Simplilearn, an edtech company that offers online upskilling courses, is on track to achieve a revenue of around Rs 700 crore in the current financial year, according to its founder and CEO Krishna Kumar. The company has seen a growth rate of about 80 per cent in the face of the Covid-19 pandemic and the rising demand for digital skills.
Blackstone’s investment boosts growth
Simplilearn’s revenue has more than doubled in the last six months, after global private equity firm Blackstone took a controlling stake in it in July-August 2021. Kumar told Moneycontrol that when Blackstone invested, Simplilearn had reported a revenue of Rs 357 crore, which has crossed Rs 800 crore now. He added that by the end of FY23, the number is expected to be more than Rs 1,300 crore.
Organic footprint and global presence
Simplilearn has built a large organic footprint by offering free self-learning courses to attract learners, who are only charged if they want to join cohort-based courses, get a branded certificate or learn from an expert. The company has partnerships with leading industry names like IBM, Microsoft and universities across the world. Kumar said Simplilearn gets around 120,000 free users every month and has the highest traffic among its peers.
Simplilearn has also been a global company since its inception, with a significant footprint in the US market. Kumar said Simplilearn’s global business made 90 per cent of its revenue 10 years ago and India was 10 per cent. This split was 70 per cent global and 30 per cent India before Covid and today stands at 55 per cent global and 45 per cent India. The company is also expanding its operations in other markets like Saudi Arabia, Dubai, Thailand and Singapore.