ONLINE EDUCATION
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.
About 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.
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EDUCATION TECHNOLOGY
GoStudent | March 31, 2021
GoStudent, the Vienna-based e-learning startup, has finished a €70 million Series B round drove by new financial backer Coatue along with existing accomplices Left Lane Capital and DN Capital, just a brief time after the expansion of its Series A.
Established in 2016, GoStudent's advanced learning stage brings understudies of any age along with deliberately chose instructors in a virtual one-on-one homeroom setting. The way that this advanced schooling offer has demonstrated mainstream with numerous guardians has inspired the organizers Felix Ohswald (who we talked with a year ago) and Gregor Müller to proceed with the fast development.
The financing will be utilized to additional drive the internationalization of GoStudent, propelling the presence in huge mentoring markets like France, Spain, Italy, the UK, and Ireland. Turkey and Greece will be dispatched in the principal half of 2021 among different nations. Furthermore, GoStudent will put profoundly in marking and item improvement. Before the year's over, GoStudent means to be available in any event 15 nations across Europe and develop its group to +800 representatives and +10,000 mentors.
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EDUCATION TECHNOLOGY
AMLE | July 13, 2021
The American Student Assistance (ASA) and the Association for Middle-Level Education (AMLE) have announced the release of Career Exploration in the Middle Grades: A Playbook for Educators. The digital playbook and its associated online resource center, the first of its type for middle schools, offer evidence-based best practices for effectively conducting career exploration with students aged 10-15. In addition, the playbook provides a beginning point for various career exploration programs, complete with implementation guidelines and case studies from schools throughout the country.
Many of the case studies featured in this playbook are from schools that participated in the ASA Middle School Career Exploration Grant program, the results of which were important in the creation of this playbook. The playbook's primary goal was usability, with practical and approachable resources that schools can use regardless of their current level of programming.
About the Association for Middle Level Education (AMLE)
The Association for Middle-Level Education (AMLE) is an international membership organization that assists middle school educators in engaging every student, growing professionally, and creating great schools.
About American Student Assistance (ASA)
American Student Assistance (ASA) is a national non-profit dedicated to assisting children in becoming more aware of themselves, their options and making informed decisions to accomplish their educational and professional goals. ASA has a 60-year history of assisting students in gaining access to higher education through loans and financial education. In addition, ASA has used its experience to provide impactful solutions for students in grades 6-12 to pursue their dreams.
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