Edtech firms on a hiring spree as they draw up expansion plans
BJYU’S is looking to hire close to 4,000 people over the coming few months.
Top edtech firms are on an expansion spree right now. They are not only expanding operations on an aggressive scale but are also acquiring talent in large numbers to support this growth.
BJYU’S is looking to hire close to 4,000 people over the coming few months. Simplilearn, upGrad, and Vedantu are planning to add 5,000, 2,500 and 1,000 employees, respectively.
Most of this hiring will be in the domains of technical, marketing, design, content and sales.
Backed by funding
Over the last few months, many firms in the edtech space have received huge funding from marquee investors and some are also planning to go public in near future.
upGrad, one of the recent entrants to the unicorn club, is valued at $1.2 billion and expects to launch its IPO over the next 2-4 years.
India’s largest edtech firm BYJU’S still doesn’t have a time-frame fixed for its IPO plans. It is currently looking at hiring skilled professionals in domains like artificial intelligence and machine learning (AI-ML), data science and analytics.
In addition to this, the company is also looking at sourcing top talent for spearheading other initiatives. It may be noted here that BYJU’S has been on an acquisition spree of late.
upGrad recently raised funding to the tune of $185 million from Temasek, IFC and IIFL is focusing on expanding in India and abroad. It plans on using the proceeds for that. In addition, it has allocated $250 million for mergers and acquisitions.
Vedantu has raised close to $200 million from investing firms like Tiger Global and Accel Partners. It is planning on hiring close to 1,000 more people in the near future. It currently has 7,000 people on board.