By Ron Chen, Correspondent ASEAN Region
Global edtech company upGrad in its recently held company meeting announced that it aims to close March’22 at half a Billion Dollar Revenue Run Rate.
Highlighting the future of online higher education, Ronnie Screwvala, Co-founder, and Chairman firmly believes Higher Edtech is the frontrunner in the overall Education space. “There is just a lot of buzz, and fund ‘fan’ following in the K12 space worldwide, but the real growth and stable revenues will come from Higher Education when the pandemic settles – in the next couple of years, Higher edtech sector will overtake K12 in emerging and mature markets too.”
upGrad today has the largest repository (and growing) of Online Case Thesis and Studies globally.
“upGrad is now best-placed being the most integrated Higher Edtech company – spanning all aspects of LifeLongLearning – from Under-Grads to Test Preps to being the first port of call for colleges/universities to go digital through tech & SaaS enablement, to offering Degrees in the most sought fields for learners to build their careers of tomorrow. And, then for those in the workforce already, upGrad has right from short-term high impact courses to brand new initiatives like Study Abroad, to the deep learning certification, diplomas, and degree courses for working professionals around the world,” Ronnie further added.
In the last 9 months and the coming 6 months upGrad’s TAM (Total Addressable Market) will cross US$ 100 Billion, 65 per cent of which (US$ 65 Billion) comprises the Global working professionals.
Championing the team to build on its twofold moat of (a) being a fully integrated & true LifeLongLearning partner and (b) delivering the best career outcomes to ensure learner get ROI on money invested to upgrade, Ronnie explains how upGrad will close this financial year with Half a Billion US Dollar ARR.
“By March’22 – the working professional segment will continue its annual growth rate of 100 per cent. International markets will launch & contribute another 50 per cent. US is a focus area and should on a stand-alone basis be a US$60-90 Million ARR business. Our four strategic M&As will further accelerate growth in their own segments. Our recently launched Study Abroad and Degree programmes will establish clear leadership in their fields.”
