Ed tech start-up upGrad has acquired recruitment and staffing solutions firm Rekrut India, Business Insider has reported. Both companies are based in Mumbai.
upGrad stated that Rekrut will continue to operate separately.
In a joint statement upGrad co-founders Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, stated: “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.”
Ajay Shah, managing director of Rekrut, added: “The upGrad-Rekrut synergy will disrupt the ecosystem and build an end-to-end supply chain of manpower, where Rekrut is the demand partner providing cutting-edge jobs and upGrad will supply the highly skilled, and future-ready talent.”
upGrad is pursuing and M&A strategy and stated there are more to come in the higher education sector. Last month, the compamy acquired Bengaluru-based The Gate Academy for an undisclosed sum and recently raised a 50 crore rupee (£5.1 million) debt fund from IIFL Asset Management.
Date published: 22 December 2020