With this acquisition, the Bengaluru-based startup will now offer courses in data and business analytics in addition to web development and UI/UX design as it aims to become a one-stop destination for outcome-based education in India, Masai School founder and chief executive Prateek Shukla told ET.
Prepleaf, founded in 2017 by IIT Kanpur alumni Ankit Agrawal, Amit Saharan and Aman Singhal, offers 5-month-long courses in data analytics.
This is Masai School’s second acquisition after Bengaluru-based institute Design Shift Academy to offer courses in user experience (UX) design and user interface (UI) design, in addition to its full stack web development course.
It comes after the company announced an undisclosed sum of funding from the likes of Paytm founder Vijay Shekhar Sharma and Cred founder Kunal Shah in October and had raised a Series A round led by Omidyar Network India earlier in the year.
“We have over 700 hiring partners recruiting skilled developers from us,” Shukla said. “This acquisition helps us increase the offering for our hiring partners.”
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Prepleaf has around 250 students enrolled in the data analytics test preparation courses.
Like Masai, it offers courses through an income share agreement, where students study at zero-upfront fees and only pay if they earn more than Rs 5 lakh per annum after course completion. Prepleaf’s average placement rate is 90% with an average salary package Rs 7.5 lakh.
“Prepleaf was founded with the single-minded focus of creating a paradigm shift in access to quality tech education and jobs in data and business analytics,” its cofounder Ankit Agrawal said. “We are certainly thrilled to be part of the Masai family and make this ambition a reality by transforming the way skill-based education is delivered today and creating a world-class talent pool from India.”
Masai School’s Shukla said the company constantly evolve its curriculum to offer the most relevant skilled resources to recruiters. “Over 50 startup CTOs (chief technology officers) help us develop the curriculum so people can start working immediately with relevant skillsets.”
He said the company is on track to report annualisedrecurring revenueof $18 million by the next financial year. “We hope to have over 30,000 students graduating next year,” he said.
“Earlier we used to think that we should expand to other geographies, but we realised that post-Covid global companies are hiring from us anyway,” Shukla said. “So, we will continue to focus on the India market.”
Masai School’s 700+ hiring partners include Samsung, Sharechat, Urban Company, Instamojo, Airmeet, GlobalLogic, Lendingkart, Mobile Premier League (MPL), Nobroker, and Paytm.
Around 65% of its full-time students come from non-computer science backgrounds with at least 20% joining after their 12th standard without undergraduate degrees. Over 70% of these students come from tier 2 and 3 cities. Engineering students usually opt for part-time courses.
Founded in 2019, Masai School offers courses online and through its offline campuses in Bengaluru, Patna, Pune and Indore. It works with NBFCs to underwrite the students’ fees.