Edtech Startup Upgrad Eyes Rs 1,200 Cr Revenue In FY21

Upgrad co-founder and Managing Director Mayank Kumar
Edtech startup Upgrad

The pandemic has turned out to be a huge blessing for edtech platforms, with the majority of edtech platforms have witnessed exponential growth.

Edtech startup Upgrad has reported that its customer base has more than doubled to 1 million since the lockdown.

As per co-founder and Managing Director Mayank Kumar, the number of students has been increasing since April, and company’s revenue run rate has been doubling quarter on quarter and is on course to close the current year with over Rs 1,200 crore revenue.

Mayank Kumar also said over 450 companies have hired around 1,200 Upgrad graduates with an average increment of 46-55% since April.

On the revenue side, Upgrad’s revenue stood at Rs 230 crore in FY20, and it has set a revenue target of Rs 300 crore for the January-March quarter.

If the edtech giant reaches its target, the company will close the year with Rs 1,200 crore revenue.

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