Edtech firm Eupheus Learning expects to more than Double its Revenue this Fiscal to Rs 300 crore on the back of schools opening up and their traction towards technology, a top company official said.
The company is in process of expanding its team size to 600 people from 450 at present to cater to its growth requirement, a statement said.
Speaking about the hiring plans, Amit Kapoor, Co-founder and Director, Eupheus Learning mentioned, ”We have 7,500 schools as our users. This will move to 12,000 schools by March. With the opening up of schools, students are not going at a fast rate on other online platforms but we see energy has come back for platforms like us. We did Rs 140 crore in the financial year 2022. This will become Rs 300 crore by March.”
Eupheus Learning provides a curriculum in digital format along with supplemental modules. In September 2021, the company acquired ClassKlap which provides school-based personalized curriculum programs. It acquired B2B edtech firm SchoolMitra which provides a software-as-a-service platform to enable schools to manage their day-to-day operations, both administrative and academic, the statement said.
”We see a large opportunity and latent demand from the schools to innovate. We are now providing schools the option to pick and choose any of the stacks that we have. In five years, we have onboarded 7,500 schools, which include 6,000 premium schools that charge over Rs 50,000 annual fees and the rest are English medium private affordable schools with annual fees in the range of Rs 20,000 to Rs 50,000. Additionally, there are around 24,000 premium schools in India and the company has 25 percent market share,” said Amit Kapoor.
”We are now doubling our sales team. In March 2022, we had a total of 300 people which has now reached to 450, which includes 290 people in sales. We are now in the process of ramping up our team size to 600 by November. This will include 450 people in sales only. Our intention is to reach out to the maximum number of schools. We have had a conversion rate of 50 percent which is the highest in the industry,” Kapoor added.
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