Great Learning Records 23% Growth, Crosses $100M Revenue Milestone in FY24
Great Learning, an edtech firm, achieved a 23% revenue increase in FY24, crossing $118 million. Despite challenges in the Indian edtech sector, Great Learning’s upskilling courses in partnership with renowned institutions have sustained demand. This growth follows its return to independence after BYJU'S relinquished control. Positioned against competitors, Great Learning focuses on expanding globally and meeting the demand for digital skills.
Arun
Edtech startup Great Learning has announced a strong financial performance for FY24, achieving $118 million in revenue and marking a 23% increase over the previous fiscal year. This milestone reinforces Great Learning’s resilience and growth amid a downturn in India’s edtech sector, with many companies struggling to stay profitable.
Originally acquired by BYJU’S in 2021 for $600 million, Great Learning returned to independent ownership after BYJU’S lenders took control in October 2023. Despite the industry-wide challenges, the Bengaluru-based edtech leader has managed to maintain profitability and positive EBITDA, though it did not disclose detailed net profit figures for the year.
Founded by Mohan Lakhamraju, Arjun Nair, and Hari Krishnan Nair in 2013, Great Learning has built a strong reputation for upskilling professionals through online courses in data science, artificial intelligence, and digital marketing. These programs are developed in partnership with esteemed institutions such as IIT Bombay, Duke University, and Johns Hopkins University, adding significant credibility to its offerings.
Mohan Lakhamraju, Great Learning's CEO, highlighted the company’s resilience, attributing its growth to sustained demand for skill-building programs despite “tough macroeconomic conditions.” He emphasized that the company remains committed to helping professionals worldwide acquire new-age skills for success in the digital economy.
Great Learning’s solid FY24 performance stands out in contrast to other Indian edtech giants like Unacademy and Aakash, which have downsized in recent years as they grapple with profitability issues. Meanwhile, companies like Physics Wallah and upGrad have attracted fresh funding, signaling investor confidence in profitable and sustainable edtech ventures.
With plans to expand its upskilling solutions and international presence, Great Learning aims to solidify its standing as a global leader in the digital education space, continuing to address the ever-growing need for skilled professionals in the age of digital transformation.
