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upGrad
upGrad was founded on March 23, 2015, by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli.
upGrad
upGrad was founded on March 23, 2015, by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli. Screwvala, a media entrepreneur, previously built and sold UTV to Disney; Mayank Kumar had a background in education; Kompalli was a technology executive. The company launched its first program, a startup-focused course, and soon after partnered with IIIT Bangalore to offer a data science program (per firm website). The firm's strategy centers on online higher education and professional upskilling. It offers programs across AI, data science, machine learning, MBA, marketing, management, and education, ranging from certificate courses to master's degrees and doctorates. In addition to direct-to-consumer courses, upGrad operates subsidiaries including upGrad Enterprise (corporate training), upGrad Rekrut (hiring solutions), and upGrad Study Abroad. Confirmed university partners include IIIT Bangalore, IIM Kozhikode, Liverpool John Moores University, Golden Gate University, and Northeastern University. The firm expanded internationally to North America, Europe, Middle East, and Asia Pacific (per firm website). upGrad reached 1 million registered learners by 2019 and crossed 2 million by 2023. The company attained unicorn status in 2021 with a $1.2 billion valuation (per public reports). It completed three mergers and acquisitions, including the acquisition of KnowledgeHut, a project management certification provider. As of 2023, the firm served learners from over 70 nations and had over 1,400 hiring partners (per firm website). upGrad is structurally distinct from a family office; it is a for-profit edtech company. Its ownership includes co-founders and external investors. The firm's model relies on university partnerships rather than proprietary content creation, a key difference from competitors building in-house curricula.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Mumbai, Maharashtra, India
Principals
Ronnie Screwvala
Co-founder
Mayank Kumar
Co-founder
Phalgun Kompalli
Co-founder
Sector focus
Frequently asked questions
Who controls investment decisions at upGrad?
upGrad is a for-profit company, not a family office. Strategic decisions are made by co-founders Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli. The firm has disclosed outside investors, but specific governance structures are not public (per firm website).
What is the relationship between upGrad and the universities it partners with?
upGrad partners with universities to design and deliver online degree and certificate programs. Partner institutions include IIIT Bangalore, IIM Kozhikode, Liverpool John Moores University, and Northeastern University. The firm provides technology, marketing, and career support; the university provides accreditation and curriculum oversight (per firm website).
Does upGrad invest in other companies or funds?
upGrad has completed three acquisitions, but the details of any investment portfolio beyond its own subsidiaries are not publicly disclosed. The firm may hold cash or strategic reserves, but no investment arm outside of its core business is identified (per firm website).
What is upGrad's business model?
upGrad sells online courses and degree programs to individual learners. Revenue comes from tuition fees, with additional income from corporate training (upGrad Enterprise) and study abroad placements. The firm uses partnerships with universities to create content and awards degrees (per firm website).
Where does the underlying wealth come from?
upGrad is a for-profit edtech company, not a family office managing personal wealth. Its capital came from co-founders and external venture investors. The fortune of Ronnie Screwvala, who built and sold UTV, is separate from the company's balance sheet (per public records).
Is upGrad structured as a single family office?
No. upGrad is a private limited company operating an online education business. It is not structured as a family office, and its capital is deployed into its own operations rather than external investments or wealth management (per firm website).
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