Digital skills training platform Simplilearn aims to earn net revenue worth $500 million by end of FY26. In addition, it plans to strengthen its footprint in Latin America and Europe by the end of FY24. “Our primary markets in Latin America will be Brazil, Mexico besides France, Germany, Spain and the United Kingdom,” Kashyap Dalal, co-founder and chief business officer told FE Education online. Further, the company plans to introduce new courses in product management, general management, digital transformation, design thinking, and application of artificial intelligence (AI) in business in six to nine months.
The company which claims to offer certifications, postgraduate and job guaranteed programmes along with corporate training, claims to grow its annual revenue at a run rate of $150 million. However, Dalal declined to comment on its net revenue and losses in FY22. Regulatory files accessed by business intelligence platform Tofler revealed that Simplilearn’s revenue from operations increased 25% to Rs 228.76 crore in FY21 from Rs 182.86 crore in FY20. The company’s net loss widened 837.07% to Rs 9.8 crore in FY22 from Rs 1.05 crore in FY20.
Dalal further added that the company’s main revenue stream is the course fee paid by the students, which accounts for 67% of the total revenue. The remaining 33% revenue, it earns from corporate training. The company also claims its paid user base to be 1.5 lakh; on average, every month, the platform receives 20,000 paid enrollments across courses.
Meanwhile, the company recently announced plans to hire 800 team members by the end of 2022, primarily across product, tech and marketing. Further, it looks to strengthen its leadership team in India and the US and hire at vice president, senior vice president, and chief experience officer level in the next few months. The company further plans to recruit C-suite-level executives in the US.