UpGrad, founded in 2015 and headquartered in Mumbai, has emerged as a leading force in online higher education. With a mission to bridge the gap between academic learning and industry requirements, UpGrad empowers professionals and students with future-ready skills. Partnering with global universities and corporations, it offers career-focused programs in data science, management, technology, and more. With a valuation of $2.25 billion and over 7 million learners across 100+ countries, UpGrad is redefining how India and the world perceive digital education.
Founders and Leadership Team
UpGrad was co-founded by four visionaries: Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh.
- Ronnie Screwvala, Chairman of UpGrad, is a serial entrepreneur and media icon who founded UTV, Unilazer Ventures, and RSVP Movies.
- Mayank Kumar, Managing Director, brings years of experience from Bertelsmann and education consulting.
- Phalgun Kompalli, co-founder and head of sales, was a principal at The Parthenon Group.
- Ravijot Chugh, leads academics and content design, having previously worked with Housing.com and co-founded 36hrs Travel.
UpGrad Startup Story
The inspiration behind UpGrad stemmed from a critical gap in India’s higher education system — a lack of industry-relevant skills. The founders envisioned a platform that combines top-tier academic knowledge with practical job-oriented training. Launched in 2015, UpGrad started with a few online courses and soon scaled through partnerships with premier universities, a growing learner base, and deep integration with corporate upskilling programs.
Programs and Courses Offered
UpGrad offers more than 100 programs across domains like:
- Data Science & Machine Learning
- Business Management
- Software Development
- Digital Marketing
- Cybersecurity
- Executive MBAs and Global MBAs Courses are developed in collaboration with top institutions like IIIT-Bangalore, Deakin University, MICA, and others. Features include one-on-one mentoring, live lectures, career support, and peer learning networks.
Business Model and Revenue Growth
UpGrad operates on a B2C and B2B hybrid model. The core revenue stream comes from student enrollment fees. For select courses, 50% of the fee is collected only upon successful job placement—a rare and bold move in India’s EdTech space. In FY 2024, UpGrad reported ₹1,876 crore in gross revenue, with a 25% YoY growth. EBITDA losses were significantly reduced to ₹285 crore, showing signs of a sustainable business model.
Funding and Valuation
UpGrad has raised a total of $668.2 million across 7 funding rounds. Notable investments include:
- $225M in June 2022 (Lupa Systems, ETS)
- $210M in August 2022 (Bodhi Tree, ETS Global)
- $60M in October 2024 (Temasek) As of January 2025, UpGrad is valued at $2.25 billion, solidifying its position as a top EdTech unicorn.
Strategic Acquisitions
To scale globally, UpGrad has acquired 16 companies including:
- KnowledgeHut – professional training
- Talentedge – executive education
- Global Study Partners (GSP) – international student recruitment These moves have helped UpGrad enter new markets and broaden its learning solutions portfolio.
Global Reach and Impact
UpGrad’s reach is global:
- 7 million+ learners
- 100+ countries
- 45,000+ paid learners
- 10,000+ graduates (2022)
- 300+ university collaborations
- 30,000+ corporate partnerships
- Placements with 10,000+ companies UpGrad is now one of the largest integrated learning platforms in the world.
Awards and Achievements
- Government of India’s ‘Startup India’ Education Partner (2016)
- Achiever of the Year by BW Disrupt (2017)
- Fast Company’s Top 10 Most Innovative Companies in India (2017)
- LinkedIn’s Top 25 Startups (2018)
- Brandon Hall Awards for Excellence in Learning (2021 & 2022)
Future Plans
UpGrad aims to:
- Expand globally with 100+ offline centers
- Target 5 million alumni by 2025
- Add programs in cybersecurity and cloud computing
- Prepare for a public listing (IPO) These initiatives will enhance access, improve learner outcomes, and position UpGrad as a lifelong learning companion worldwide.
Wrapping Up
UpGrad’s rise from a Mumbai-based startup to a global EdTech leader is a testament to vision, execution, and innovation. By combining academic excellence with industry alignment, it has helped millions upskill and grow professionally. As it prepares for its next phase of global expansion and a possible IPO, UpGrad stands as a beacon of what digital education can achieve in transforming lives at scale.
Frequently Asked Questions (FAQs)
Q1. What is the primary focus of UpGrad?
UpGrad focuses on delivering industry-relevant, online higher education programs designed to help professionals and students upskill and advance their careers.
Q2. Who are the founders of UpGrad?
UpGrad was founded by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh in 2015.
Q3. How does UpGrad make money?
UpGrad generates revenue through program fees from learners and enterprise clients. A unique feature is deferred payment for some programs, where learners pay part of the fee only after job placement.
Q4. What are some of UpGrad’s popular programs?
Popular programs include MBA, Data Science, Software Development, Digital Marketing, and Machine Learning, offered in collaboration with global universities.
Q5. What are UpGrad’s future goals?
UpGrad plans to go public (IPO), expand into cybersecurity and cloud computing, launch 100 offline centers, and reach 5 million alumni by 2025.