As Mumbai-based professional education and skilling startup Imarticus Learning prepares to launch a Rs 1,000 crore IPO in FY27, it will be focusing on areas like scaling outcome-driven career programmes across emerging job roles and expanding enterprise learning partnerships, particularly in AI, cybersecurity, and digital transformation. “We will also focus on scaling our industry-led higher education institution, ISFB’s (India’s school of finance and business) flagship undergraduate and postgraduate programmes, strengthening global academic and industry collaborations, and building a practitioner-led learning model that closely integrates education with real-world financial careers,” Nikhil Barshikar, founder and CEO, Imarticus Learning, told Fe. The edtech firm plans to file its draft red herring prospectus (DRHP) with SEBI in Q3 FY27.
In FY26, the firm strengthened its proprietary learning ecosystem through AI-enabled learning pathways, adaptive assessments, real-world simulation environments, and integrated career services platforms. Across corporate training, the firm is increasingly deploying AI-led skill diagnostics, role-based learning journeys, and analytics dashboards that help enterprises measure skill progression and business impact rather than just course completion.
As of April 2025, Imarticus Learning has raised a total of $11.7 million, with key investors including Global Ivy Ventures, Caspian, and BLinC Invest, valued at approximately $150 million. The capital has been strategically deployed across three core areas, including expansion of offline learning centres across high-growth markets in India, continued investment in technology infrastructure and learning experience platforms and strengthening enterprise learning solutions and global certification businesses. A significant portion of the investment has also gone into building deeper industry partnerships, expanding faculty networks, and enhancing career services capabilities to improve learner outcomes at scale.
Over the coming year, as it prepares for IPO, the edtech company will focus on scaling its industry-led higher education institution, strengthening global academic and industry collaborations, and building a practitioner-led learning model that closely integrates education with real-world financial careers. Other key priorities will include strengthening the global certifications portfolio and deepening presence in existing markets through hybrid learning centres.
“Our growth strategy is anchored around depth rather than indiscriminate expansion. We are also investing in employer partnerships to further improve placement velocity and career mobility for learners,” Barshikar said. In FY27, the firm plans to expand its physical learning footprint across multiple Tier 1 and high-potential Tier 2 cities in India. Internationally, it will continue to evaluate selective expansion opportunities through partnerships rather than heavy infrastructure-led entry, ensuring capital-efficient growth.
Sustainable Unit Economics
The edtech startup reported a 16% year-on-year growth in FY25, with Ebitda reaching Rs 14 crore, marking a 100% year-on-year increase from Ebitda of Rs 7 crore in FY24. “This was possible due to our focus on sustainable expansion, strong unit economics, and outcome-led programme delivery across business verticals, driven by diversified revenue streams across individual learners, enterprise clients, and institutional partnerships,” Barshikar said. The firm aims to clock a growth of 30-35% to Rs 330-380 crore in FY27. It also expects a 25-30% growth in users in FY27.
Over the past year, the firm sharpened its focus on programme profitability at a cohort level, capital-efficient expansion, higher learner lifetime value through career progression offerings and strong governance and operational discipline.
AI-Led Roadmap
Imarticus Learning’s product roadmap for the year will focus on AI-led roles across finance, technology, and enterprise functions, cybersecurity and digital risk management programmes, leadership and future-skills training for mid-career professionals and an industry-integrated degree pathway. It is also expanding experiential learning through live projects, simulations, apprenticeships, and embedded industry exposure.
Talking about the increasing competition in the upskilling and professional education segment, Barshikar said, “While new players will continue to enter the market, sustainable differentiation increasingly comes from three factors, including deep industry alignment, credible institutional partnerships and demonstrable career outcomes.”
