Higher education tech firm upGrad has fully acquired corporate training solutions leader Centum Learning in a share swap deal, the company announced on Thursday. Following the deal, Bharti Enterprises Limited and its affiliates are joining the edtech’s cap table.
“Enterprise workforce upskilling is a supercritical need; however, the sector remains highly fragmented. upGrad has always seen enterprise upskilling as a strategic growth driver, and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLongLearning ecosystem for our stakeholders,” Mayank Kumar, co-founder and MD, and Gaurav Kumar – President, Corporate Development of upGrad said following the acquisition.
Centum Learning, which offers impact-based training to corporates and vocational and educational training to schools and college learners, is likely to clock a revenue of Rs 170 crore in the financial year 2022-2023.
Headquartered in Delhi, the company uses its proprietary Centum 5D training methodology and Learning eXperience Platform (LXP)- Centum LearnPro, to provide all-round learning solutions for entry-level professionals to mid-level leaders with direct and measurable business impacts.
“With over 3000 L&D specialists, Centum Learning has trained more than 2 million people while also impacting 400+ corporates across India & Africa,” upGrad said.
Also Read: upGrad raises $210 million in latest funding, plans to hire 2,800 employees over 3 months
Centrum has a total strength of over 2000 employees who will continue to operate independently under the leadership guidance of Sanjay Bahl, Managing Director and CEO, according to the edtech’s statement.
“Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results,” Bahl said.
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