Unacademy Graphy acquires edtech startup Spayee for $25 million

Graphy funding

Unacademy Group-owned Graphy has recently acquired edtech platform Spayee for $25 million. The focus is to increase the reach of the company and optimise the product offerings, the company said in a statement.

After this acquisition, Spayee will operate independently. Sumit Jain, co-founder and chief executive/ officer, Graphy, said, “The creator economy is booming and at Graphy, we are constantly on the lookout for avenues that will help creators grow and achieve their full potential. We share a common ethos with Spayee, recognising the need for an affordable, secured and scalable medium for content creators to build an online education business. And Spayee has built a winning proposition for creators.”

Spayee allows content creators to produce courses in the form of audio and video tutorials, portable document format (PDF) documents, quizzes, live classes, and assignments. Creators can build their own website and mobile apps on Android and iOS. Over 2,000 creators have created and launched platforms using the Spayee.

Also read: Eupheus Learning, an Edtech company, raised $10 million investor funding

“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,” added Jain.

Over 500 active creators are using the Spayee platforms. In fact, Graphy also launched programs like the Creator Grant and Graphy Select Accelerator to monetise their skills.

Earlier, Unacademy raised $440 million from General Atlantic, Tiger Global, and Softbank Vision Fund.

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