Online education provider for working professionals, UpGrad has acqui-hired Pyoopil, a mobile-based SaaS product used by companies to deploy online training programmes.
With this, UpGrad will be able to foray into the $1B+ corporate training market in India. The company expects to build a $100M revenue business in the next 5 years and achieve a topline of $20M from its B2C business in the next fiscal year, it said in a statement.
Upgrad believes that many jobs and skills will become obsolete in the coming years, and unless corporates upskill their workforce, they are headed towards losing their competitive advantage. “We want to be their learning partner of choice for developing new skills and competencies, says Mayank Kumar, Co-Founder and MD of UpGrad.
UpGrad is currently in discussions with 30+ companies in efforts to develop and deliver customised programs. “We are seeing a strong demand from companies who are looking to train their employees at a large scale. And UpGrad’s highly engaging online learning solution allows us to deploy learning solutions for enterprise at massive scale. Our new programs for corporate will focus on imparting skills around data, digital and innovation for workforce across corporates,” said Ronnie Screwvala and Mayank Kumar, Co-founders, UpGrad in a joint statement.