SUMMARY
- Great Learning’s revenue reached $118 million in FY24, marking a 23% YoY growth.
- The company remained EBITDA positive and continued to stay profitable.
- The startup offers upskilling programs in collaboration with global universities like IIT Bombay, Johns Hopkins, and Stanford.
Bengaluru-based edtech startup, Great Learning, has announced impressive financial results for FY24, with its revenue crossing the $100 million mark. The company recorded a 23% year-on-year (YoY) growth in revenue, reaching $118 million. Despite this significant increase in revenue, Great Learning maintained its EBITDA positive status, reflecting solid financial health while staying profitable.
Founded in 2013 by Mohan Lakhamraju, Great Learning has established itself as one of India’s leading edtech platforms, specializing in upskilling for professionals. The startup offers a wide range of courses in high-demand fields such as data science, artificial intelligence (AI), machine learning, and cybersecurity. These programs are delivered in collaboration with renowned global academic institutions, including IIT Bombay, Johns Hopkins University, Stanford University, and MIT.
The strong revenue growth can be attributed to the rising demand for specialized skills in a rapidly evolving job market. As businesses worldwide continue to embrace digital transformation, there is an increasing need for professionals with expertise in emerging technologies like AI, big data, and cloud computing.
Great Learning’s focus on quality partnerships with prestigious global universities has bolstered its credibility, making its courses highly sought after by working professionals looking to upskill and advance in their careers. In addition to offering online programs, the edtech firm has a strong hybrid learning model, combining online modules with in-person mentorship and live sessions.
While many edtech companies struggle with profitability, Great Learning’s achievement of remaining EBITDA positive even amid expansion demonstrates its robust business model. The company’s ability to sustain profitability while growing its revenue indicates effective cost management and operational efficiency.
In FY24, Great Learning also expanded its course offerings in new verticals like cloud computing, blockchain, and cybersecurity, tapping into the growing demand for advanced tech skills. The company now boasts more than 5 million learners from over 170 countries, with courses tailored to meet global standards and industry requirements.
Great Learning’s strategic partnerships with global academic giants have been instrumental in enhancing its offerings. These partnerships enable the company to provide globally recognized certifications, enhancing the credibility and value of its programs. The startup has also been expanding its footprint internationally, aiming to capture a significant share of the global upskilling market.
The company’s aggressive push for international expansion is complemented by its acquisition by BYJU’s in 2021, which has provided additional resources for scaling. This acquisition helped Great Learning integrate more advanced learning technologies, including AI-driven learning platforms and personalized learning paths for students.
With the upskilling market projected to grow exponentially, Great Learning plans to expand its portfolio of courses and strengthen its international presence further. The company is committed to empowering professionals across the globe with future-ready skills that are aligned with evolving market demands.
Great Learning’s CEO, Mohan Lakhamraju, highlighted that the company aims to build on its success by continuing to focus on innovation, launching new programs, and forging more partnerships with top academic institutions globally.
