Bangalore, India, May 16, 2019 : Simplilearn, an India-based global ed-tech company and a leading digital skills training provider, today announced its goal is to achieve INR 500 crorein revenue by 2021. The company, as per latest 2017-18 RoC data had recorded revenues of INR 149 crore for the year ending 2017-18 and is currently at the revenue run rate of INR 300 crore.
Founded in 2010, Simplilearn has maintained its leadership position in the space of digital skilling solutions for learners, corporates and enterprises. The company has been rapidly growing year-on-year has increased its employee strength from 400 in 2017 to over 1000 in 2019.
The company aims to reach INR 500 crore revenues by 2021 at the back of four pillars :
- International Operations: Over 60% of company’s business comes from its international business. There are more than 300,000 learners upskilling via Simplilearn from U.S. and other markets. Simplilearn will continue to expand its international operations by strengthening its presence in core markets like U.S. and Singapore. The company has two offices in the U.S. – San Francisco and Raleigh (North Carolina) and a distributed workforce in other major cities like New York, Boston, Seattle and San Diego.
- Domestic operations – While 70% of domestic business comes from Bangalore, Mumbai and Delhi, the company has set strong targets from other markets like Chennai, Hyderabad, Pune, Kolkata where the demand for digital skilling is growing at a double-digit rate. 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, making Simplilearn a key contributor to the government’s Skill India program.
- Deeper curriculum in key skills areas: The company’s main focus is to get deeper into categories that are going to dominate the tech space which includes Cloud, Data Science, Machine Learning and Artificial Intelligence
- Growing enterprise segment: 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.
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.”
