Global edtech major upGrad raises USD 120 million

upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations, bolster its technology and product capabilities, pursue M&A opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its USD 2 billion revenue goal by 2026, thereby reinforcing its position as a global higher-edtech leader emerging from India.  upGrad plans to use the fresh capital to further strengthen its team, scale its global market...

upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations, bolster its technology and product capabilities, pursue M&A opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its USD 2 billion revenue goal by 2026, thereby reinforcing its position as a global higher-edtech leader emerging from India. 

upGrad Co-Founders Ronnie Screwvala, Mayank Kumar and Phalgun Kompallisaid in a joint statement, "We welcome Temasek in our mission to power career success for each and every member of the global workforce as their trusted LifeLongLearning partner and drive meaningful career outcomes. This capital will further fuel our commitment towards global expansion as well as deeper India penetration, as we march forward with our goal of making India the teaching capital of the world."

Credit Suisse acted as the exclusive financial advisor to upGrad, and Rajaram Legal acted as legal advisor.

About upGrad

upGrad is South Asia's largest online higher edtech company offering 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the international edtech leader has impacted over 1 million total registered learners over 50+ countries across the world.

upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021.

To know more, visit: www.upgrad.com

Contact:
Neha Prasad
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