Tiger Global-backed upskilling platform Scaler said it expects to be profitable by the end of the year. The company has been cash flow positive since October 2022. This comes at a time when edtech start-ups have been in the spotlight because of their growing losses.

“Post the phenomenal growth Scaler saw in 2021 and 2022, the edtech brand is now focusing on maintaining its top line and profitability. Scaler has been EBITA positive over the last few months and is hoping to hit annual profitable figures by the end of the year,” said Scaler co-founder Abhimanyu Saxena.

The Bengaluru-based company is targeting $50 million in profits by the end of FY24, while currently, its monthly accrued revenue run rate is about ₹50- 60 crore. “We are focused on profitability and targeting 50 million in profits by end of 2024, topline would be decided by that. As of today, the monthly accrued revenue is already about ₹50 or 60 crore,” he said.

The online upskilling platform of Scaler is enrolling 30,000 students per year in its skilling program and plans to increase it, but in a selective manner. “We enroll close to 2,000 students every month, and do not intend to increase that massively in the next one year. Our enrollment is selective in nature, and one has to clear an entrance test, to start the programme. The reason for that is as we teach technology, we do require certain starting point for that. We might even want to get a little more selective than we are today to ensure better quality of intake,” said Saxena.

Hike in salaries

He said that that over the last three years, professionals after upskilling through Scaler programmes, have witnessed over a 126 per cent increase in salaries.

The company has recently forayed into undergraduate education by opening an offline institute. The offline institute, called Scaler School of Technology, will be located in Bengaluru and will offer a four-year residential undergraduate programme in computer science, which will be recognised by the UGC (University Grants Commission) through a partner institute, BITS Pilani. It enrolled about 200 students in the first year.

Scaler, an online tech education platform launched in 2019 by InterviewBit Technologies, was last valued at $710 million in February 2022.