upGrad | November 30, 2021
upGrad, Asia’s integrated higher edtech leader, has entered into an exclusive acquisition agreement with Global Study Partners (GSP), Australia's largest study abroad company, in a bid to strengthen its overseas education network. upGrad will invest USD 16 Million to buy 100% of GSP and commit a further USD 10 Million for future growth. GSP is slated to close its current financials at a GMV of over USD 10 million which will grow four-fold in the coming year.
Following the impact of the COVID-19 pandemic, 45.2% of prospective global students are now interested in studying their program virtually as an alternative, according to The Impact of COVID 19 on Study Abroad Survey. Canada’s ApplyBoard in the same segment got funded recently at a USD 4 billion valuation. Leveraging this behavioural change, upGrad’s acquisition of GSP strengthens its foray in Study Abroad, one of the fastest growing segments worldwide.
Founded in 2015 and headquartered in Sydney, Global Study Partners (GSP) boasts of an extensive institution network of over 600, with a focus on countries including, Australia, the UK, Canada, and the US, which are some of the most popular Study Abroad destinations in the world. GSP is also armed with more than 1,300 recruitment partners, including education and migration agents, schools, test preparation centres, alumni associations etc.
“As an Integrated EdTech leader - we span the entire gamut of a learner's need from the age of 18-50 and in that, Study Abroad is a key growth initiative for us - not just out of India which is one of the two largest markets but also for our learners internationally. GSP coming into upGrad’s fold will be a needle mover for us to attain a headstart in being a global leader in this segment too.”
Ronnie Screwvala, Chairperson & Co-Founder, upGrad
Elaine Starkey, CEO and Founder, Global Study Partners, said “I couldn’t think of a more complementary business that is underpinned by shared principles and ethics “to empower learners throughout the world. Ronnie and Mayank are true visionaries with a deep understanding of this sector and truly get that 'it's all about the learner’s experience'. GSP partners' - institutions and recruitment partners - worldwide, will enjoy the benefits that the additional reach and capacity GSP can now deliver, and they can expect significant growth in quality student enrolments.”
Students opting for Higher Education abroad from India are increasing rapidly and expected to reach ~1.8 million by 2024, as per Redseer report. They would be spending USD 75-85 Bn overseas, as Online emerges as the dominant channel for availing these services.
“With 150K students every year, Australia is one of the biggest destination markets for Indian learners. With these two education giants in the key supplier and the demand markets combining forces, we are looking to build a revenue of USD 100Mn in study abroad business in the next 3 years,” Gaurav Kumar, President - Corporate Development and M&A, upGrad.
upGrad - started in 2015 is a pioneer in the online education revolution, focused on powering career success for a global workforce of over 1.3 billion. It is one of the few Integrated LifeLongLearning Tech Companies in the world - spanning the college learner to the working professional from the age group of 18-60 years and across Undergrad courses, Campus & Job Linked Programs, Studying Abroad, short form to executive programs to Degrees, Masters and Doctoral - with a learner base of over 2 million across 50 countries and over 300 University partners & a robust enterprise business with a client base of 1000 companies worldwide.
upGrad’s Global Learning Engine rests on four pillars - (a) its large repository of original & owned content and IP, (b) its own best-in-class proprietary tech platform, (c) its high touch human-led delivery service backed by coaches & mentors, and (d) an 85% course completion track record, backed by a further 80% career outcomes guaranteed performance. Already termed Asia’s higher EdTech leader it has offices in the UK, US, Middle East, India, Singapore & Vietnam, and presence in many more countries.
About Global Study Partners (GSP)
Global Study Partners (GSP) is a leading B2B global EdTech marketplace for international student enrolments that works with 600+ Universities and Higher Education Institutes across the globe. GSP empowers students around the world by providing access to the best educational choices when embarking on studying abroad. Founded in 2015, the firm is headquartered in Sydney, Australia and has placed international students from 22 different countries into key study destination markets including Australia, UK, Ireland, US and Canada. GSP is committed to transforming lives through education and building out a globally connected student community.
iD Tech | February 28, 2022
Today iD Tech, the world leader in youth STEM education, announces that it is now the exclusive K-12 education partner of Harvard Business Publishing Education, the not-for-profit with a mission to improve the practice of management in a changing world. This partnership provides access to a unique collection of over 55,000 business learning materials including case studies, simulations, and articles designed to grow learners’ business knowledge and professional skills. This marks the first strategic partnership spearheaded by Emeritus, the global leader in making high-quality education accessible and affordable to individuals, companies, and governments around the world, which acquired iD Tech in 2021.
The curriculum, which has been developed by iD Tech, enables students to develop business and entrepreneurship fundamentals in courses like, “Build Your Business: Think It, Make It, Sell It” and “Disruption: Breaking the Rules of Business.” iD Tech and Harvard Business Publishing have committed to funding full-scholarships for at least 10% of students participating in the courses, ensuring underrepresented students from all socioeconomic backgrounds have access to the program.
iD Tech serves as a clear pathway to educational and career success, with 97% of iD Tech students going on to attend a 4-year college. Higher levels of education are generally associated with a greater likelihood of employment, and those with higher levels of education are more likely to be employed in higher paying jobs. With 8 in 10 kids wanting to be their own boss one day, students have even more avenues to future success with the engaging learning material from Harvard Business Publishing.
“Between hybrid learning adjustments and curriculum challenges, parents are turning to supplemental learning options to best position their kids for future success,” says Pete Ingram-Cauchi, CEO of iD Tech. “Like wealth, education should improve with each generation. We are positioned to possibly miss that goal largely due to inequitable access to quality instruction. We are honored to partner with Harvard Business Publishing to ensure our future leaders have an environment to learn, explore, and build on their interests.”
The opportunity gap in college admissions, and ultimately career success, is taking a front seat after a tumultuous year in education. The number of total college applications submitted increased by 22% in 2021. However, just 5% of applicants came from the bottom quintile of neighborhoods [Common App Estimate]. Additional learning methods, such as this iD Tech program, serve to close this gap, and create more ways for all students to have an equal opportunity at fulfilling their dreams.
“As we celebrate the centennial of the case method pioneered by Harvard Business School, Harvard Business Publishing is pleased to partner with iD Tech to bring this learning to a pre-college audience. Our impactful case studies, simulations, Harvard Business Review articles and other learning materials will help these students develop important leadership and entrepreneurship skills that will benefit them throughout their lives,” said Ellen Desmarais, Senior Vice President of Higher Education for Harvard Business Publishing.
“This strategic partnership is an impactful way for iD Tech’s incredible expertise in youth education and our existing university partnerships to work together. iD Tech’s partnership with Harvard Business Publishing combines the best of each organization to further build on our mission of providing access to high quality educational content for learners of all ages around the world.”
Ashwin Damera, CEO and co-founder of Emeritus
As one of the first purpose-driven companies out of Silicon Valley, iD Tech believes you cannot dream what you cannot experience. Together with Harvard Business Publishing, iD Tech is bringing an evolution to how students gain access to world-class instruction to ignite their passions.
About iD Tech
iD Tech is the world leader in STEM education where kids and teens learn from the best. With live learning and mentorship from experienced instructors, iD Tech converts real-world interests into lasting STEM careers. Curriculum developed in partnership with professors from top universities and tech entrepreneurs covers topics like coding, 3D modeling, artificial intelligence, robotics, game design, and entrepreneurship. Family-founded 23 years ago, iD Tech is one of the first purpose-driven companies to come out of Silicon Valley, granting life-changing educational experiences to underrepresented communities. In 2021, iD Tech was acquired by Emeritus, the global leader in making high-quality education accessible and affordable to adults, companies, and governments, in order to facilitate a lasting learning pipeline to prepare individuals of all ages to succeed in the workforce.
Emeritus is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, companies, and governments around the world. It does this by collaborating with more than 50 top-tier universities across the United States, Europe, Latin America, India and China. Emeritus’ short courses, degree programs, boot camps, and senior executive programs help individuals learn new skills and transform their lives, companies and organizations. Its unique model of state-of-the-art technology, curriculum innovation, and hands-on instruction from senior faculty, mentors and coaches educates more than 100,000 students per year across 80 countries. Founded in 2015, Emeritus, part of the Eruditus Group, has more than 1,000 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, London, and Dubai. The company has raised over $160 million in capital and is backed by the Chan Zuckerberg Initiative, Sequoia India, Leeds Illuminate, and Prosus Ventures.
About Harvard Business Publishing
Harvard Business Publishing is a not-for-profit, wholly-owned subsidiary of Harvard University, reporting into Harvard Business School. Our mission is to improve the practice of management in a changing world. This mission influences how we approach what we do here and what we believe is important. HBP serves as a bridge between academia and enterprises around the globe through its publications and platforms for content delivery. The company is comprised of three divisions: Higher Education, Corporate Learning, and Harvard Business Review.
Allschool | June 20, 2022
Allschool, an innovative online education platform, is set to introduce its one-stop learning solution for homeschoolers at the Great Homeschool Convention that is scheduled to run from June 16th through 18th in California. As one of the most popular homeschooling events of the year in North America, this convention will see the company bringing its student-centered online education platform to parents seeking a flexible and interactive e-learning service.
The diverse selection of globally 12-themed courses and more allows homeschoolers to discover intriguing facts about different nations and broaden their minds. At the same time, using Allschool's self-developed class tool "speak in the center of the stage" and other interactive features, homeschoolers can make friends from all over the world without stepping out of their house. They can also communicate freely in a relaxed environment and improve their social and emotional skills.
Allschool's one-stop solution is designed to allow parents to take full advantage of the flexibility that homeschool offers while giving learners access to premium online lessons. A myriad of course options to supplement the standard curricula are offered which gives homeschoolers the freedom to individualize the curriculum structure. Besides, all the courses are delivered by accredited and experienced teachers with diverse educational and professional backgrounds.
"We are thrilled to unveil our new home education solution "Homeschool Package" at this long-anticipated event that attracts countless leading online education providers and homeschool families across the continent each year. It is built upon our excellent educational resources and extensive experience in creating a fun and interactive online learning platform to give kids an opportunity to experience the world's culture by making friends with students worldwide. The solution features 12 classes designed and delivered by experienced homeschool teachers to fit different children's learning styles, skill levels, and interests, enabling them to experience a new approach to homeschooling learning," said Jacob Kantor, the US regional business development manager of Allschool, making an announcement at Great Homeschool Convention.
The move comes as more US families start opting for homeschooling as a solution to fill the gaps in their children's education due to the pandemic. The National Home Education Research Institute has recorded a significant increase in the number of families shifting to homeschooling and estimates the figure continues to rise at the rate of 2%-8% each year.
With its flexible learning environment, online Allschool programs not only allow students to select desired subjects to achieve their unique goals but also empower them to learn at any time, any place with online, self-paced courses.
In an interview with Ms. Homa, an Allschool homeschool teacher who has also worked as an English, Art, and History teacher in a public school for 18 years, she said, "it is important for homeschool children to have peer discussion and have access to different opinions around the world. The greater diversity of the online education platform can strengthen their social connections or skills."
"We understand that homeschool parents are constantly looking for a new way that let their children better interact with other students. With this in mind, Allschool strives to create a space where learners from all over the world can come together to find common topics and interests, make friends and have fun," said Jack Shan, Allschool Co-Founder.
Allschool is an innovative online platform that delivers highly interactive small-group live classes to children worldwide. Through Allschool, learners can enjoy a variety of premium live classes – including mathematics, languages, visual arts, game design, and more – delivered by thousands of devoted and talented teachers from all around the world.
An expert in online education, Allschool has developed a set of innovative purpose-built teaching and learning tools that bring meaningful changes to learning outcomes, allowing students to immerse themselves in a rewarding, gamified, and interactive environment that empowers them to explore and pursue their interests while making schooling fun and enjoyable.