Edtech startup Simplilearn reported a 50 per cent rise in its revenue to ₹701 crore for FY23, compared with ₹465 crore in FY22, according to its statement.

The company also narrowed its losses from 35 per cent to 29 per cent, the statement added.

Simplilearn is a digital upskilling platform that provides training in cyber security, cloud computing, project management, digital marketing, and data science, among others.

The 13-year-old company derives its revenues by providing comprehensive learning programmes (online and offline). Income from hosting services, live and virtual classes, and the sale of examination vouchers were the key revenue drivers for Simplilearn in FY23.

In the current fiscal year, Simplilearn claims to have achieved significant milestones with the acquisition of Fullstack Academy, a US-based bootcamp education company. A fundraising round led by GSV Ventures, a multi-stage venture capital firm, has further propelled the company’s global growth, according to a statement.

The company has collaborated with the likes of IBM, Microsoft, AWS, Google, and educational institutions such as Caltech CTME, MIT Schwarzman College of Computing, UMass Amherst, Isenberg School of Management, Purdue University, Wharton Online, IIT Roorkee, and IIT Kanpur.

“Our strategic efforts, harmonising the realms of academia and industry, deliver unparalleled hands-on learning experiences, evident in our remarkable year-over-year growth of 50%. Our commitment to excellence is further underscored by optimising our losses from 35 to 29 per cent,” said Krishna Kumar, founder and CEO of Simplilearn.

The company noted that it conducts more than 3,000 live classes, with an average of 1,00,000 learners who spend more than 500,000 hours each month on the platform. The range of programmes offered by Simplilearn aims to help learners upskill.

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