Global edtech leader upgrad earmarks $250m for M&A, growth
DUBAI: Riding strong on its non-linear growth strategy, global edtech leader upgrad has earmarked $250 million for mergers and acquisitions over the next seven to nine months. Recent reports indicate that upgrad would cross half-a-billion dollar annual revenue run rate by March’22 and is looking to raise close to $400 million at a valuation close to $4 billion.
Highlighting up grad’ s non-linear growth strategy, Ronnie screw val a, co-founder, and chairman, up grad commented, “We continue to build a very strong, integrated, connected model in higher education across multiple geographies including Middle East and South Asia. Personally, I am a strong believer that the whole is always bigger and more valuable than the sum of the parts. Outside of cash, we see a very strong value currency in our stock to look to merge/ acquire companies with exceptional founders who will join us as fellow entrepreneurs to build this out over the next decade.”
upgrad has identified specific segments as well as target companies for its mergers and acquisitions, two of which will be announced over the next 60 days. Some of these target companies are based in the MENA region. upgrad recently announced online learning programs for UAE and Saudi professionals that are designed to accelerate careers and grow regional businesses.
Despite being a recent ed tech player, up grad has built out a strong tech plaform and deep immersive learning experience with high touchpoints to capture close to 70% of the Indian higher education market for working professionals. This stealth approach of operating under the radar, coupled with the rare combination of founder-funded for the full first leg, has helped upgrad focus on their core vision.