India’s foremost online higher education platform upGrad announced the acquisition of Centum Learning, Delhi-based new-age corporate training solutions provider. As per the agreement, Centum Learning will continue to operate independently under Sanjay Bahl, MD and CEO of Centum Learning, said in a statement.
“upGrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLongLearning ecosystem for our stakeholders,” said Mayank Kumar, Co-founder and MD, upGrad.
In August 2022, upGrad raised $210 million in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors, and others with plans to hire 2,800 employees over three months. In July, upGrad acquired online learning institution Harappa Education for approx $38 million.
The upGrad said it is on the way to record annual gross revenue of $400-500 million during FY-2023, out of which approx 45% of total revenue will be realized from its own-branded online courses. The platform has a learner base of over 3 million across more than 100 countries, over 300 university partners, and a client base of 1,000 companies.
Centum has been enabling 360-degree learning solutions right from entry-level professionals to mid-level leaders with direct and measurable business impacts.
With over 3,000 L&D specialists, Centum Learning has trained over 2 million people, empowering 400+ corporates across India and Africa.
“Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results,” said Sanjay Bahl, MD, and CEO of Centum Learning.