Hero Vired introduces first-of-its-kind faculty ESOPs program

Becomes first EdTech company with ESOP program within the first year of launch Hero Vired expects a 20x jump in the valuation of its ESOPs in three years

 

New Delhi: Hero Vired, India’s premium EdTech company, today announced that it is rolling out an exclusive ESOPs program for its full-time faculty members and teaching assistants who have completed six months with the company. The program will automatically extend to new faculty members as they meet the stipulated tenure. As a digital-first company established remotely in April 2021, Hero Vired is the only edtech company to announce its ESOP program within the first year of its launch.

 

At its current growth rate, Hero Vired expects its valuation to increase by 20 times from its current size over the next three to four years, offering a lucrative wealth creation opportunity to its faculty pool. A total of 10 full-time faculties currently have been granted ESOPs worth around 50 lakhs. This is expected to hit a whopping 10 Cr in the next three/ four years. Depending on individual and company performance, the company will grant fresh ESOPs every year. The company is also looking at partial buyback or secondary exit in 3-5 years. Hero Vired is also looking at an IPO in 5-6 years, another first move for the company.

 

The company is hiring aggressively and plans to add 50 professionals to its already growing team of 140+ by March 2022. Currently, Hero Vired’s top performers are rewarded with ESOPs and the company plans to extend this benefit to the larger employee base by bringing them all under the program in the near future. The ESOP pool is to the tune of one lakh options, the overall for all employees being 10% of the cap table.

 

Commenting on the faculty ESOPs program, Akshay Munjal, Founder, and CEO, Hero Vired, said, “We have witnessed phenomenal growth since our launch in April 2021, enabled by our faculty’s collective conviction and contribution. The faculty ESOPs program is our way of thanking our faculty and ensuring wealth creation for them. As a learning company focused on live instructor-led sessions, our teaching staff is the backbone of our business. Our ESOPs program is our dynamic approach to attracting, rewarding, and retaining top talent. The Hero Vired employee stocks will hit 20x valuation in three years, and as we prepare for our IPO in the next 5-6 years, their valuation will rise further”.

 

Hero Vired currently has a total of 66 part time and full-time faculty members for its programs in Full Stack Development, Data Science, Machine Learning & Artificial Intelligence, Finance & Financial Technologies and Gaming. Dipyaman Sanyal, 40 under 40 data scientist of India, is the Head of Academics & Learning, and some of the full-time faculty members include prominent names like Shivakumar Bavamala, Ex Barclay, Founder/Investor, Tamu Tamu, Bishal Neogi, Senior Architect – Data Science & AI Practice, Wipro, Sanjoy Paul, Co-founder myELSA, Gaurav Singh, former Associate Director at Axtria-Ingenious Insights, and Gunnvant Singh Saini, Senior Consultant – Data Science at dōnō consulting, among others.

 

Additionally, the company will also strengthen its team across Learning Excellence (Content, Faculty, and Delivery), Technology, Product, Marketing, Enterprise & Consumer Sales, and People & Culture. Hero Vired plans to hire talent in India and potentially in other countries in 2022. The company offers competitive compensation, esops to top talent, bi-annual appraisal cycles, attractive incentives and rewards for revenue teams, monthly recognition and awards for top performers, and medical and general hospitalization benefits to all employees. Leadership workshops are regularly organized for women employees.

 

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