May 13, 2019

Edtech Startup UpGrad Posts 113% Jump In Gross Revenue In FY19

upGrad, an online education venture, has reported a 113% rise in its gross revenue to Rs 121 crore in FY19 as compared to Rs 57 crore in FY18.

 

With the aqui-hire of Acadview’s team during FY19, upGrad consolidated its position as a leading company in the online learning space. The edtech startup widened its communication reach with marketing spends of more than Rs 100 crore to introduce a marketing campaign. It has also roped in actor Vicky Kaushal as the brand ambassador.

 

upGrad expects to cross Rs 250 crore gross revenue in FY20, with a significant contribution from its college business, which is expected to grow 15 times.

 

The platform was started in early 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli and Ravijot Chugh. It has launched total of 35 programmes in areas like data science, technology and management, and has a paid learner base of 13,000.

 

In a bid to develop its course content, upGrad has partnered with academic institutes such as BITS Pilani, IIIT-Bangalore, Cambridge Judge Business School of Executive Education and MICA. It further has collaborations with companies including Google, Flipkart, Gramener and Oyo for the practical learning experience.

 

Ronnie Screwvala and Mayank Kumar, Co-Founders, upGrad, said, “Over the last two years upGrad has grown over 100 percent every year, which further establishes the scope and opportunity for digital learning in India. upGrad has developed a holistic digital education experience for working professionals and college students for upskilling and reskilling. We will continue this growth momentum and are particularly excited with the potential in the college segment.”

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