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Simplilearn targets Rs 500 cr revenue by 2021

Business Finance

Press Trust of India  |  New Delhi 

Ed-tech company Simplilearn Wednesday said it aims to clock Rs 500 crore in revenue by 2021 as it strengthens its international operations and enterprise offerings.

The company had recorded a revenue of Rs 149 crore in 2017-18 and currently has a revenue run rate of Rs 300 crore.

Founded in 2010, Simplilearn has grown its employee base from 400 in 2017 to over 1,000 in 2019.

"We are witnessing a great demand for digital skilling certification courses amongst individual professionals and enterprises. Further, we have been able to grow very efficiently, running at roughly break-even," Simplilearn founder and CEO Krishna Kumar said in a statement.

The company said it aims to reach Rs 500 crore revenue milestone by 2021 with its focus on four key areas.

Simplilearn said it will continue to expand its international operations by strengthening its presence in core markets like US and Singapore.

"Over 60 per cent of company's business comes from its international business... There are more than 3 lakh learners upskilling via Simplilearn from US and other markets," it elaborated.

Simplilearn also plans to strengthen its domestic operations from cities like Chennai, Hyderabad, Pune, Kolkata apart from Bengaluru, Mumbai and Delhi. It will also focus on expanding curriculum across categories like cloud, data science, machine learning and artificial intelligence.

The fourth area of focus would be the enterprise segment that contributes 30 per cent of the business.

"Currently, the company is working with over 200 enterprises across the globe. On a cumulative basis, it has around 1,000 enterprise customers including fortune 100 organisations," the statement said.

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

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First Published: Wed, May 15 2019. 19:56 IST