Simplilearn targets Rs 500 cr revenue by 2021
Bangalore, May 16, 2019: Ed-tech company Simplilearn said it aims to clock Rs 500 crore in revenue by 2021 as it strengthens its international operations and enterprise offerings. The company had recorded a revenue of Rs 149 crore in 2017-18 and currently has a revenue run rate of Rs 300 crore. Founded in 2010, Simplilearn has grown its employee base from 400 in 2017 to over 1,000 in 2019.
Krishna Kumar, Founder and CEO at Simplilearn, said “We are witnessing a great demand for digital skilling certification courses amongst individual professionals and enterprises. Further, we have been able to grow very efficiently, running at roughly break-even, making us one of the most successful companies in the ed-tech space. Our high-engagement model – live classrooms, experienced trainers and contextualized training solutions has helped over a million professionals secure better jobs at one end, and on the other it is helping enterprises in retaining, upskilling its talented workforce. We are committed in helping India build a relevant, future-ready digital workforce in the next five years as our economy, and the whole world, goes digital.”
The company said it aims to reach its revenue milestone with its focus on four key areas.
- Simplilearn said it will continue to expand its international operations by strengthening its presence in core markets like US and Singapore. Over 60 per cent of company’s business comes from its international business. There are more than 3 lakh learners upskilling via Simplilearn from US and other markets
- Simplilearn also plans to strengthen its domestic operations from cities like Chennai, Hyderabad, Pune, Kolkata apart from Bengaluru, Mumbai and Delhi. It will focus on expanding curriculum across categories like cloud, data science, machine learning and artificial intelligence.
- In March 2019, the company has signed a Memorandum of Understanding (MoU) with National Skill Development Corporation(NSDC) to upskill learners in digital skills. As a part of the MoU, 33 of Simplilearn’s courses are accredited by NSDC, makingSimplilearn a key contributor to the government’s Skill India program.
- Simplilearn derives around 30% of its business from enterprise reskilling and upskilling. Currently the company is working with 200+ enterprises across the globe. On a cumulative basis, the company has around 1000 enterprise customers including fortune 100 organizations.
