Unacademy ends year by acquiring NeoStencil to strengthen test prep stronghold

India’s second most valued edtech company Unacademy has struck another acquisition deal before the year ends. The SoftBank and Facebook-backed company has acquired test prep startup NeoStencil for an undisclosed amount, its fifth acquisition this year.

“NeoStencil has offers 500+ courses to a millions students. And we believe together we can create a huge impact and build products that help our Learners crack their goals,” Unacademy co-founder and CEO Gaurav Munjal tweeted.

The latest acquisition will help fortify Unacademy, the online learning platform for cracking competitive exams growth in the test prep segment of edtech sector in India.

Originally launched as a YouTube channel in 2020 and later incorporated as a company in 2015, Unacademy has so far made six acquisitions. Its first purchase of 2020 was Kreatyrx in March 2020 that offered products including online test series, video courses, postal courses, and coaching classes for GATE and SSC CGL aspirants. In June, Unacademy acquired serial entrepreneur and billionaire Bhavin Turakhia’s CodeChef for programmers to learn competitive programming. Following month, Unacademy acquired PrepLadder – an online platform for medical entrance exam preparation for $50 million. Further, it had bought UPSC CSE prep platform Coursavy in September. Unacademy had also acquired a majority stake of 51 per cent in Mastree – an online platform for kids to hone communication skills in July through a strategic investment of $5 million.