“TapChief’s mission has been to empower the modern Indian professional with access to a wide array of opportunities that enhances their career and growth. Starting from college as undergraduate students to becoming a part of one of India’s best-known unicorns has been a dream come true for a young team like ours,” said Shashank Murali, Co-Founder and CEO, TapChief.

Edtech firms such as Unacademy and Byju’s gained significantly last year as schools closed due to the coronavirus pandemic and students took to online classes.

After raising multiple rounds of funding last year, both edtech companies have been on an acquisition spree, and continue to scout for strategic buyouts.

Byju’s is in advanced talks to acquire smaller rival Toppr for $150-160 million, as consolidation continues in India’s booming online learning sector.

Unacademy, which turned unicorn last year and is valued at around $2 billion, acquired multiple startups in recent months, primarily in the test prep space, including NeoStencil, Mastree, PrepLadder, CodeChef and Coursavy.

Over 150,000 live classes are conducted on the Unacademy platform each month and the collective watch time across platforms is over 2 billion minutes per month.

The article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.