Age of perpetual learning
That the edtech sector is a sunrise one with enormous potential has been evident in the way the sector has attracted investment in recent months, despite the occasional hiccup. Already on the rise, the Covid era provided an unprecedented boost as Indians started upskilling as never before. The story for the sector, estimated to be about $2.8 billion and is expected to grow to $10 billion by 2025.
One of the leading players in the space, Jaro Education has recently reported a 100 per cent increase in EBIDTA over 2021-22. It has set a target of Rs200 crore in net booking value (net revenue) for 2023-24, with over 100 per cent y-o-y increase in EBIDTA, informs the company.
“Our primary focus has been to provide a quality education through online and hybrid learning programmes that bridge the gap between industry demands and academic curriculums,” points out Sanjay Salunkhe, founder & managing director, Jaro Education. “Large organisations are also now considering employee upskilling and reskilling a necessity to bridge talent gaps without spending a fortune on new hires.”
To drive the professional growth of the workforce, Jaro Education, founded in 2009, has tied up with premier institutes such as IIM Ahmedabad, IIM Kozhikode, IIT Madras, IIT Delhi, Wharton Interactive and Michigan Ross, among others, to offer over 50+ online programmes that cover a wide range of categories, including analytics and data science, management and leadership, finance, cyber security, and cloud computing, among others for upskilling purposes.
Salunkhe stresses the factors that have made Jaro Education stand out. “Key differentiators for Jaro Education have been our strong industry-academia connect; personalized approach to learning and being at the forefront of leveraging technology to enhance the learning experience for our learners. With these, Jaro Education has transformed the careers of over 300,000 professionals in the last 13+ years through its 50+ online courses for entry to C-Suite-level learners.”
There seem to be clear categories of people who are looking to upscale, says Salunkhe. “In my opinion, individuals who are interested in acquiring new skills or upgrading their existing skills are primarily searching for courses and programmes that can help them stay up-to-date with the constantly evolving job market and emerging industry trends. As we are now in the age of ‘Perpetual Learning’, it is crucial to continuously upskill or reskill ourselves every 1-2 years to avoid becoming obsolete.”
Some of the most popular programmes are those that can equip them with the most current industry-relevant knowledge and expertise in areas like data science, management, strategy, cyber security, digital marketing, IT, leadership, and others, points out Salunkhe. “Also popular are programmes that provide personalized support and guidance, such as access to expert mentors or career counselling services, as well as flexible learning opportunities. Jaro Education has collaborated with Wharton Interactive, an initiative of the Wharton School, with the aim to bring Ivy League interactive learning experience to India.”
Edtech yo-yo
Jaro Education’s approach to expansion has been strategic, with a focus on building a strong foundation and achieving sustainable growth rather than rapid expansion. The company’s emphasis on profitability has been evident since its inception, with a strict cost-benefit analysis approach and focused spending. The company has grown in a structured manner, ensuring robust growth. Jaro Education’s emphasis on providing high-quality programs, career counselling and placement support for career advancement has played a significant role in its success over the past 13 years.
In 2022-23, Jaro Education’s net profit increased by over 100 per cent from Rs6.38 crore to Rs12.78 crore, while the gross fees value rose from Rs200 crore to Rs450 crore. The company aims to achieve this revenue growth through a 108 per cent increase in EBIDTA in 2023-24. Despite global uncertainties and a funding winter that have caused many edtech start-ups to collapse, lay off staff or shut down, Jaro Education’s focussed approach enabled it to maintain positive EBIDTA. Additionally, with the brick-and-mortar education ecosystem now back in action, Jaro Education is poised to continue its growth trajectory.
Personal growth
Building trust and being authentic are crucial factors for success in the edtech sector. When people choose to invest their time and money in education, they want to be confident that they are receiving value for their investment, says Salunkhe. “At Jaro Education, we prioritise transparency and honesty in all our interactions with students and potential learners. We provide accurate and complete information about our programmes, and we actively seek feedback from students to continuously improve our offerings. Delivering quality education is another important factor that contributes to building trust and loyalty among learners. We collaborate with top institutes and industry experts to design and deliver our programmes, ensuring that our students receive a rigorous and comprehensive education that prepares them for success in their careers.”
Salunkhe points out that in addition to delivering quality education, nurturing leads and building relationships with learners is critical for the edtech sector. “We recognise that each student has unique needs and goals, and we strive to provide personalised support and guidance throughout their educational journey. Our counsellors work closely with students to understand their goals and interests and help them select the programs that are best suited to their needs. It is also important for edtech companies to be responsive and adaptable to the changing needs of learners. We are constantly monitoring trends and emerging technologies in the industry, and we are committed to evolving our programmes and services to meet the evolving needs of our students. By staying connected to our learners and the broader community, we can continue to deliver education that empowers individuals and drives success in their personal and professional lives” – an alluring promise that is only likely to get more attractive.