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| (L-R) Phalgun Kompalli, Mayank Kumar, and Ronnie Screwvala - Co-founders of upGrad |
upGrad, India’s largest higher edtech, crossed 1 million total registered LifeLongLearners on its platform recently. The milestone announcement came along with the reporting of the Q3 financial result, where upGrad clocked its highest-ever revenue in a single quarter. It has grown 100% in the last 9 months from the start of the financial year.
Till March 2020, the higher edtech leader had 500K learners on its platform and within three quarters it doubled the number to reach 1 million. With this momentum and its growth plans, upGrad forecasts impacting the careers of the next one million youth & working professionals within the next 18 months, and is targeting an INR 2500 crore revenue run-rate for FY’22.
“We set out in 2015 to pioneer and create a market with strong online, deep-learning options for the 50-100 million working professionals in India. Given our present scale and our future growth plans, we are proud of the impact we have made in changing lives and careers. Our one million, going to a two-million mark, are serious learners who are investing their personal capital to achieve their ambitions, and we are with them as their LifeLongLearning partner,” said Ronnie Screwvala and Mayank Kumar, Co-founders in their first announcement of 2021.
upGrad’s initiatives to get to their growth target are multi-fold and involves:
(a) upGrad Enterprises which will expand on a roster of the top companies and their learning & training needs.
(b) Strong enabler to universities, as online degrees set to drop all barriers and give millions of young Indians a chance to pursue their goals online, as well as, from a university of their choice - something not possible till the sweeping changes brought about by the New Education Policy and the announcements supporting that by the University Grants Commission (UGC).
(c) Great line-up of Indian and global universities, whose list will expand threefold in 2021.
(d) Non-linear growth in allied fields of test-prep, recruitment via M&As, with some more to be announced in the first quarter.
(e) International expansion in the APAC, Middle East, UK, & USA - all scheduled to go live in 2021.
Over 450 companies including The Math Company, PayTM, Gartner, NPCI (National Payments Corporation of India), Flipkart, HDFC Life, Naukri, Accenture, E&Y, and Ola hired 1200+ learners from the upGrad talent pool in 2020, with learners receiving an average salary hike of 46%, beating the industry benchmark of 20-30%. The edtech major’s future plans for driving stronger career outcomes for its learners will be well-complemented by Rekrut India, a recruitment firm that it acquired in the last quarter and will be integrated with the brand this year.
Click here to learn more about upGrad: https://www.upgrad.com/?utm_source=PR&utm_medium=BWI&utm_campaign=BPR_ALL_ALL_ALL_PR_BWI_upGradQ3FinancialResults_ALL_All
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