GSV Ventures-backed BrightCHAMPS acquires K12 education marketplace Edjust
BrightCHAMPS said that the acquisition aims to enforce stricter customer acquisition standards, with Edjust’s founders planning to refine the sales model and expand parent networks across the 30 geographies the company operates.
GSV Ventures-backed edtech platform, BrightCHAMPS, has acquired K12 education marketplace, Edjust, in an undisclosed cash and stock deal, to fuel its international growth.
Edjust, founded in 2022 by edtech sales professionals Dushyant Panchal, Anmol Mittal, and Sanjay Panikar, uses artificial intelligence, human emotional intelligence, and data-driven contact centres to reach parents with a strong interest in edtech products. It has established networks of parents in the US and UK.
BrightCHAMPS said that the acquisition aims to enforce stricter customer acquisition standards, with Edjust’s founders planning to refine the sales model and expand parent networks across the 30 geographies the company operates.
By incorporating customised augmented reality, virtual reality, and extended reality interactive experiences, potential students and their parents will gain a 360-degree view of their learning journey if they choose to enrol in the courses, BrightCHAMPS noted.
“This acquisition is a particularly exciting milestone because it is a clear financial indicator of our priorities and our strategy for growing the company in a sustainable manner," Ravi Bhushan, Founder and CEO of BrightCHAMPS, said in a statement.
“It is our view that high customer satisfaction and net promoter scores are critical to the long-term success of a product like edtech with far-reaching impact spanning decades in its customer’s life,” he added.
Beyond refining the model, Edjust’s founders will lead efforts to establish a new distribution channel, focused on delivering learning in academic subjects like Maths, Science, and English for students' overall success and future readiness.
“On a company level, Anmol, Sanjay, and I are thrilled to play a part in making BrightCHAMPS the definitive one-stop educational solutions provider for students across the globe, in languages they are most comfortable in,” Dushyant Panchal, Co-founder and CEO of Edjust, noted.
BrightCHAMPS offers online, offline, and hybrid STEM-accredited classes in subjects like coding, robotics, AI, financial literacy, entrepreneurship, communications, and Vedic maths across more than 30 countries.
Launched in 2020, BrightCHAMPS has raised $63 million from investors including US-based GSV Ventures, Singapore's BEENEXT, Premji Invest, and Binny Bansal-backed 021 Capital from India.
The Edjust deal marks BrightCHAMPS’ fourth acquisition.
In April 2023, BrightCHAMPS acquired ISB-incubated Metamorphosis Edu in an undisclosed cash-and-stock deal. In August 2022, it acquired Singapore-headquartered Schola, a live-learning platform for children for learning communication skills and English, in a $15-million cash and stock deal. Prior to that BrightCHAMPS had acquired financial literacy edtech startup Education10x, which is also based out of Singapore.
Industry experts had told YourStory that as companies face the challenge of finding the right business model amid tighter investor funding, not all will have the financial resources to endure, leading to mergers, acquisitions, and consolidations.
