upGrad records Annual Revenue Run Rate of USD 165 Million

South Asian edtech startup upGrad today announced that it has crossed the milestone of USD 14 Million a month and achieved an Annual Revenue Run rate (ARR) of USD 165 Million. The edtech major now targets 25% revenue growth in the next quarter (April-May-June) with profitability in sight.

upGrad Co-founder & Chairman Ronnie Screwvala said that many have said 2020 was a break-out year for edtech because of COVID but e-learning and higher education will be hitting "its massive inflection point once the pandemic settles down". 

upGrad Co-founder & Chairman Ronnie Screwvala is one of Asia's most successful entrepreneurs
upGrad Co-founder & Chairman Ronnie Screwvala is one of Asia's most successful entrepreneurs. Photo courtesy: edtech

"Most of us are wondering what will 'change' post the pandemic, but at upGrad we are building on what will not change for the next many decades – the future of online and LifeLongLearning. And that allows us to build a global company, at scale," he added.

upGrad offers 100+ courses in collaboration with top-notch global universities through online courses. It ranked first in the LinkedIn Top Startups India list for the third time in a row in 2020 and is also among the GSV Global EdTech 50.

2020 was the year where upGrad grew by 100% in revenues, tripled its course offerings, hit the ball out of the park on global MBAs, scaled university partnerships, put together a crack global team, crossed 1 Million learners across 50+ countries, delivered 10 Million hours of Learning experiences, and closed 3 acquisitions, a press release stated.

"In 2021 and 2022, we will be linking all the dots in LifeLongLearning – from anyone entering college, to all the way to retirement, and everything in between," concluded Screwvala.