Ed-tech companies to go on hiring spree

Top ed-tech firms are aggressively expanding operations through the organic route as well as acquisitions and are hiring employees in thousands to support the growth.Byju's is looking to hire 4,000 people over the next few months. Simplilearn plans to add 5,000 people to its headcount, while upGrad is looking at recruiting 2,500 in the next couple of years. Vedantu is aiming to induct 1,000 more in the next few months.Most hiring for these startups will be in sales, marketing, content, design and technical domains.Companies in education technology have raised huge funds in recent months from marquee investors and some are planning initial public offering in the coming years.For upGrad, which recently joined the unicorn club by raising funds at a valuation of over $1.2 billion, that timeline to launch its IPO is 24-48 months, cofounder Mayank Kumar said. "But the way markets are going, it could get accelerated," he told ET. UpGrad has a headcount of 2,500.The largest ed-tech firm, Byju's, hasn't fixed a timeframe yet to hit the public market, chief people officer Pravin Prakash said. "We do not have an exact timeline in mind for an IPO but creating a large public ed-tech firm out of India is a big aspiration and will be a milestone for us," he said.Byju's is looking to hire skilled tech and product professionals in AI, machine learning, data science, and analytics domains. It is also on a look-out for top talent to spearhead its various initiatives.UpGrad, which raised $185 million of external funds from Temasek, IFC and IIFL, is going to focus on using the proceeds to expand in India and abroad. "M&A will be another area where we will be deploying funds," said Kumar of upGrad.The 7,000-employee strong Vedantu, which has raised about $200 million from investors like Tiger Global and Accel Partners, is looking to hire 1,000 people in coming months. Vedantu is also keen on companies that would help in either enhancing student experience or increasing market presence for buy-outs. "When we find one, we will make a build vs buy decision. We will also prioritise the quality of the team and founders," chief executive Vamsi Krishna said.Also Read: Unicorns, soonicorns on a hiring spree as Covid-19 accelerates digital adoption

from Economic Times https://ift.tt/2U5x6Vf