Edtech unicorn upGrad acquires recruitment & staffing firm Wolves India
- ByStartupStory | July 15, 2022
upGrad, an ed-tech unicorn, has agreed to purchase Wolves India, a recruitment and employment service, for an undisclosed sum. Through its unique product Quasara, the startup also handles hiring issues in the aerospace sector, assisting multinational corporations in establishing their offshore operations.
Mayank Kumar, the co-founder and MD, upGrad said, “While upGrad Rekrut enabled us to witness our students earning record-breaking CTCs in FY22, partnering with WOLVES India will offer us a competitive edge in the tech sector. It will encourage more employment prospects for our students, including better career acceleration and higher compensated tech roles.”
The startup introduced five new offline experience centres earlier this week in Delhi, Jabalpur, Kolhapur, Kottayam, and Patna. upGrad also disclosed last month that it planned to hire 3,000 people over the following three months.
At a time when ed-tech startups are turning to layoffs, these announcements are made. Recent layoffs at companies controlled by BYJU’S, including WhiteHat Jr., Unacademy, Vedantu, Lido Learning, and others, indicate that the sector has lost its lustre since the pandemic high. These ed-tech businesses that were founded primarily online are now recreating themselves by using a hybrid strategy.
WOLVES India, a Bengaluru-based company founded in 2014, specialises in placing tech talent across startups, mid-sized companies, and major organisations both in India and abroad. Wolves India has completed over 5,000 postings in technical and product roles with 70 professionals.
Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli established upGrad in 2015. The leading higher education technology firm in South Asia, upGrad, offers more than 100 courses in association with prestigious international universities. According to the LinkedIn Top Startups list, it is also No. 1 in India.
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