What makes data science a promising vertical for Scaler Academy?
In an exclusive interaction with YourStory’s Daily Dispatch, Abhimanyu Saxena, Co-founder of Scaler Academy and InterviewBit, talks about the recent acquisition of Coding Elements, and growth projections for the company.
Edtech startup Scaler Academy’s acquisition of Coding Elements, an online coding platform, is a step in the direction towards building its data science vertical. Coding Elements was acquired in an all-cash deal of about $1 million.
Commenting on the acquisition of Coding Elements, Abhimanyu Saxena, Co-founder of Scaler Academy and InterviewBit, says that the team is the important element for mergers and acquisitions. He says that Coding Elements founder Mudit Goel has vast experience in data science and should be able to fuel this vertical for Scaler Academy.
“Currently, there is a war for talent, not just in India but globally as well. When there is a war going on, we are in the business of producing weaponry which is the software engineers or the data scientists,” says Abhimanyu on the growing competition between technology players and the need for upskilling.
While there have been many data science courses, Abhimanyu draws attention to the pain point of being unable to find data scientists who have hands-on experience as their courses are limited to theoretical aspects. Scaler Academy aims to address this concern and build a course that can equip learners with practical exposure to data science.
The potential in data science was tapped a decade ago and it has now become one of the most flourishing technology careers. A report titled ‘The Future of Jobs 2020’ published by the World Economic Forum says that the pace of technology adoption is expected to remain unabated and may accelerate in some areas. The adoption of cloud computing, big data and ecommerce remain high priorities for business leaders, following the trend established in previous years.
The report also mentions that by 2025, the time spent by humans on current tasks at work and machines will be equal. This is indicative that the budding fields of data science and coding finding will get more prominent in the near future.
Abhimanyu Saxena, Co-founder of InterviewBit and Scaler
Scaler Academy recently introduced a data science and machine learning course for engineers that was built based on insights provided by data scientists leading tech firms across global.
The Bengaluru-based startup is set to reach $50 million annual recurring revenue (ARR) by December 2021. It is projected to hit $100 million ARR by 2022 while it is claimed to be experiencing a month-on-month growth of 20 percent.
“We plan to launch internationally as well early next year. We already have a team in place that is doing the groundwork,” says Abhimanyu. He adds that the company is expecting their international business to be even bigger than the Indian business.
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Edited by Kanishk Singh