upGrad becomes profitable this quarter; exceeds $300 million in annual revenue


South Asia’s largest and largest upGrad in higher education technology reported earnings boosted by 150% year-over-year revenue growth and stable gross margin of 70%, across all of its revenue streams.

“The fourth quarter performance bodes well for us to stay on track as we hold hands and meet the career needs of the global workforce. We are on track to achieve our goal of 2 billion in gross revenue by 2026,” says Ronnie Screwvala, President and Co-Founder, upGrad.

upGrad is now well positioned as the world’s most integrated higher education technology company – spanning all aspects of lifelong learning, from undergraduate coursework, test prep, on-campus learning, study abroad, short courses, executive programs, degrees and diplomas with its partner universities and up to online doctorates.

“Our obsessions with the results of all our learners, coupled with our world leading results of 85% completion which lead to a high base of referrals, word of mouth and repeat learners from over 50 countries, have in part contributed to our growth. Our focus on profitability only allows us to impact on 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 online repository of theses and case studies worldwide, and a qualified mentor-coaching team of over 300 people that makes the online learning experience results-driven . Base increases for working professionals taking courses through upGrad are 30% and peak at over 250%. A recent audit by one of the Big Four companies shows the highest level of return on investment for upGrad’s online learners.

upGrad, launched in 2015, is a pioneer in the online education revolution, focused on the career success of a global workforce of over 1.3 billion people. It is one of the few integrated lifelong learning technology companies in the world – from college student to working professional in the 18-50 age group and through undergraduate courses , campus and employment-related programs, study abroad, short form to executive programs to diplomas, masters and doctorates – with a learner base of over 2 million in over 100 countries and counting of 300 university partners and a robust company with a customer base of 1000 companies worldwide.

upGrad’s global learning engine is built on four pillars – (a) its extensive repository of original and proprietary content and intellectual property, (b) its own proprietary, best-in-class technology platform, (c) its human-led delivery supported by coaches and mentors, and (d) an 85% course completion record, backed by a guaranteed performance of 80% incremental career outcomes.

Already referred to as Asia’s leading tech company, it has offices in the UK, US, Middle East, India, Singapore and Vietnam, and is present in many other countries.


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