It plans to tackle the US$1 billion corporate training market in India
India-based online education for working professionals provider UpGrad has announced it has acqui-hired mobile corporate education platform Pyoopil.
This acquihire will allow UpGrad to tackle India’s US$1 Billion+ corporate training market in India. It expects to build a US$100 million revenue business in the next five years. Additionally, it expects to achieve a US$20 million topline in B2C business.
The corporate education industry is expected to grow and evolve drastically as digital automation replaces many low-skilled jobs.
It would be imperative for corporations to invest in new skill sets for their employees in order to stay competitive in the new economy.
UpGrad believes its solutions will be well-poised to serve the needs of corporations as more of them adopt online training services to cut down on costs. It is estimated that currently 40 per cent of offline classroom training costs are spent on non-learning needs such as lodging and travel.
“The Pyoopil team is driven by immense passion towards working in Ed-tech and strong product expertise having built an engaging mobile learning product. They will now be part of our team, helping us in the next phase of our product evolution,” said Mayank Kumar, co-founder and managing director of UpGrad, in an official press statement.
Founded in 2015, UpGrad has delivered professional training programmes in the areas of data analytics, product management, and digital marketing to companies such as Mahindra, Tata, and HCL.
Companies such as Cognizant, Genpact, Gramener, Star TV, Disney, Uber, Google, Microsoft, and BookMyShow have also partnered with UpGrad to contribute programme content in the form of case studies.
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Image Credit: Pyoopil
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