Temasek-backed upGrad is entering B2B advisory services and corporate upskilling as it broadens its portfolio ahead of a planned 2027 listing. According to reports from Mint, the edtech company co-founded by Ronnie Screwvala is pivoting towards business-to-business services, offering corporate upskilling and learning and development advisory services as businesses seek to keep employees up to date with rapidly evolving skill requirements. The company has begun hiring senior executives for the new team, though the formal launch timeline remains unconfirmed.
The company's B2B enterprise business is growing annually at a 40% CAGR and upGrad is targeting ₹1,000 crore revenue from its enterprise business over the next two years. As reported by Mint, the company already operates deep skilling, workforce development, AI, and placement businesses, making the addition of advisory services a natural expansion. Founded in 2015, upGrad offers online upskilling programs in AI, management, and machine learning, along with study abroad programmes through partnerships with universities in Germany, Australia, Canada and other countries.
The strategic pivot follows upGrad's $245 million acquisition of Unacademy earlier this year, seeking to expand aggressively ahead of its planned stock-market listing. According to Mint, the company has raised over $760 million across multiple funding rounds since inception, reaching a valuation of approximately $1.7 billion as of May this year. The company's rival PhysicsWallah listed in November last year and currently commands a market capitalisation of ₹36,841.26 crore as of Tuesday.
While upGrad has turned operationally profitable, posting a gross revenue of ₹1,650 crore in fiscal year 2025 (FY25), analysts note challenges in the B2B segment. As reported by Mint, the new venture will compete with established players like Eruditus, Simplilearn, and LinkedIn, along with universities that have tie-ups with corporates. Narayanan Ramaswamy from KPMG noted that B2B contracts are usually longer-term compared to B2C, but the company will need to offer compelling price points and quality to attract corporate clients.
Some of upGrad's marquee investors include International Finance Corporation and 360 One. In May, the company raised ₹360 crore from existing backers. The company's B2B business, upGrad Enterprise, sells skilling and training programmes to companies, helping them address workforce gaps through courses tailored to business needs. Despite operational profitability, the company has faced challenges in scaling its business, as reported by Mint.
