CIEL Group acquires strategic stake in Courseplay, plans IPO in FY25

Mar 05 2024: HR solutions provider CIEL Group said on Tuesday it is expanding beyond India by acquiring a strategic stake in Courseplay, a Mumbai-based international learning experience platform.

CIEL plans to go public in the Financial Year 2025 (FY25) and the acquisition (the value of which was not revealed) will help it become a technology-led human resources solutions provider. Courseplay helps organizations to develop their employees’ skills and is a market leader in diverse sectors, said CIEL. It integrates on-the-job, social, and formal learning and is trusted by leading enterprises and startups. CIEL plans to strengthen its human resources technology by integrating Courseplay’s platforms like ProSculpt, HfactoR, Jombay and CielJobs.

“We are happy to welcome Courseplay into CIEL’s family. The acquisition is a pivotal step in our journey towards emerging as one of the most respected tech-led human resources solution providers in the world. With our sights set on an initial public offering in the Financial Year 2025, this strategic move reinforces our dedication to driving growth and innovation in the human resources space. Together with Courseplay’s artificial intelligence-powered platform, we are poised to transform the employee learning experience and elevate our position as the top player in the industry,” said K Pandiarajan, executive chairperson of CIEL Group.

CIEL said its human resources technology revenues increased by 64 percent in quarter three of FY25. “As we continue to focus on human resources technology and drive growth in this dynamic sector, the acquisition of Courseplay marks a significant milestone for CIEL. As the technology landscape is constantly evolving, so are the skills in demand. CIEL sees this as an opportunity to transform the talent landscape by facilitating upskilling across the globe,” said Aditya Narayan Mishra, managing director and chief executive officer (CEO) of CIEL HR Services.

Employees tend to stay longer in a company that fosters a culture of innovation and the use of cutting-edge technology. Other top factors valued highly include opportunities to upskill, access to high-end training and ample career development, according to a survey by the Mumbai-based Courseplay, an international learning experience platform of the CIEL HR Group.

Arjun Gupta, founder and CEO of Courseplay, said: “Today marks a momentous occasion for Courseplay. Since our founding, we have been dedicated to revolutionizing the learning and development industry, and I am incredibly proud to announce that Courseplay is being acquired by CIEL. This is a natural next step in our journey, one that will allow us to amplify our impact on a global scale.”

Read more at: Business Standard

Additional Links: The Hindu Business Line, YOURSTORY, Times of India