Ed-tech platform which provides executive programmes, is eyeing global expansion, with a plan to invest approximately about Rs 100 crore in FY 23. The ed-tech company claims that in the next one month it will roll-out multiple programmes which will be international in terms of scale as well as curriculum. “We are setting up a large team to enter these global markets and offering certifications related to management, functional and techno-functional programs like business analytics, artificial intelligence, machine learning, cyber security, cloud computing etc. These courses will cater to this demand of skilled professionals in the Indian market as well as across the globe,” Ranjita Raman, CEO, Jaro Education, told FinancialExpress online. Raman however, referred this investment as a marketing spend.
The ed-tech platform posted a profit of Rs 4 crore , while net revenue stood at Rs 49 crore in FY19, according to regulatory sourced by business intelligence platform, Tofler. The company earned revenue of Rs 47.5 crore from enrollment services and Rs 1.5 crore from program manager services. According to Raman, enrollment services represent admission support services and program management services represent the managing program in India on behalf of foreign universities or institutes. Further, regulatory filings revealed the company had an external borrowing from banks of Rs. 5.50 crore.
The company claims that it will allocate 10-15% of the budget spend on upskilling and remunerating the existing manpower. Another 10-15% will be spent on the expansion of the workforce in marketing. “40% of the spends have been allocated to global marketing in an effort to hire learners in markets such as the US, UK and Gulf region. Another 30% which will be further divided into areas – will be invested in creating the required ecosystem in addition to recruiting staffers,”Raman added. The remaining 30% will be spent towards advertisements and endorsements which includes offline and online, corporate promotions, offline activations, social media, video content, among others. As per the company the reason for the rise in advertisement and promotion expenses is due to the increased focus on digital spending.
Further, the ed-tech firm plans to partner with two universities – one of the IITs besides Adani Institute of Management. “Jaro education has always taken strategic moves such as all the programmes are offered through synchronous and immersive learning so that students are engaged throughout the programmes and there is the low dropout rate. Second is the partnership with top-level institutions like IIM Ahmedabad, which has partnered only with Jaro education. Third, the exclusivity and quality of service we have created for ourselves differentiate us from the rest of the crowd,” Raman explained.
Moreover it claims to have posted a 150% growth in its learners’ base of both students and professionals in the last two years on the back of the on-going pandemic. This growth as per the company is mainly attributed to 3,00,000 working professionals who have opted for its executive education courses from the top reputed institute of India. As per Raman, it has been seen that approximately 30-35% of its learners refer their colleagues, acquaintances every year for our various executive education courses. “Also,10-15% of the learners look forward to upskilling again with long-duration courses such as doctorate, senior management and leadership programs, strategy based programs, ” she said.