upGrad turns profitable this quarter; surpasses $300M in Annual Revenue Run-rate
South Asia’s largest and Asia’s leading higher edtech majorreported turning-a-profit spurred by a 150 percent growth Y-o-Y in revenues and a stable 70 percent gross margin, across all its income streams.
“The Q4 performance bodes well to stay on track, as we hold the hand and cater to the global workforce’s career needs. We are on track to reach our goal of $2 billion gross revenue by 2026,” says Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
upGrad is now well-positioned as the most integrated higher edtech company in the world - spanning all aspects of lifelong learning from undergrad courses, test prep, on-campus learning, study abroad, short courses, executive programs, degrees, and diplomas with its partner universities and all the way to online Doctorates.
“Our obsessions for outcomes for all our learners, coupled with our global best-in-class 85 percent completion track record that leads to a high referral, word of mouth, and repeat-learner base from over 50+ countries, in part has contributed to our growth. Our focus on profitability only powers us to impact at a much larger scale and make online learning accessible and affordable and with the right cost model anywhere in the world,” said Mayank Kumar, Co-founder and MD, upGrad.
upGrad today has the largest repository of online case theses and studies from around the globe, and a mentor-coach qualified team of over 300 which makes the online learning experience, focused on outcomes. The base-case increments for working professionals taking courses through upGrad are at 30 percent and peak at over 250 percent. A recent audit done by one of the Big Four firms shows the highest level of ROI for upGrad’s online learners.
upGrad, started in 2015, is a pioneer in the online education revolution, focused on powering career success for a global workforce of over 1.3 billion. It is one of the few integrated LifeLongLearning tech companies in the world - spanning the college learner to the working professional from the age group of 18-50 years and across Undergrad courses, Campus and Job Linked Programs, Studying Abroad, short form to executive programs to Degrees, Masters and Doctoral - with a learner base of over 2 million across 100+ countries and over 300 University partners and a robust enterprise business with a client base of 1000 companies worldwide.
upGrad’s Global Learning Engine rests on four pillars - (a) its large repository of original & owned content and IP, (b) its own best-in-class proprietary tech platform, (c) its high touch human-led delivery service backed by coaches & mentors, and (d) an 85% course completion track record, backed by a further 80% career outcomes guaranteed performance.
Already termed Asia’s higher edtech leader, it has offices in the UK, US, Middle East, India, Singapore & Vietnam, and with a presence in many more countries.