Taxation

The Famous Ed -Tech Startup UpGrad Has Raised $ 120 Millions Funding

By Mahenoor Khan    -   April 7, 2023

DATE OF ANNOUNCEMENT: 29 March 2023

COMPANY'S LEGAL :Upgrad Education Private Limited

  • FOUNDERS

upGrad was founded in 2015 by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli with a view to impact the lives of working professionals by helping them upskill while they work

FUNDING TILL DATE: $555 Mn USD

TYPES OF FUNDING:Series C 

VALUATION : Not disclosed

INVESTORS:  

The Upgrade has 10 investors  and it’s recent investors includes Temasek and Ronnie Screwvala.

  • COMPANY BUSINESS:
  • upGrad offers education programs in Data Science, Software and Technology, Management, Law, and other categories where upskilling is both critical and rewarding
  • Each of these programs that upGrad offers is in collaboration with one of the world’s top universities such as IIT Madras, Duke CE, Deakin University, Liverpool John Moores University, etc.
  • For example, you can signup with upGrad for an MBA from Golden Gate University or Deakin Business School, or a globally recognised Master's in Data Science from Liverpool John Moores University.
  • The high standards set by upGrad and their partner universities reflect in the results. upGrad Results reviewed by Deloitte show that 5 out of 6 learners get positive career growth. upGrad students get an average of 52% salary hike after completing their MBA programs.
  • This edtech giant was on an acquisition spree, picking up Work Better, Exampur, International School of Engineering (INSOFE), and Harappa Education, among others, during the year.
  • The company operates out of 31 offices across India, the United States, the United Kingdom, Singapore, Vietnam and West Asia, runs on skilling, short-certification courses, bootcamps and job-linked programmes, as well as study-abroad businesses across its acquired and main subsidiaries.
  • With over 300 direct global university partners, over 20,000 recruitment partners, and a clientele of 3,000 corporate partners, upGrad claims to have provided learning to over 7 million candidates in more than 100 countries.

 

  • COMMENTS ON LATEST FUNDING:

COMPANY'S VIEW:  

A Official from upGrad said on recent funding , “Yes, we confirm the internal round. The company is focused on its organic and in-organic growth across multiple verticals of formal education via degree, diploma and doctorate courses in partnership with the best universities in India and globally.”

 

INVESTORS VIEW:

No Comments

PURPOSE OF FUNDING :The latest funding will be used to to expand into new categories and plans to launch new courses

COMPETITORS:

Its competitors include Udemy Business, LinkedIn Learning, Udacity and Pluralsight Skills

Source:

Economics times, crunchbase, Inc

 

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