/ – Target more than INR 250 crore of income in fiscal year 20
Strengthens the management team with new key appointments
upGrad saw a 113% increase in gross revenue from INR 57 crore in FY18 to INR 121 crore in FY19. Strong financial data helped upGrad consolidate its position as more large online higher education company in the country, based on the gross income generated from the Indian market in just 3 years of its operations.
With a learner base of over 300,000, upGrad has seen strong uptake of its training courses by working professionals as well as businesses. The company expects to exceed gross revenue by INR 250 crore in FY20, with a significant contribution from its university activities, which are expected to grow 15 times.
Currently, upGrad has more than 400 employees and plans to add more than 100 employees in fiscal year 20. The company has strengthened its management team with the aim of capitalizing on potential opportunities in the education sector by line. With over 16 years of experience in corporate and retail banking, consumer internet / e-commerce and fintech, Abhishek Arora joined upGrad as Commercial Director – Consumer Business. The company has also recruited Kushal Dev Kashyap of Byju’s to lead direct sales and with 18 years of experience Tanya Ahluwalia joins as vice president – brand marketing. Rahul Karthikeyan, who was previously at Wavemaker, has joined as head of digital marketing.
In FY19, upGrad took several steps to democratize education and skills development in India:
Consolidated its position as a leading company in the online learning space with the hiring of the Acadview team. introduce a comprehensive graduate program in life insurance, with 100% employment guarantee upon successful completion of the course. The upGrad co-founders said: “Lifelong learning, which can have a tangible career impact, is the new mantra and need of the moment for all working professionals; online education provides these professionals with a platform to improve their skills at their convenience. Over the past two years, upGrad has grown by over 100% each year, further establishing the reach and opportunity for digital learning. g in India. upGrad has developed a holistic digital education experience for working professionals and students to develop and retrain. We will continue this growth dynamic and are particularly excited about the potential of the college segment. “
upGrad expanded its communications reach with marketing spend of over INR 100 crore to launch a marketing campaign and chose Vicky Kaushal as a brand ambassador.
Since its inception, upGrad has introduced 35 programs in the fields of data science, technology and management and has a paid learner base of 13K. UpGrad learners saw their salaries increase by approximately 46% after the end of the programs. It has partnered with leading academic institutes such as BITS Pilani, IIIT-Bangalore, Cambridge Judge Business School of Executive Education and MICA to develop content for its courses. The company has collaborations with some of the best in the industry like Google, Flipkart, Gramener, OYO to create a cohesive and hands-on learning experience.
upGrad was founded in early 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli and Ravijot Chugh, with the aim of empowering individuals to reach their full professional potential by providing formal educational programs.
The company offers programs in the fields of data science, technology and management to students and professionals. These programs are designed and delivered in collaboration with leading universities such as IIIT-B, BITS Pilani, MICA, Cambridge Judge Business School Executive Education and others. To further enhance the learning experience, a comprehensive ecosystem has been built that includes one-on-one mentoring, peer-to-peer learning, industry networking and, most importantly, expert career guidance, to provide learners with holistic support for take their careers to the next level.
upGrad has propelled more than 3 lakh careers since its inception. The company received the “Best Technology for Education” award from IAMAI in 2019. The company received the “Best Education Brands” award by Economic Times and was named one of LinkedIn’s “25 Best Startups” in 2018.
(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)