You are here: Home » Companies » Start-ups » News
Business Standard

Online education company upGrad acquires recruitment firm Rekrut India

upGrad, an online higher education company, on Tuesday said it has acquired recruitment and staffing solutions company Rekrut India

Topics
Online education

Press Trust of India  |  New Delhi 

E-learning, online education, online training

upGrad, an online higher education company, on Tuesday said it has acquired recruitment and staffing solutions company Rekrut India.

While the company did not disclose details of the transaction, upGrad said it has acquired 100 per cent stake in Rekrut India.

Given the massive potential of the recruitment sector, which is a Rs 15,000-crore market, upGrad firmly believes an independent business in this sector will provide strong non-linear growth opportunities for the company, it added.

Mumbai-based Rekrut India has a network of over 100 recruiting experts and works closely with many start-ups, MSMEs, and large enterprises.

"Acquisition of Rekrut will turbocharge its career engine by opening up wider placement opportunities and propelling accessibility of upGrad learners to Rekrut's hiring partners," a statement said.

upGrad co-founder Ronnie Screwvala said the acquisition of Rekrut is a significant step in making upGrad a career powerhouse for professionals.

"This move is integrally aligned with our company's vision of powering career success for every member of the global workforce as their trusted lifelong learning partner," he added.

Rekrut Managing Director Ajay Shah said the upGrad-Rekrut synergy will disrupt the ecosystem and build an end-to-end supply chain of manpower, where Rekrut is the demand partner providing cutting-edge jobs and upGrad will supply the highly skilled, and future-ready talent.

"We will be taking the learners' pipeline to the relevant industry stakeholders thereby helping them find the right talent with speed, while in parallel offering a wider choice of career transition for upGrad learners," he added.

Post the acquisition, Rekrut India, a 100 per cent subsidiary of upGrad, will continue to operate independently with Ajay Shah continuing as the Managing Director, the statement said.

Prior to Rekrut, upGrad's in-house career services team was reaching out to around 100-200 hiring partners in a year and drove over 1,000 career transitions in 2020.

With Rekrut's expertise and core business being driving placements, upGrad is fairly confident to boost its current volume by 10X and drive meaningful career outcomes for learners, at scale, and with speed, the statement said.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 15 2020. 22:39 IST
RECOMMENDED FOR YOU
.