Edutech startup upGrad has reached a milestone of one million lifelong learners, showing 100 percent growth till December of FY2020. The platform also recorded its highest ever-revenue in a single quarter in Q3FY20.
Till March 2020, upGrad had 500,000 learners and has doubled this number nine months since the fiscal start, The Economic Times reported.
In the first announcement for the year, co-founders Mayank Kumar and Ronnie Screwvala said the platform had been created in 2015 with an aim to cater to 50-100 million working professionals.The company further forecasts “impacting careers of a million youth and working professionals in the next 18 months,” it added.
In line with this, it has set “multi-fold growth targets” including increasing the number of corporates it caters to; increase three-fold its roster of Indian and foreign universities; and take advantage of the online learning environment, New Education Policy (NEP) and University Grants Commissions (UGC) announcements to be “strong enabler” for online degrees.
The company also plans to expand “non-linear growth in allied fields” such as M&A recruitments and test-prep materials.
On the international front it is looking at expanding into the United Kingdom, United States, Middle-East and APAC regions.
“More than 450 companies hired over 1,200 learners from upGrad in 2020, while 46 percent learners received an average salary hike against an industry benchmark of 20-30 percent,” the company said.