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UpGrad is one of India’s leading online education platforms, offering industry-relevant programs in collaboration with top global universities. Founded in 2015, UpGrad has redefined how professionals and students access higher education, focusing on employability and outcome-driven learning. Its flagship programs span technology, management, and data science. The company continues to expand its reach in international markets while growing its ecosystem through acquisitions and partnerships. UpGrad was co-founded by Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, who have been instrumental in shaping India’s edtech landscape.
| Founding Year | 2015 |
|---|---|
| Headquarters | Mumbai, Maharashtra |
| Valuation | Undisclosed |
| Total Funding | $600M+ |
| Users | 2M+ |
| Employees | 5000+ |
| Revenue FY23 | $150M+ |
| Net Profit (PAT) | -$45M |
| EBITDA Margin | -20% |
| ROCE | -12% |
UpGrad has demonstrated consistent revenue growth over the past three fiscal years, reaching $150M in FY23. However, losses have widened with PAT falling to -$45M. This suggests aggressive growth and marketing investments as it scales globally.
While EBITDA margins remain negative, UpGrad has made marginal improvements in expense-to-revenue ratio, indicating better cost control mechanisms. Continued focus on profitability could reflect in margin improvements going forward.
UpGrad has steadily increased its workforce from 3,000 in FY21 to over 5,000 in FY23. This workforce growth is aligned with its expanding product portfolio and international ambitions.
In 2024, UpGrad acquired Harappa Education to enhance its leadership and corporate learning offerings. The acquisition strengthens UpGrad’s position in the B2B learning ecosystem.
| Metric | Details |
|---|---|
| Employees | 5000+ (growing workforce indicates expansion) |
| Revenue | $150M+ (consistent annual growth) |
| PAT | -$45M (deepening losses) |
| EBITDA Margin | -20% (needs operational efficiency) |
| Strategic Investments | Harappa acquisition, global university tie-ups |
| IPO Status | Planned in next 2–3 years |
| Expansion Focus | MENA, SEA markets |
| Latest News | Acquired Harappa in 2024 |
UpGrad continues to strengthen its brand in the online education space with consistent revenue growth, strong acquisitions, and international expansion. Despite widening losses, its long-term bets on scale and brand are evident.
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