A senior company executive told ET that the deal will enable it to strengthen its data science, artificial intelligence and machine learning capabilities.
The acquisition, the third in the last 12 months, comes two months after raising $55 million in Series B funding from investors led by LightRock India.
Last year, it acquired Coding Minutes and Coding Elements.
Launched in April 2019 by Anshuman Singh and Abhimanyu Saxena, Scalar’s parent entity InterviewBit commands a post-money valuation of $710 million, as previously reported by ET.
“This acquisition will help us grow rapidly in the AI and ML space,” Saxena told ET. “We have a long runway and the capital raised will try to take the business further through organic and inorganic routes.”
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Applied Roots was bootstrapped by Srikanth Varma Chekuri, Murali Krishna Warri, Naveen Reddy Bade, Brahma Reddy, Srinivas Reddy and Sathish Atcha.
It offers an online diploma course in AI and ML.
The platform also provides GATE CS preparation and applied coding tracks to technical professionals. The company said its team has served more than 40,000 learners over the past four years. The entire team, along with its founders, has joined Scalar.
“Our immediate goal will be to support the efforts and projects being undertaken in the Data Science & ML team. We will also include a separate Data Analyst sub track within the Data Science program,” said Chekuri, co-founder of AppliedRoots.
Sklar has raised about $76 million to date. It would like to acquire more companies this year. “We are open to smaller acquisitions, where we are looking at large scale for access to talent, distribution or geography,” Saxena said.
Scalar is currently looking at an annual revenue run rate (ARR) of $60 million.
“We expect to reach an ARR of $150 million by the end of FY13,” Saxena said.
The company is looking to expand its presence in software development programs for beginners and data analytics/engineering.
“Our business is cash flow positive and profitable and therefore we are not worried about the runway of the company as we have cash. “We are not looking to raise a fresh round of capital immediately,” Saxena said.
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