Edtech company, upGrad has announced the acquisition of the recruitment and staffing solutions company, Rekrut India, to enhance career outcomes for learners.
Pursuant to the acquisition, the hiring company, being a 100% subsidiary of the edtech startup, will function independently.
Ajay Shah, Managing Director, Rekrut, said – “Currently in the market we operate in, we don’t give jobs to people; we give people to jobs. This is predominantly due to the skill gap in India. 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. We will be taking the learners’ pipeline to the relevant industry stakeholders thereby helping them find the right talent with speed, while in parallel offering a wider choice of career transition for upGrad learners.” He will continue as the Managing Director.
Speaking on the acquisition – Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, upGrad Co-founders, said in a joint statement – “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.”
Speaking on the developments, Gaurav Kumar, President – Corporate Development, upGrad, remarked – “Our M&A strategy is focused towards building a wider higher education and career ecosystem and Rekrut fits-in perfectly with its capabilities to drive tangible ROI for our learners. upGrad’s plans of 300% growth in its paid learner base and driving career outcomes for these 1.2 million learners by FY25, will be further accelerated with this strategic acquisition.”
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.