The company said that it will be hiring people for its operations, business-to-business (B2B), teachers, and sales teams. According to Scaler, the recruiting drive will result in a 35 percent increase in the company’s current workforce of over 1,800 employees.
Tiger Global-backed edtech startup Scaler said on September 8 that it will hire more than 600 workers by December 2022.
In a statement, the firm said that it will be hiring members of the sales, business-to-business (B2B), instructors, and operations teams. According to Scaler, the recruiting drive will result in a 35 percent increase in the company’s current workforce of over 1,800 employees.
The decision is made at a difficult time for startups, as the ecosystem is struggling with a cash deficit brought on by a downturn in global financial markets, which is causing companies to lay off employees, eliminate non-core verticals, and cut spending on advertising and marketing.
Businesses in the online education sector seem to be suffering more. Following a spike in demand during the Covid-caused periodic lockdowns when kids went back to regular educational settings, these businesses are now experiencing a sharp fall in demand.
Approximately 6,000 employees of edtech companies, including unicorns like Byju’s, Vedantu, and Unacademy, among others, have been let go since the start of 2022.
Scaler contends that there was tremendous development notwithstanding the slump.
Abhimanyu Saxena, co-founder of Scaler and Interviewbit, stated, “With our recent growth to the US, we are aiming for a $17 million MRR (monthly run rate) in December 2022 with an ARR of $200 million.” “The rapid development we have seen over the last three years has led to our recruitment goals.
According to the company’s statement, it currently enrolls more than 2,500 new students per month. The edtech company added that its current cash flow and EBITDA are both positive. EBITDA stands for earnings before interest, taxes, depreciation, and amortization.
Since 2019, Scaler has onboarded more than 25,000 students, claims Saxena.
By 2026, India may see a 14–19 lakh technical deficit, according to studies. In order to solve this shortage, Saxena added, “We are strengthening our teams and support to match the rising demand for competent IT workers and to sustain the trend of “Impact-driven” upskilling.”
According to Scaler, the company’s ARR was $100 million as of July 2022, and by December 2023, it intends to reach $1 billion.
