upGrad Aims to Close March 2022 at Half a Billion-Dollar Revenue Run Rate
The edtech leader stakes claim to being the ‘Most Integrated Higher EdTech Company in the World’; Looks to raise USD 400 Million at a USD 4 Billion valuation in the second half of the year
MUMBAI, INDIA--(Business Wire / Korea Newswire) June 08, 2021 -- upGrad, South Asia’s largest online higher education company, in its recently held company meeting announced that it aims to close March’22 at half a Billion Dollar Revenue Run Rate.
Highlighting the future of online higher education, Ronnie Screwvala, Co-founder, and Chairman firmly believes Higher Edtech is the frontrunner in the overall Education space. “There is just a lot of buzz, and fund ‘fan’ following in the K12 space worldwide, but the real growth and stable revenues will come from Higher Education when the pandemic settles - in the next couple of years, Higher edtech sector will overtake K12 in emerging and mature markets too.”
“upGrad is now best-placed, being the most integrated Higher Edtech company - spanning all aspects of LifeLongLearning - from under-grads to test prep to being the first port of call for colleges/universities to go digital through technology & SaaS enablement, to offering degrees in the most sought-after fields for learners to build their careers of tomorrow. And, then for those in the workforce already, upGrad has right from short-term high impact courses to brand new initiatives like Study Abroad program, to the deep learning certifications, diplomas, and degree courses for working professionals around the world,” Ronnie further added.
upGrad today has the largest repository (and growing) of online case thesis and studies across the globe. In the last 9 months and the coming 6 months upGrad’s TAM (Total Addressable Market) will cross USD 100 Billion. USD 8-10 Billion is the Indian degrees and working professionals’ market; USD 5 Billion covers the test prep and others in India; USD 65 Billion comprises the Global working professionals and lastly, USD 20 Billion covers the short-form courses around the globe.
Championing the team to build on its twofold moat of (a) being and fully integrated & true LifeLongLearning partner; and (b) delivering the best career outcomes to ensure learners get ROI on money invested to upgrade, Ronnie explains how upGrad will close this financial year with half a billion US Dollar ARR.
“By March 2022, the working professional segment will continue its annual growth rate of 100% and the international markets will launch and contribute another 50%. The U.S. is a focus area and should on a standalone basis be a USD 60-90 Million ARR business. Our four strategic M&As will further accelerate growth in their own segments. In addition, our recently launched Study Abroad and Degree programs will establish clear leadership in their fields.”
Visit upGrad website to learn more about the edtech leader and its online courses: https://bit.ly/3cnVcR0
upGrad is a global online higher education leader offering 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the edtech major has impacted over 1 million total registered learners over 50+ countries across the world.
upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 in 2020 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210531005285/en/
Asst. Manager – PR
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