Simplilearn reports 50 percent YoY growth; losses down from 35 percent to 29 percent

Simplilearn has reported a 50 percent YoY revenue growth, from INR 465 cr in FY 22 to INR 701 cr in FY 23. At the forefront of this is Simplilearn's consumer vertical fueled by university partnerships and increasing demand for programs in Gen AI, Data Science, Cloud, AI&ML, and Digital Marketing domains.   In the current fiscal year, Simplilearn has acquired Fullstack Academy, a U.S.-based bootcamp education company. Lt had a fundraising round from a consortium led by GSV Ventures, a venture capital firm.

Simplilearn offers digital skilling programs for professionals, enabling learners to upskill and get certified in fast-growing digital domains. Simplilearn creates these programs in collaboration with companies such as IBM, Microsoft, AWS, Google, and renowned educational institutions such as Caltech CTME, MIT Schwarzman College of Computing, UMass Amherst, and the Isenberg School of Management, Purdue University, Wharton Online, IIT Roorkee, and IIT Kanpur enabling learners to get the best of both academia and industry.   Krishna Kumar, Founder, and CEO, of Simplilearn stated, “In the dynamic landscape of today's market, Simplilearn steadfastly charts a course for success, dedicated to empowering professionals to upskill and thrive in the digital economy. Our strategic efforts, harmonizing the realms of academia and industry, deliver unparalleled hands-on learning experiences, evident in our remarkable year-over-year growth of 50 percent. Our commitment to excellence is further underscored by optimizing our losses from 35 percent to 29 percent.

As we progress, our strategic focus includes enhancing our footprint in the US and intensifying our growth efforts in the APAC markets. Strengthening our B2B initiatives, we also remain receptive to acquisitions that align seamlessly with our business values, ensuring that our trajectory reflects both sustainability and strategic foresight.”