Mumbai headquartered upGrad Education, which runs an eponymous edtech platform, on Tuesday said that it has crossed the milestone of Rs 100 crore a month and achieved an annual revenue run rate (ARR) of Rs 1,200 crore.
The company now targets 25% revenue growth in the next quarter (April-May-June) with profitability in sight, according to a statement.
“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,” Ronnie Screwvala, co-founder and chairman of upGard said.
In 2020, upGrad grew by 100% in revenues and tripled its course offerings with three acquisitions.
upGrad ic currently offering more than 100 courses in collaboration with global universities like Deakin Business School (Australia), Duke CE (US), Michigan State University (US), Liverpool Business School (UK), IIT Madras (India), IIM Kozhikode (India) and others. The company claims to have impacted over 1 million total registered learners over 50 countries across the world.
upGrad has been busy building its global team with several leadership announcements. Last month, it announced the appointment of Sendy Fileman as its country head for Indonesia.
Earlier this year, it had appointed Zubin Gandevia as CEO for the Asia Pacific region. In February, it announced the appointment of an independent UK board of four members to accelerate its expansion in the UK.