Educational holding Ultimate Education raised 565 million rubles before IPO

“The Russian EdTech market continues to show constant growth and the entry of EdTech companies on the stock market in the coming years seems very likely,” the acting director emphasized. Head of Alfa Investments Andrey Nedbaylo.

The Ultimate Education holding was founded by the Ultimate Capital fund in 2020. It includes online schools Moscow Digital School, Fashion Factory, Bang Bang Education, MAED Academy and others.

According to Rusprofile, the company’s revenue in 2023 amounted to 15 million rubles, 160% more than in 2022, the net loss was 79.15 million rubles. The company’s turnover in 2023 amounted to 2.4 billion rubles, 59% more than in 2022, and EBITDA reached 348 million rubles.

In October, credit rating agency ACRA gave the holding company’s management company, Ultimate Education LLC, a BBB or “positive” rating. The company, according to the agency, “has a very strong business profile and very high geographic diversification due to the online education of students.”

In October, Kommersant wrote about the holding company’s plans to go public in the next two to three years amid increased private equity attention to the EdTech segment. Experts interviewed by the newspaper valued the company at 2 to 2.5 billion rubles.

The pre-IPO is the stage of entry into the stock market that precedes the initial public offering of shares. Non-qualified investors can purchase pre-IPO securities worth up to 600 thousand rubles; For qualified investors there are no such restrictions.