Edtech platform BrightCHAMPS has acquired Singapore-headquartered Schola, a live-learning platform for children for learning communication skills and English, in a $15-million cash and stock deal.
With this acquisition, BrightCHAMPS aims to become the one-stop destination for all next-gen life skills for children in the K-12 segment. The acquisition is in line with Brightchamps’ plan to acquire startups in the edtech space.
The new acquisition will help Brightchamps launch English-speaking and communications verticals, scaling it faster in its key markets such as Southeast Asian countries, including Vietnam, Thailand, and Indonesia.
Schola offers a variety of courses through a live, one-on-one class model for children aged 4 years to 15 years to build capabilities such as communications, public speaking, leadership presentation, and confidence-building. The firm currently offers classes to students from 12 countries, including Vietnam, Thailand, Korea, Japan, Malaysia, and others.
Ravi Bhushan, Founder and CEO, BrightCHAMPS, said, “The ability to communicate confidently, coherently, and creatively is a crucial life skill for kids and a prerequisite for success as an adult, and we’re excited to have the exceptionally talented Team Schola lead this charge with BrightCHAMPS. Given Schola’s profitability and sustainable growth approach with low cash-burn, we already know that there is great synergy between the two companies’ operating models.”