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Scaler Academy posts five-fold rise in FY23 revenue to Rs 317 crore

Economic Times · 8m

Scaler Academy, an Indian education technology company, has reported a nearly fivefold increase in operational revenue, reaching INR 316.7 crore in the financial year ending March 2023. Despite this growth, the company's losses nearly doubled to INR 330.3 crore due to increased expenses, particularly in employee costs and other expenses. Scaler Academy recently launched a four-year undergraduate computer science program, acquired education platform Pepcoding, achieved positive cash flow in 2023, and partnered with National Skill Development Corporation. The company aims to maintain profitability and achieve annual profitability in 2024. Scaler Academy was launched in 2019 and has previously raised $55 million in funding, reaching a valuation of $710 million.