Thinkcell acquires Testfunda.com
Thinkcell Learning Solutions Pvt. Ltd. (formerly Gateforum Educational Services Pvt. Ltd.) has recently acquired elearning company Enabilon Learning Pvt. Ltd. which offers its testprep packages through Testfunda.com. YES Bank was the financial advisor from Enabilon Learning Pvt. Ltd.
Mohit Goel, CEO & MD, Thinkcell said “The acquisition of Testfunda.com is a strategic move on our part. TestFunda’s robust technology platform will now be used to create synergies for our existing divisions in the online space and provide scale. At the same time, it enables us to diversify our domain to include MBA entrance, Bank entrance and UPSC. “
TestFunda.com is the national leader in online aptitude test prep focusing on MBA & Bank test prep market. TestFunda has a strong technology focus – online, android app & analytics backed by 6 lac + registered users and 250 + institutional partners. TestFunda’s comprehensive courseware helps students get into IIMs and other top Business Schools, apart from the burgeoning PO, Clerical and other secured Bank jobs.
TestFunda’s reach spans the country with students and institutional partners from Jammu & Kashmir to Chennai and from Gurdaspur to Jorhat. TestFunda, founded by IIT-IIM alumni in 2008 prepares students for CAT, XAT, IIFT, CMAT, NMAT, SNAP where 6 lac + students appear each year for a management career post an MBA from IIMS, XLRI, SP Jain, Symbiosis, and other leading B schools in the country. Since the last couple of years, TestFunda has been making inroads with its comprehensive courseware for IBPS & SBI PO & Clerical for Prelims and Mains and other related government exams where 1 crore+ test-takers take exams each year for secured government jobs.
Earlier this month, Thinkcell acquired the YUKTI brand to kickstart its 8-12 Science division, with the primary focus being the 12th Board exams and Engineering and Medical Entrance exams like JEE, MHT-CET and AIPMT. To facilitate Indian students on taking international entrance and professional licensing exams viz., GRE, GMAT, SAT, ACT, USMLE, NBDE, NCLEX, TOEFL and IELTS Thinkcell has also recently entered into exclusive partnership with KAPLAN for the in-person programs.
“Thinkcell is investing 30 crores over the next 2 years for this diversification including acquisitions and growing the business” added Mr. Goel.
With the acquisition of Testfunda, the company has now been structured into 4 verticals namely GATEFORUM for GATE preparation, YUKTI for preparing students from 8-12 Science division for JEE and Medical Entrance, Logiquest (Kaplan Certified Education Partner) for Education Abroad focusing on GRE, GMAT, SAT, TOEFL & USMLE and Testfunda.com for online MBA & Bank test preparation market.
Aditya Reddy, Director, Thinkcell said “GATEFORUM has been actively looking at diversifying its business in the test preparation sector and we are very pleased to be associated with 4 verticals now. We are proud about these partnerships to make high-quality and cost effective test prep education accessible to all. This collaboration is set to impact and enhance the way students prepare for crucial exams. “
Last year, in August 2014, private equity firm ASK Pravi Capital had acquired majority stake in Thinkcell. Sunay Mathure, Partner, ASK Pravi Capital said “This is in line with our strategy of consolidating the test prep industry by acquiring education companies across different segments that are professionally run, and not really promoter dependent.”