Graphy, an Unacademy Group company, on Monday the acquisition of edtech software-as-a-service (SaaS) platform Spayee for $25 million.
Founded in 2014, Spayee allows content creators to produce customised courses in the form of audio and video tutorials, PDF documents, quizzes, assignments and live classes.
On the other hand, Graphy was created as a platform for educational content creators to grow their audience, monetise their skills, and host live cohort-based courses.
Graphy said the acquisition is aimed at strengthening its leadership position in the creator economy. Sumit Jain, co-founder and CEO, Graphy, said:
“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.”
Graphy helps creators launch their own online school in under 60 seconds and has over 500 active creators.
Spayee will continue to operate independently. Currently over 2,000 creators and businesses have launched their platforms using Spayee.
In August, Unacademy closed a Series H round of $440 million at a valuation of $3.44 billion.