upGrad records an Annual Revenue Run Rate of INR 1200 Crore; Clocks INR 100 Crore monthly revenue in March
Mumbai: upGrad, South Asia’s largest higher edtech, today announced that it has crossed the milestone of INR 100 Crore a month and achieved an Annual Revenue Run rate (ARR) of INR 1200 Crore. The edtech major now targets 25% revenue growth in the next quarter (April-May-June) with profitability in sight.
Ronnie Screwvala said, “It’s been a tough Covid year. I know many have said 2020 was a break-out year for EdTech, but on the contrary, I can clearly see Higher Education hitting its massive inflection point once the pandemic settles down. Most of us are wondering what will ‘change’ post the pandemic, but at upGrad we are building on what will not change for the next many decades – the future of Online and LifeLongLearning. And, that allows us to build a global company, at scale, out of India for the world.”
2020 was a year where upGrad grew by 100% in revenues, tripled its course offerings, hit the ball out of the park on global MBAs, scaled university partnerships, put together a crack India & global team, crossed 1 Million learners across 50+ countries, delivered 10 Million hours of Learning experiences, and closed 3 acquisitions.
“For us to get to our USD 2 Billion Revenue goal by 2026, we are well placed in all our building blocks. In 2021 & 2022, we will be linking all the dots in LifeLongLearning – from anyone entering college, to all the way to retirement, and everything in between. The consolidation of our international expansion and strategic acquisitions will further fuel non-linear revenue growth in 2021. upGrad’s differentiator of deep learning, record 85% course completion ratio, along with meeting career goals of learners, will keep us a market leader and a partner of choice for our learners and academia alliances around the world,” concluded Screwvala, Co-founder & Chairman, upGrad.