Great Learning books revenue of Rs. 325 crores in FY20
New Delhi: Great Learning, India’s leading ed-tech company in the professional education space, has concluded its financial year FY20 with booked revenue of Rs. 325 crores; a growth of close to 150% from FY19. This growth has been achieved on the back of increasing demand for upskilling in digital competencies like Data Science, Analytics, AI, Machine Learning, Cloud Computing, Cybersecurity and Digital Business. Despite this growth, Great Learning has maintained its relentless focus on high quality, and learner satisfaction rates remain at over 90% across 25 million hours of cumulative learning delivered – a benchmark that is among the best in the world in education.
Continuing its strong growth trajectory, it has started FY21 with a 5x growth in the learner base on its platform, due to increased interest in learning from professionals and college graduates who had to stay at home due to the COVID lockdowns.
The growth in FY20 was boosted by Great Learning’s best-in-class outcome metrics – >90% course completion rate, and 2 out of every 3 learners seeing a career transition within 6 months of program completion with an average salary hike of 45%. The company crossed 25,000 learners across its post graduate programs in FY20. Its programs flourished in global markets as well, with learners from over 85 countries enrolling into its programs.
In March 2020, amidst the Covid-19 lockdown, Great Learning launched several initiatives to encourage professionals and college students to grow professionally. It launched Great Learning Academy, a free online resource that offers over 100 industry relevant courses with 1000+ hours of high-quality learning content focused on skills like Analytics, Programming, Data Science, AI, ML, Cloud Computing, Cybersecurity, Digital Marketing and Business Finance. In addition to watching course videos offline they can practice quizzes before going through a final evaluation and earning their completion certificate. Learners can also download the Great Learning mobile app and learn on their smartphones, anytime, anywhere.
Over 4 lakh learners have already benefitted from the Great Learning Academy including employees from 700 leading global and Indian MNCs and PSUs as well as students from over 1000 universities and colleges. The company will use the platform to make high quality education accessible to millions of Indians and at the same time to encourage professional upskilling at an unprecedented scale.
Mohan Lakhamraju, Founder and CEO, Great Learning said, “We have seen significant growth over the last year with professionals increasingly warming to the idea of continuous and lifelong learning. However, the way the market has opened for us over the last few months is unprecedented. From working professionals to college students and even senior executives, we are witnessing a desire to keep pace with changing business and technology landscapes by upskilling themselves. It is such a privilege to see so many people achieve their dreams by learning diligently through Great Learning. We expect FY21 to be a turning point for online higher education in India, accelerating us towards the realisation of our vision where everyone can transform their lives and careers through high quality learning.”