BackupGrad crosses USD 210 Mn annual revenue run rate in September
The edtech leader claims to soon be Asia’s largest higher integrated EdTech company.
PremiumMumbai, Maharashtra, India – Business Wire India
upGrad reports another milestone for the year - recording a mid-year growth in its gross revenue to cross USD 210 Million Annual Revenue run Rate (ARR) in September, maintaining the track for its forecasted ARR of USD 500 Million in March 2022.
The edtech leader has chalked an all-encompassing multidimensional growth plan, to sustain its aggressive momentum - full-stack LifeLongLearning for the 18-60 year working professionals; Skill Development via its recent acquisition of KnowledgeHut, Govt Test Prep via upGrad Jeet; its Study Abroad portfolio which has recorded a 300% growth in the last 2 quarters, upGrad for Business - it's enterprise arm for corporates; and on-campus courses. The recent international expansion in APAC, EMEA and US has also kicked in.
“Along with our existing growth plans, our M&A appetite for non-linear growth continues to remain large on a strategic level. One should expect to hear closure on some global deals soon. While the closing quarter has witnessed several business initiatives put to action, the coming two quarters will reap strong results as the overall upGrad brand kicks in," said Mayank Kumar, MD & Co-Founder, upGrad.
upGrad, with a driven team of 3350+ employees, seems to remain steadfast in securing its position as Asia’s largest higher integrated EdTech company and expects to grow much faster than its peers in the education space.
About upGrad
upGrad is a pioneer in the online education revolution, changing the lives of millions for the better by “Powering career success for every member of the global workforce as their trusted LifeLongLearning partner". Co-Founded by one of the world’s most impactful entrepreneurs, Ronnie Screwvala along with Mayank Kumar and Phalgun Kompalli, upGrad has impacted over 2 million total registered learners across ~100 countries.
upGrad, Asia’s higher EdTech leader, uniquely drives deep learning for the real world, by creating original content harnessing industry experts across the globe and offers learners a hyper-personalized, comprehensive one-stop solution, combining the power of its’ proprietary AI-driven technology platform with its army of counsellors who handhold learners for the entire duration of their course.
To provide the best university quality education, upGrad brings together the world’s leading universities, faculty & industry experts on an integrated digital platform, delivering an immersive experience with full flexibility to study at one’s own pace. upGrad’s ever-expanding roster of leading global universities includes Duke Corporate Education (US), Michigan State University (US), University of Arizona (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management (Geneva), IIT Madras (India), IIM Kozhikode (India).
upGrad’s alumni base is employed by blue-chip organizations like Gojek, PayTM, Gartner, Flipkart (Walmart-acquired), Accenture, and E&Y. upGrad is #1, LinkedIn Top Startups India 2020 and is in Top 50 of the FT Asia-Pacific High-Growth Companies 2021 and the GSV Global EdTech 50.
Disclaimer: This content is distributed by Business Wire India. No HT journalist is involved in creation of this content.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
