UpGrad, a Mumbai-based startup, founded in 2015, has emerged as a changemaker in the online education sector. It has consistently worked towards merging traditional education with industry requirements, helping professionals and students to build a better future.
upGrad has tied up with top global institutes to facilitate access to career-oriented courses and guide Indian students and working professionals to grade their careers. upGrad Education Pvt. Ltd., an online higher education company, provides programs in data, technology, and management to UG, job seekers and working professionals.
UpGrad: Company Highlights
| Startup Name | upGrad |
| Headquarters | Mumbai, India |
| Founders | Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh |
| Industry Sector | EdTech |
| Year Founded | 2015 |
| Valuation | $2.25 billion |
| Parent Organization | upGrad Education Pvt. Ltd. |
| Official Website | UpGrad.com |
About UpGrad
In FY 2024, upGrad has achieved a gross revenue of ₹1,876 crore, with a 25% growth compared to 2023. It has also reduced its EBITDA losses by 50% YOY to ₹285 crore, with Ind-AS EBITDA losses dropping to ₹202 crore from ₹558 crore in FY 2023. In October 2024, upGrad secured $60 million in funding from Temasek, making its valuation to $2.25 billion.
UpGrad Founders and Team
upGrad learning platform was founded in 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh.
Ronnie Screwvala
He is the chairman of upGrad, a renowned personality in the Indian Television Industry, founder of Walt Disney India, Unilazer Ventures, Board of Advisor AIESEC India, and the founder of RSVP Movies. He has been listed among the 75 Most Influential People of the 21st Century and has also ranked 78 among the 100 most influential people in the world. He has been named Jack Warner of India and ranks among 25 Asia’s Most Powerful People.
Mayank Kumar
He is the co-founder and MD, leading all the operations of upGrad. He was VP of Education at Bertelsmann, one of the largest media and education sectors before starting upGrad.
Phalgun Kompalli
He is the head of sales and marketing and co-founder of upGrad, leading in partnering and customer acquisition. Before co-founding upGrad, he was a principal at the Parthenon Group, an education strategy consulting firm.
Ravijot Chugh
He leads career services, design content, delivery and students’ academics at upGrad. He has prior experience as a product lead in companies like Housing.com, and the Parthenon Group, and has also co-founded a travel startup called 36hrs.
UpGrad Startup Story
The idea of upGrad started by recognizing the gap between traditional education and industrial demands.to make theoretical knowledge useful for individuals in the workplace, Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh launched this online learning platform, upGrad. The main focus was on making education accessible to professionals and collaborating with the best universities to provide high-quality education.
UpGrad Courses and Programs
upGrad offers a diverse range of programs in different domains like Data Science, Machine Learning, Business Management, Digital Marketing and Software Development. These courses are made in partnership with global top universities to meet the current market needs. To enhance the learning experience, they also support one-on-one mentoring, peer-to-peer learning, industry networking and expert career guidance.
UpGrad Business and Revenue Model
upGrad operates on a B2C model and generates revenue primarily through program fees. They also collaborate with enterprises to provide the best training solutions, which also contributes to the revenue. 50% of the program fees are collected from the student only if they get placed after the completion of the program, which is one of the rarest strategies in India. As of 2024, upGrad has generated Rs 1,876 crore in revenue, showing its growth in the edtech sector.
UpGrad Funding and Valuation
The company has raised a total of $668.2 million till now in 7 funding rounds.
| March 29, 2023 | $30M by Ronnie Screwvala |
| August 8, 2022 | $210M by ETS Global, Bodhi Tree, Kaizen Management |
| June 16, 2022 | $225M by Lupa Systems, ETS |
| August 9, 2021 | $65M by IFC, IIFL, Temasek |
| April 26, 2021 | $120M by Temasek |
| April 14, 2021 | $9.3M by Unilazer Ventures |
| August 12, 2020 | $6.69M (Debt) by IIFL Asset Management |
UpGrad Acquisitions
To enhance its services globally, upGrad has made major acquisitions like KnowledgeHut, Talentedge, and Global Study Partners (GSP), leading them to new markets. upGrad’s total acquisition count is 16 companies to date.
UpGrad Growth
· upGrad has experienced significant growth, with its online services impacting over 7 million students across 100 countries in 5 years.
· The company is valued at $2.25 billion, leading the edtech industry.
· It achieved 100% growth in FY21 and has over 45,000 paid students and 10,000 graduates in 2022.
· UpGrad collaborates with 300 global universities, 20,000 recruiters, and 30,000 corporate partners.
· It claims to have facilitated jobs in over 10,000 companies worldwide.
UpGrad Awards
this online learning platform has been appreciated by many organisations and has won multiple awards.
- Government of India’s ‘Start-up India’ Education Partner (2016)
- Achiever of the Year by BW Disrupt (2017)
- Top 10 Most Innovative Companies in India by Fast Company (2017)
- LinkedIn’s ‘Top 25 Startups’ (2018)
- Brandon Hall Group Awards: Best Excellence in Learning (2021) and Best Advanced in Creating a Learning Strategy (2022)
UpGrad Future Plans
UpGrad plans to expand globally, aiming to become a fully integrated learning platform. It targets over 5 million alumni, to upskilling professionals by 2025. They also have plans to expand their courses to cybersecurity and cloud computing and establish 100 offline centres to support online classes. Additionally, upGrad is preparing for an IPO shortly.
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Conclusion
upGrad’s journey from a startup to a leading edtech platform shows its well-established structure and commitment towards transforming the education sector. By constantly upgrading its features, upGrad has placed itself at the top in the online learning sector by upskilling careers.
Frequently Asked Questions
What is the primary focus of upGrad?
UpGrad focuses on providing industry-relevant online education programs to help professionals learn and build a better future.
Who founded upGrad?
UpGrad learning platform was founded in 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh.
What is the typical duration of UpGrad’s programs?
The duration of UpGrad’s programs depends on the course selected, with an average of 6 months to 1 year.
What are the future plans of upGrad?
UpGrad plans to launch its IPO shortly and establish 100 offline centres to support online classes.
What types of programs does upGrad offer?
UpGrad provides a variety of programs, including diplomas, master’s degrees, Executive Doctorates, and certification courses in areas such as digital marketing, product management, entrepreneurship, and data analytics.
