upGrad reports another milestone for the year – recording a mid-year growth in its gross revenue to cross USD 210 Million Annual Revenue run Rate (ARR) in September, maintaining the track for its forecasted ARR of USD 500 Million in March 2022.
The edtech leader has chalked an all-encompassing multidimensional growth plan, to sustain its aggressive momentum – full-stack LifeLongLearning for the 18-60 year working professionals; Skill Development via its recent acquisition of KnowledgeHut; Govt Test Prep via upGrad Jeet; its Study Abroad portfolio which has recorded a 300% growth in the last 2 quarters; upGrad for Business – it’s enterprise arm for corporates; and on-campus courses. The recent international expansion in APAC, EMEA and US has also kicked in.
“Along with our existing growth plans, our M&A appetite for non-linear growth continues to remain large on a strategic level. One should expect to hear closure on some global deals soon. While the closing quarter has witnessed several business initiatives put to action, the coming two quarters will reap strong results as the overall upGrad brand kicks in” said Mayank Kumar, MD & Co-Founder, upGrad.
upGrad, with a driven team of 3350+ employees, seems to remain steadfast in securing its position as Asia’s largest higher integrated EdTech company and expects to grow much faster than its peers in the education space.