Edtech major upGrad to hire more than 1400 people by March 2023 to continue its growth and expansion plans to impact students in India and across the globe. The news was announced on Wednesday by the edtech startup Upgrad.
According to an official report, the company submitted offers to hire people in India and global offices between November 2022 and March 2023. “There is no winter funding for startups with real business models,” says upGrad co-founder Ronnie Screwvala.
“We are expanding to accommodate the larger teams that we bring in. Additionally, while our focus is on strong online delivery models, we encourage current and prospective students to meet with us in person as they decide which program is right for them,” Mayank Kumar, co-founder and managing director of upGrad, said it's a statement.
The majority of the 1,400 members will be recruited as teachers, trainers, and experts, followed by sales and marketing, content and delivery, and the learning experience.
The focus of the appointments will be on high-growth areas, including study abroad, 10 world-class universities, job readiness and enablement programs launched by upGrad in India and the US in the last 90 days, as well as such as ATLAS SkillTech University in Bombay. Promote the hiring of 3,000 people in 3 months, close to getting new financing.
To date, 'One upGrad' has impacted 8.2 million students in soft skills, test preparation, college-related programs, credential-related programs, placements, job transfers, and career advancement.
In addition, upGrad has signed new leases for 335,000 square feet in recent months for use in offices, offline campuses, student housing, studios, and practice rooms for a growing list of teachers and professors.
upGrad's overseas plans include building teams in Singapore, San Francisco, Indonesia, New York, West Asia, and London. In addition to teachers and trainers, the educational technology company is also looking for new talent in the sales, marketing and content departments. Currently, upGrad employs more than 5,000 people.
“While we focus on strong online delivery models, we encourage students to meet with us in person as we select the right program for them,” Kumar said. “Being offline allows us to be closer to the students.”
Unicorn has submitted the massive hiring plan ahead of the funding round that is expected to close soon. This is a time when upGrad peers, not just in India, are struggling to keep up with funding shortages. Kumar said that an announcement will be made without revealing the names of the investors participating in this round.
The edtech sector boomed in 2020 and 2021 when the pandemic hit and online education became the go-to learning method. In 2021, education companies are reported to have raised more than 4.5 billion dollars. But as physical classes resumed, funding dried up in 2022, and many resorted to mass layoffs. Reports indicate that startups have launched close to 12,000 so far this year and another 50,000 could face the axe.
"With the onset of the pandemic, there was a huge leap (in online education) and because there was a money supply, funding was available. Much of the push towards commercialization and awareness of online education happened in the largest ecosystem.”
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