Dubai: The Indian edtech portal upGrad has acquired KnowledgeHut, which has operations in the Gulf. With this acquisition, upGrad will have access to KnowledgeHut’s learner pool of 250,000 students.
KnowledgeHut - now rebranded as ‘KnowledgeHut, an upGrad company’ - expects to cross $40 million in revenue next year, 65 per cent of which will be from countries across MENA and Souteast Asia. “With our focus on short-term professional upskilling, KnowledgeHut is driving outcome-based immersive learning for global technologists and the wider professional community,” said Subramanyam Reddy, CEO. “Given our position in global markets, this synergy with upGrad will further strengthen and support that vision. The acquisition paves the way for upGrad to empower B2B customer segments across geographies including the US and the Asia Pacific.
upGrad is venturing into the short duration upskilling and reskilling segment, which has a market potential of over $58 billion. KnowledgeHut started its Middle East operations in 2018 and achieved 250 per cent growth in three years. Ronnie Screwvala, Chairperson and co-founder of upGrad, said, “With KnowledgeHut on board, our focus on being an integrated life-long learning partner for powering career success for the global 1 billion workforce just got stronger.”
Founded by Reddy in 2011, KnowledgeHut is focussed on equipping the global workforce with the skills of the future through outcome-based immersive learning. Post-acquisition, KnowledgeHut will operate as a wholly owned subsidiary of upGrad. Reddy will be at the helm in his new role as the CEO.