Bengaluru-based edtech startup, Great Learning, has announced impressive financial results for FY24, reporting a revenue of $118 million. This marks a 23% year-on-year (YoY) growth, demonstrating the company’s continued dominance in the professional upskilling market. Remarkably, the company maintained its EBITDA positive status despite rapid growth, reflecting its solid financial health.
Founded in 2013 by Mohan Lakhamraju, Great Learning has become one of India’s leading edtech platforms, particularly in the field of upskilling. The startup offers a range of programs in emerging fields such as artificial intelligence (AI), machine learning, data science, and cybersecurity. These courses are developed in collaboration with top global academic institutions like IIT Bombay, Johns Hopkins University, Stanford University, and MIT.
The driving force behind Great Learning’s remarkable financial performance is the increasing demand for professionals skilled in emerging technologies. With the rise of digital transformation, companies around the world are seeking experts in fields like big data, AI, and cloud computing. This demand for niche skills has led to a surge in enrollment in Great Learning’s courses, which are known for their quality and global relevance.
Great Learning’s reputation is enhanced by its strategic partnerships with prestigious academic institutions. These collaborations allow the company to offer globally recognized certifications, making their programs highly attractive to working professionals seeking career advancement. Alongside its online courses, Great Learning also employs a hybrid learning model, combining online modules with in-person mentorship and live sessions.
Unlike many other edtech companies that struggle with profitability, Great Learning has managed to stay EBITDA positive while expanding its offerings. This financial success can be attributed to effective cost management and operational efficiency. The startup has also expanded into new verticals such as cloud computing and blockchain, further tapping into the growing demand for advanced tech skills.
In FY24, Great Learning continued its global expansion, now serving over 5 million learners from 170 countries. The company has also been aggressive in expanding its international presence and now aims to capture a larger share of the global upskilling market.
In 2021, Great Learning was acquired by BYJU’s, a move that has provided additional resources to scale its operations. With access to more advanced learning technologies, including AI-driven learning platforms, Great Learning is now better equipped to provide personalized learning paths for its students.
Great Learning’s CEO, Mohan Lakhamraju, has emphasized the company’s commitment to innovation and further global expansion. With the upskilling market projected to grow exponentially, the edtech firm plans to introduce new courses and strengthen its international partnerships. The goal is to continue empowering professionals worldwide with future-ready skills aligned with evolving market demands.
Credit: This article is based on information from Economic Times, YourStory, and Inc42.
Key Highlights:
- Great Learning crossed $118 million in revenue for FY24, marking a 23% YoY growth.
- The company stayed EBITDA positive, showcasing effective cost management during expansion.
- Great Learning expanded into new tech verticals like cloud computing and blockchain.
- Strategic partnerships and international expansion are key to its growth strategy.