Upgrad Buys Centum Learning To Upskill Enterprise Workforce
Sunday, 18 September 2022, 16:32 IST
Online higher education platform upGrad on Thursday said it has acquired corporate training solutions provider Centum Learning in a share swap deal. The company did not disclose the deal size. With this transaction, Bharti Enterprises and its affiliates will join upGrad's cap table. New Delhi-based Centum with 2,000 employees is likely to clock a revenue of Rs.170 crore in FY23.
Centum's will continue to operate independently under Sanjay Bahl, Managing Director and CEO, the company said in a statement. “upGrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLong Learning ecosystem for our stakeholders", said Mayank Kumar, Co-founder and MD, upGrad.
Centum has been enabling 360-degree learning solutions right from entry-level professionals to midlevel leaders with direct and measurable business impacts. With over 3,000 L&D specialists, Centum Learning has trained more than two million people, empowering 400+ corporates across India and Africa. “Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results", said Sanjay.
Last month, upGrad raised $210 million (about Rs 1,670 crore) in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors and others. The edTech company said it is on track to record annual gross revenue of $400-500 million during FY23, out of which about 45 percent of total revenue will be realized from its own-branded online courses and programmes. Started in 2015, the edTech platform has a learner base of over three million across more than 100 countries, over 300 university partners and a client base of 1,000 companies.
In July, upGrad acquired online learning institution Harappa Education for Rs.300 crore (about $38 million).
Centum's will continue to operate independently under Sanjay Bahl, Managing Director and CEO, the company said in a statement. “upGrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLong Learning ecosystem for our stakeholders", said Mayank Kumar, Co-founder and MD, upGrad.
Upgrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent b2b learning in india and create an integrated lifelong learning ecosystem for our stakeholders
Centum has been enabling 360-degree learning solutions right from entry-level professionals to midlevel leaders with direct and measurable business impacts. With over 3,000 L&D specialists, Centum Learning has trained more than two million people, empowering 400+ corporates across India and Africa. “Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results", said Sanjay.
Last month, upGrad raised $210 million (about Rs 1,670 crore) in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors and others. The edTech company said it is on track to record annual gross revenue of $400-500 million during FY23, out of which about 45 percent of total revenue will be realized from its own-branded online courses and programmes. Started in 2015, the edTech platform has a learner base of over three million across more than 100 countries, over 300 university partners and a client base of 1,000 companies.
In July, upGrad acquired online learning institution Harappa Education for Rs.300 crore (about $38 million).
.jpg "Revamping Retail As We Know IT")
