upGrad KnowledgeHut eyes annual revenue run rate to reach Rs 300 crore by Mar 2022

Technology skill provider upGrad KnowledgeHut, part of upGrad, on Wednesday said it is eyeing a Rs 300-crore annual revenue run rate in March 2022.

The company targets a Rs 300-crore annual revenue run rate in March 2022, a massive jump from Rs 80 crore within 7 months of coming into the upGrad fold, according to a statement.

This is due to a significant increase in demand for short-form courses by the global workforce to upskill and improve their competency, it added.

upGrad KnowledgeHut customers are global with the US and Southeast Asia forming the major markets followed by India.

''We are in the value chain for college learners and working professionals, and in that short-form courses allow for immediate gratification with regard to competency levels for our learners.

''Short-form courses will play a critical role in capturing a lion's share of the upskilling and reskilling segment, which has market potential of over USD 58 billion,'' upGrad co-founder and Chairperson Ronnie Scewvala said. With the online education sector projected to touch USD 325 billion in 2025, short-form courses will play a critical role in establishing the market leaders, upGrad KnowledgeHut CEO Subramanyam Reddy said.

''Leveraging this opportunity, we have been focused on driving technical skills for our learners across the globe to improve overall competency scores and improve employability for all,'' he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)