Imarticus Learning Acquires MyCaptain for Rs 50 Crore
Imarticus Learning, a notable professional education firm, has successfully acquired the edtech startup MyCaptain for Rs 50 crore (around $6 million). This strategic acquisition marks Imarticus Learning’s fourth in the last four years, significantly enhancing its workforce to over 850 employees. Additionally, the acquisition brings a cadre of ex-founders into its senior leadership team, enriching it with entrepreneurial knowledge and experience.
Founded in 2016 by Mohammed Zeeshan, Sameer Ramesh, and Ruhan Naqash, MyCaptain is an innovative edtech platform designed to help individuals navigate and pursue careers driven by passion. The platform fosters connections between students and young achievers across various career trajectories, providing mentorship and guidance in both creative and entrepreneurial arenas.
MyCaptain has built a robust presence in over 1,500 campuses, with 60% of its clientele originating from tier 2 and tier 3 cities. Additionally, a noteworthy 80% of its user base comes from creative and entrepreneurial sectors. The startup has successfully secured $4.7 million in funding from a range of investors, including Ankur Capital, Firstport Ventures, Inflection Point Ventures, and the Singapore Angel Network.
In the previous fiscal year, MyCaptain reported a revenue of Rs 27 crore, achieving an EBITDA breakeven.
This acquisition will empower Imarticus Learning to roll out MyCaptain’s employability bootcamps focused on emerging sectors such as Digital Marketing, Design, and Content, across its network of over 20 classroom centres in more than 16 cities. This action aligns seamlessly with Imarticus’ ambition to strengthen its presence in tier 2 and tier 3 cities, aiming to reach 5 million learners in the next three years.
Previous acquisitions by Imarticus include the gaming-focused learning platform StratOnBoard in 2022, the social learning platform Eckovation in 2021, and the training division of Hero Group, Hero Mindmine, in April 2023.
Commenting on the acquisition, Nikhil Barshikar, Founder and CEO of Imarticus Learning, noted that while past acquisitions have been instrumental in diversifying their portfolio and addressing the evolving needs of learners, the addition of MyCaptain aims to enhance accessibility in non-tech career areas and significantly broaden their reach within tier 2+ cities.