Ed-tech platform Scaler Academy plans to expand its presence within India including markets such as Tamil Nadu and Maharashtra , as well in California, in the US, in the next quarter, Abhimanyu Saxena, co-founder of Scaler Academy and InterviewBit told FinancialExpress Online. Saxena further added that it plans to add new courses in blockchain and product designs. The platform caters to Indian and US audiences markets within the regions. The company has received $55 million in a Series B funding round led by Light rock India in January 2022, along with two existing investors, Sequoia Capital India and Tiger Global.
The ed-tech platform claims that course fees are the primary source of revenue. As per the firm, last fiscal, 8,500 students enrolled for its courses. The platform offers online courses in two subjects – software development and data science. The duration of the courses are 7 to 11 months, each. The fee for both the courses is Rs 2.5 lakh, each. The company however claims that it plans to increase the fee of data science course to Rs 3.5 lakh. The company claims to receive about 2,000 applications for each batch, which is divided into 50 to 200 learners.. “We have been working with 700 companies, helping them hire techies in both the countries,” added Saxena.
As per data shared by Saxena, the gross revenue of the company in FY21 stood at Rs 212.5 crore. When asked about the net loss for FY21, Saxena replied, “Our net monthly expense is less than the money collected every month. However as we offer a nine month course, hence we prorate the revenue over the same period. So realised revenue wise we are making some losses, I do not have exact numbers here. The courses are between 7 to 11 months in deliverables, hence we amortise for nine months.”
As per Scaler Academy about 15,000 students have taken admission so far. It goes on to say that those students on an average, have registered 2.6 times increased remuneration, post completion of courses. “The average cost to company (CTC) of a Scaler learner with less than two years of experience is Rs 17 lakh per annum (LPA), those with six years of experience is around more than Rs 20 LPA, learners with six to ten years of experience get more than Rs 32 LPA, and those with over ten years of experience receives almost Rs 57 LPA,” Saxena said.
Scaler Academy was founded by Abhimanyu Saxena and Anshuman Singh in 2019 with an aim to bridge the gap between professionals and skill. “Indian start-ups and established business conglomerates across sectors need experienced tech professionals. Skilled engineers, data scientists, and machine learning professionals are assets for any organisation today. It is safe to assume that the demand for professionals adept in Software Engineering, DS, and ML will only grow larger as we move deeper into 2022,” he added.
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