NEW DELHI: Mumbai-based edtech startup, Lido Learning has recorded a 56% monthly growth in revenue over the past three months reaching a $20 million run rate.
The company has projected a $100 million run rate by end of this year. “Our core focus has always been to empower students to discover their passions and master real-world application of their education,” said Sahil Sheth, founder and CEO at Lido Learning.
“The steady growth in business is a powerful indicator that there is a need for premium live classes like ours, especially given that the formal education sector is struggling to adapt to a digital environment.”
Lido Learning has recently added 1,000 new personnel to its employee base to keep up with the rapidly growing demand of its online classes and improve customer experience, said the company.
Over half of the new hires have joined the platform’s tutor team, while the other half has been dedicated to sales and customer support staff, in addition to a few niche roles.
In 2020, Lido Learning launched Headstart, an integrated course for students from KG to Class 4, to strengthen their learning foundations through english, maths and coding.
In 2021 the startup went international, opening up to students in UAE, Qatar, and Saudi Arabia.