industry

Edtech firms chalk out aggressive expansion plans amid revenue, signups boost


Pumped up with new confidence from strong revenue and user-base growth in the past four months, edtech firms are busy chalking out aggressive expansion and hiring plans.

Upgrad and Toppr are looking at doubling their headcount by the end of this fiscal year from 1,000 and 1,500 respectively. Simplilearn and Vedantu will together be adding more than 2,000 employees in the next eight months as per their current plans.

These companies have seen their revenue and user base grow as much as 80% since the country went into a lockdown in late March. With no clarity yet on the reopening of educational institutions, students as well as working professionals are increasingly signing up for online coaching.

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With schools remaining shut, parents are also purchasing onlin courses for their children to keep them occupied at home, boosting the business of these companies and encouraging them to expand.

Hiring is taking place across all levels, including in leadership roles and in domains like sales, technology and engineering.

“Employment is on a massive growth trajectory to cope with the ongoing demand,” Upgrad cofounder Mayank Kumar said.

In the last couple of months, Upgrad has added four people to its senior leadership team. They are president – products Rohit Dhar, vice-president – business Deepak H Singkha, president – technology Puneet Tanwar and chief executive – India Arjun Mohan.

“This is the right time to invest in senior talent which will in turn help us to get ready for the new normal of workplace and learner dynamics,” Kumar said.

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Vedantu has seen an increase in revenue and user base which has been the highest over these last four months in comparison to any four-month period in the previous years, CEO Vamsi Krishna said.

Since the lockdown was eased, Vedantu’s revenue has grown 80%. The company is ramping up backend and technology teams and has plans to hire 1,500 employees across all levels in domains like technology, product, finance, strategy and HR. It currentl employs more than 5,000.

Upgrad is targeting a fourfold increase in revenue to cross Rs 1,200 crore by the end of this fiscal year and is planning to enter cities like Kanpur, Dehradun, Ludhiana, Rohtak and Surat.

Zishaan Hayath, the founder of Toppr, said the company would have requirements from senior leadership to entry level positions. It is currently looking to fill leadership positions in verticals including customer support, sales, engineering, marketing and product.

The company is launching adaptive products that cater to inschool and after-school learning of students, and is looking to build teams to lead the sales and service of these areas. “Post the lockdown, the edtech sector witnessed an exciting spike in the growth curve, and we as a company saw 100% growth in the past few months,” Simplilearn founder CEO Krishna Kumar said.

Simplilearn has more than 1,000 employees and is planning to hire 300-500 more this year across tech, product, sales, operations, marketing and finance roles.

There have been no pay cuts in companies like Simplilearn, Vedantu and Toppr, while Upgrad has revoked the salary cuts that were initiated earlier and is reversing 100% of the deducted salaries to all employees, along with the July salary.

(This story is part of a series of articles in association with Facebook. Facebook has no editorial role in this story)





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