Over a decade, online executive-education platform Eruditus has grown to a valuation of $3.2 billion amid MOOC (massive open online courses) platforms scaling up quickly.
The edtech unicorn calls its operating model ‘SPOC’ (small open private courses) that is focused on completion of courses in its learner base.
“Our model had the inherent advantage to go global. So, we leveraged that,” Ashwin Damera, CEO of Eruditus Learning Solutions, tells YourStory.
Eruditus is on its way to gross $505 million in bookings for fiscal year ended June 2022. This organic growth comes on the back of 3 million registered learners — most of whom are from outside India.
More than 25 percent of its learner-enrolments in FY 2021 was from the US, followed by 19 percent from India, 16 percent from Latin America, and 14 percent from Europe.
The edtech unicorn now has a massive war chest for mergers and acquisitions (M&A). Last week, Emeritus, which is a part of Eruditus, got $350 million in debt-financing from CPP Investments for M&A over the next five years.
But how did Eruditus build its global learner base? Find out here.
Editor’s Pick: BoAt’s house of brands strategy
In January 2022, electronics brand boAt’s parent company — Imagine Marketing — filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 2,000 crore from the public markets.
Vivek Gambhir, CEO of boAt, talks about the company’s expansion plans, house of brands strategy and why it feels the need to diversify its supply chain. Read more.
In supply chain financing, Raja Debnath noticed that platforms did not provide end-to-end solutions for digital lending.
He started working with Gautam Udani, who had founded Veefin (formerly known as Infini Systems) specialised in digital transformation with data processing offerings. Joining the company as the co-founder, Raja led the team to work on technology suites for the banking, financial services and insurance (BFSI) industry. Read more.
Avneet Bhatia is a strong believer in healing through yoga and Ayurveda, and wanted to bring the benefits of natural therapies to more people. This led her to found NatureFit in December 2021.
The app-based digital platform guides users towards 15 natural therapies, including Ayurveda, Homeopathy, Yoga, Dieticians, Physiotherapy, and Psychology, among others. Read more.
YS Design Team
Before you go, stay inspired with…
Aloke Bajpai, Co-founder and CEO, ixigo.
“It [company’s culture] does start at hiring with the right attributes. We hire more for attitude than for skill.”
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