- Great Learning posted a revenue of ₹325 crore in FY20, thanks to the increasing demand for upskilling in the emerging technologies like cloud computing, data science, machine learning and AI.
- Its Founder Mohan Lakhamraju told Business Insider that the current situation has accelerated the adoption of online learning tools.
- The edtech platform offered over 100 industry-specific courses including analytics, programming, data science, AI, ML and cloud computing for free during coronavirus lockdown.
- Lakhamraju said the company crossed 100,000 learners in March and April with a higher completion rate at 90% for technical courses.
Online learning platform Great Learning doubled its revenue to ₹325 crore in the financial year ending March, 2020. And that was just the start of the good times for the 7-year old bootstrapped edtech startup founded by the Stanford graduate and former Managing Director of
Tiger Global, Mohan Lakhamraju.
And the COVID crisis just proved to be better for the edtech industry. From Byju’s to upGrad and Simplilearn, all saw a sudden surge in learner enrollments. “The company has started FY21 with a 5x growth in the learner base on its platform, due to increased interest in learning from professionals and college graduates who had to stay at home due to the COVID lockdowns,” the company said.
Online learning is here to stay — and gain. As students and learners moved to remote learning setup, most edtech platforms offered
free online courses during the lockdown period. Most of the growth came from rising demand for upskilling in the emerging technologies like cloud computing, data science, machine learning and AI.
The COVID manoeuvreGreat Learning too launched its free learning resource to let working professionals upskill during the coronavirus lockdown. It offered over 100 industry-specific courses including analytics, programming, data science, AI, ML and cloud computing. The platform claims to have trained over 400,000 learners so far.
The surge in business has also led to a surge in online education platforms. "Quality of faculty and the learning experience will become the differentiators in the times to come," Lakhamraju told Business Insider.
Sign ups are not enoughThe completion rates for these courses also went up during the same time. Lakhamraju said the company crossed 100,000 learners in March and April with a higher completion rate at 90% for technical courses.
As much as 80% of the learners of the platform are working professionals — including the employees from 700 global and Indian multinationals. While university students account for 20% of the user base, Lakhamraju told Business Insider.
Every two in three learners, who were working professionals, saw an average salary hike of 45% after the completion of the course, Great Learning highlighted.
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