Bengaluru-based internet company Edureka (Brain4ce Education Solutions Private Limited) has emerged as the fastest growing tech company in India with a 2768 % revenue growth over the last three years, and has been ranked No 1 on the Deloitte Technology Fast 50 India 2014, a ranking of the 50 fastest growing technology companies in India.Rankings are based on percentage revenue growth over three years. The report also said that Bengaluru continues to be the hub for technology companies, with 17 of the top 50 companies based out of India’s IT capital and five of them in the top 10.
Edureka’s CEO & Co-Founder, Lovleen Bhatia, credited the innovative course delivery model, professional relationship with their customers and a dedicated and diligent team with the company’s 2768 percent revenue growth over the past three years.
The company was started in 2011 by Lovleen Bhatia and Kapil Tyagi with an initial capital of INR 1.5 CR. The company recorded a turnover of INR 25 lakh in its first year and is said to have recorded a turn over of INR 30 CR for the current year. Edureka started its journey with a pilot project by reaching out to 60 students of the ABES Engineering College in Ghaziabad, in the summer of 2011. The company continuously monitors progress of its trainings and has seen that there is a huge improvement not only in practical technical skills of the participants, but also in their interpersonal, team and entrepreneurial skills post Edureka’s trainings.
Edureka has very high completion rates which are 30-40 times higher than those reported by its competitors. That said, identifying the right courses and marketing them to the right target group — college freshers, mid-career professionals and senior professionals — is something that Edureka keeps working on constantly.
For example, the company had introduced a few niche technology courses on Big Data, Analytics and Cloud computing in early 2013 and they were very well received by professionals across the globe. Edureka has one more advantage over its global competitors — cost. Their fees for courses range from $200 to $500, which is barely 20-25% of what similar courses from international companies cost. The support model around these courses has often resulted in students enrolling in multiple courses after completing their first course with Edureka.
The company has already expanded internationally.Now, the US, UK, Australia, Singapore and the Middle East contribute almost 65% of their overall revenues.They also have a substantial base in Nigeria, Madagascar, Turkey, Poland, France, Germany, Spain and a few Latin American countries. They are soon planning to introduce 20 more courses to their existing 12 courses, across technical and non-technical subjects, and aims to touch the Rs 100 crore mark in the next 24-30 months.