Highlights
BrightCHAMPS Acquires Edjust to Accelerate Global Expansion
BrightCHAMPS, an edtech platform backed by GSV Ventures, has successfully completed the acquisition of Edjust, a K12 education marketplace, in an undisclosed cash and stock transaction aimed at enhancing its international growth strategy.
Founded in 2022 by industry veterans Dushyant Panchal, Anmol Mittal, and Sanjay Panikar, Edjust leverages artificial intelligence, human emotional intelligence, and data-centric contact centres to engage parents who are keen on edtech products. The company has built robust networks of parents in both the US and UK.
Objectives of the Acquisition
BrightCHAMPS has stated that the acquisition is designed to implement stricter customer acquisition standards. The founders of Edjust intend to refine the sales model and expand parent networks across the 30 regions in which the company operates.
By integrating customised augmented reality (AR), virtual reality (VR), and extended reality (XR) interactive experiences, potential students and their families will have an enriched understanding of their learning paths should they choose to enrol in the programmes. BrightCHAMPS highlighted this initiative in their communications.
Ravi Bhushan, the Founder and CEO of BrightCHAMPS, commented that the acquisition signifies a vital milestone, serving as a financial benchmark reflecting the company’s priorities and sustainable growth strategy.
Moreover, he expressed the belief that high customer satisfaction and net promoter scores are essential for the long-term success of an edtech product, which can significantly impact a customer’s life over many years.
Strategic Initiatives
In addition to refining the existing model, the founders of Edjust will spearhead efforts to create a new distribution channel. This channel will focus on delivering educational content in subjects such as:
- Mathematics
- Science
- English
These subjects aim to contribute to students’ overall success and preparedness for the future.
Dushyant Panchal, Co-founder and CEO of Edjust, expressed enthusiasm about contributing to BrightCHAMPS’ mission to become the leading global educational solutions provider, delivering content in languages that students are most comfortable with.
BrightCHAMPS’ Offerings and Funding
BrightCHAMPS provides various online, offline, and hybrid STEM-accredited classes in subjects ranging from coding and robotics to financial literacy and Vedic maths, reaching over 30 countries worldwide.
Since its establishment in 2020, BrightCHAMPS has raised a total of $63 million from prominent investors, including:
- GSV Ventures (US)
- BEENEXT (Singapore)
- Premji Invest
- 021 Capital (backed by Binny Bansal from India)
Recent Acquisitions
The acquisition of Edjust marks the fourth strategic acquisition for BrightCHAMPS. Notable previous acquisitions include:
- In April 2023, the company acquired ISB-incubated Metamorphosis Edu in an undisclosed cash-and-stock deal.
- In August 2022, it took over Singapore-based Schola, a live-learning platform focused on communication skills and English, for $15 million in cash and stock.
- BrightCHAMPS also acquired Education10x, a financial literacy edtech startup located in Singapore.
Industry experts have indicated that as companies encounter challenges in identifying viable business models amidst tightening investor funding, not all will possess the financial resilience necessary to sustain operations, prompting a wave of mergers, acquisitions, and consolidations in the sector.
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