Edtech Simplilearn saw a revenue of Rs 700.63 in FY23, a 1.4X growth as compared to the previous fiscal year. The same year saw over Rs 680 crore coming in from operations. In FY22, the company recorded a revenue of Rs 492.85 crore.
Established by Kashyap Dalal, Simplilearn is a digital upskilling platform that provides training in cyber security, cloud computing, project management, digital marketing, and data science, among others. Additionally, it offers post graduate programs, master’s programs, and certification courses. The courses are designed by over 2000 industry and academic experts. It is an online bootcamp providing digital skills training to help individuals acquire the skills they need to thrive in the digital economy.
The 2010 established company saw a 1.6X spike in its losses to Rs 244.2 crore as compared to the previous fiscal year’s Rs 149.9 crore. Its EBITDA margin stands at a negative 28.7% while the ROCE is -72.3%. Previously in FY22, it has seen losses amounting to Rs 150 crore, a 26X spike as compared to its preceding year.
The edtech’s expenses for the fiscal year ending March 2023 amounted to Rs 944.4 crore, a spike of over 47% as compared to FY22’s Rs 641.7 crore. In the fiscal year ending March 2023, costs for advertising and promotions and employee benefits lead the list. The company spent over Rs 300 crore and a little of Rs 280 crore respectively of the two segments.
The edtech has raised a total of Rs 624.6 crore over 9 funding rounds since inception. Its latest Series E round brought in over Rs 370 crore. The round held on November 2022 was led by GSV Ventures. The likes of DisruptAD, ADQ, Clal Insurance also participated in the round.
Post the infusion of the latest round, Simplilearn’s investors Blackstone and GSV Ventures holds over 60% and close to 7% of the company shares, while ADQ holds less than 1% of the company.
The over 10-year-old company is up against the likes of Imarticus Learning, TokSkill, Spark Studio, and upGrad.