Simplilearn Acquires New York based Fullstack Academy, Aims to Achieve $200mn in Revenue by FY24
Blackstone-backed edtech major Simplilearn announced its 100% acquisition of Fullstack Academy, a trailblazer in tech education in the United States
The acquisition accelerates Simplilearn’s growth in the United States, with access to over 20 new university and government partnerships across the country
Fullstack Academy has over 300 employees spread across the US and is on track to deliver over USD 30M in revenue this year
Mumbai, November 28, 2022: Simplilearn, the world’s leading online bootcamp for digital skilling training, announced that it has acquired a U.S.-based bootcamp education company, Fullstack Academy, for an all-cash transaction. This will be the company’s second acquisition after Market Motive in 2015. Simplilearn has grown exponentially by over 60% in the past year and this complementary acquisition will accelerate Simplilearn’s journey to become the largest digital skilling company globally. The news of the Fullstack Academy acquisition comes right after the latest funding by the GSV led consortium. The acquisition will enhance Simplilearn’s scale and presence in the bootcamp space and drive revenue growth to $200mn by FY24, of which 70 percent is likely to come from global markets.
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Fullstack Academy is a premium bootcamp provider that has expanded its offerings, introducing new bootcamp programs in Web Development, Cybersecurity, Product Management, DevOps, Data Analytics, and other disciplines. Over the years, the company has built strong partnerships with twenty university and industry partners, growing to over 7,000 alumni across the U.S. It also runs the highly successful Grace Hopper Program with an aim to encourage women and nonbinary students to pursue tech careers.
Fullstack’s existing partnerships across 15 states provides Simplilearn access to new university partnerships that will expedite Simplilearn’s growth in the region. Simplilearn credits Fullstack Academy’s established reputation for quality outcomes, positive student feedback, trusted partnerships, and talented employee base, as the primary factors behind its acquisition of the tech bootcamp provider. Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organization, bringing Simplilearn’s total employee count to over 2,500. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.
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Sharing details on the acquisition, Mr. Krishna Kumar, Founder, and CEO, of Simplilearn, said,
“Bootcamps have been an extremely popular concept in the Edtech industry, and there is no denying that learners are looking for the holistic learning experience that bootcamps offer. Through Fullstack Academy’s wide-spread footprint in the U.S. and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans. It is amazing to find a business whose vision is similar to ours and complements our pedagogy and belief system. We are certain we will be able to leverage each other’s capabilities synergisitically to build a strong company.”
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