Graphy, an Unacademy Group business, on Monday acquired edtech software-as-a-service (SaaS) platform Spayee for $25 million. Established in 2014, Spayee allows content creators to design customised courses in the form of audio and video tutorials, PDF documents, questionings, assignments and live sessions.
On the other hand, Graphy was designed as a platform for educational content producers to grow their audience, monetise their abilities, and host live cohort-based programs.
Graphy told the acquisition is sighted at growing its leadership state in the creator economy.
“Spayee has built a winning proposition for creators. We are confident that having them as part of the Unacademy group will help us explore common synergies and build the world’s largest creator community,” stated Sumit Jain, co-founder and CEO, Graphy.
Graphy helps creators start their own online school in just 60 seconds and has over 500 participating and active creators.
Post the acquisition, Spayee will remain to operate freely. Currently, over 2,000 creators and businesses have started their platforms using Spayee. Bengaluru-based ed-tech platform Unacademy was established by Munjal, Saini, Hemesh Singh, and Sachin Gupta in 2016.
In August, Unacademy secured a Series H round of $440 million at a valuation of $3.44 billion.
Unacademy, at current, has over 50,000 registered educators and more than 62 million students. The startup allows learnings in 14 languages in over 5,000 cities.
Founded by Gaurav Munjal, Roman Saini, and Hemesh Singh, Unacademy was a simple Youtube channel in 2010. After getting a good response from Youtube users, the Unacademy channel began its journey as an edtech firm in 2015.
Within two years of its startup journey, Unacademy becomes India’s largest online learning platform with over 1 million learners and 40,000 live classes. In 2020, Unacademy further strengthened its operations by acquiring edtech startups like Kreatryx, PrepLadder, and Codechef. The startup also launched the Graphy app to bring creators online for selling their digital goods.
