upGrad Plans to Hire 2800 Employees over 3 Months!!! Welcoming New Investors and Industry Veterans!!!

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upGrad Plans to Hire 2800 Employees over 3 Months!!! Welcoming New Investors and Industry Veterans!!!
upGrad Plans to Hire 2800 Employees over 3 Months!!! Welcoming New Investors and Industry Veterans!!!

upGrad Plans to Hire 2800 Employees over 3 Months!!! Welcoming New Investors and Industry Veterans.UpGrad, a leader in higher education technology in Asia, announced a new round of funding on Monday totaling $210 million from renowned investors and Family Offices.

ETS Global, the largest TOEFL and GRE test provider in the world, Bodhi Tree, a joint venture between James Murdoch and Uday Shankar, the BhartiAirtel Family Office, the NarotamSekhsaria Family Office (Ambuja Cements and ACC), and Artisan Investments, the Lakshmi Mittal Family Office (ArcelorMittal), as well as previous investors Temasek, IFC, and IIFL, participated in

Additionally, Founder Group contributed $12.5 million to this round to keep a holding in upGrad greater than 50%.

UpGrad’s valuation has climbed to $2.25 billion, according to a Bloomberg article, as a result of the new round of fundraising.

“We warmly invite new investors and seasoned business professionals to the upGrad cap table. The world is experiencing a massive reskilling revolution, and over the past five years, our 4,800+ coworkers have worked diligently and shrewdly to be at the centre of utilising this, not just in India but globally “Ronnie Screwvala and Mayank Kumar, co-founders of upGrad, said this in a joint statement.

“For the next four to five decades, higher education technology will grow. With career options for college students and working professionals from the ages of 18 to 58, upGrad has transformed itself over the past year to become the most integrated firm in this sector, and will be a lifelong learning partner for millions in the coming years.”

They continued, “We have always grown 100% year over year while being incredibly capital efficient, and we intend to maintain that discipline.

The upGrad workforce will increase from 4,800 to 7,600 in the next three months, the company stated in a statement. This will include roughly 170 full-time professors, 1,600 teachers, and more than 5,000 on-contract coaches and mentors, creating one of the largest full-time edtech faculties in the world.

With a programme completion rate of over 80%, upGrad has defied the industry slowing trend and grown to become a global leader in the higher education sector. Repeat customers and referrals account for 40% of the company’s overall revenue.

upGrad is on track to record annual gross revenue of $400-500 million during the ongoing fiscal, of which about 45 percent will be realised from its own-branded online courses and programmes.

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