Business Wire India
- The company is now targeting a revenue of 150cr. in FY ‘23-’24 with an ambition to increase its revenue 5 fold in the next three years.
- As an outcome-based education institute, Masai works on a pay-after-placement model, where over 9000+ students have started their tech-skilling journey at zero upfront fees.
Closing the quarter on a high, Masai School, the world’s fastest-growing JobTech platform, became the first outcome-based education institute in the world to place over 200 students in one month. The skilling institute has now placed over 3000 students in over 1000 companies in India, which is expected to 3X their revenue in this financial year over FY ‘21-22, driven by a 300% increase in student placements.
Despite a “Funding Winter” and recessionary conditions in the global tech market, this stand out performance comes at the back of Masai closing its Series B funding round in November ‘22. The company is now targeting a revenue of 150cr. in FY ‘23-’24 with an ambition to increase its revenue 5 fold in the next three years. To achieve this, despite start-ups getting leaner to save costs in the education sector, Masai announced plans to further expand their head-count at the back of a 110% increase in the workforce in FY ‘22.
“We had set ambitious targets for this financial year, especially keeping in mind the macroeconomic circumstances the world finds itself in. I am happy to report that our business fundamentals are strong which has led to Masai surpassing category expectations. Investor and consumer trust continues to remain high and our key business objective this year is to become the first cash-flow positive outcome-based institute in the world,” commented Prateek Shukla, founder & CEO of Masai.
As an outcome-based education institute, Masai works on a pay-after-placement model, where over 9000+ students have started their tech-skilling journey at zero upfront fee, and pay the institute only after they start earning 5 lakhs per annum or more. If Masai is unable to place them within a year, the enrolled students don’t pay any tuition fees to the institute.
Speaking of Masai’s unconventional business model, Prateek added, “What makes( our business model) unique is the fact that it delivers value not just to our students but more importantly to our hiring partners by connecting them with the industry standard job-ready talent. The Unemployability Crisis amongst college graduates is a decade old problem and has reached an inflection point where we will see companies looking to hire on demonstrable skills, rather than just a degree mentioned on a CV.”
Masai boasts of a 91% placement success rate with an average starting salary of 7LPA, considerably more than the median income of college graduates in the same field. Masai now caters to hiring mandates from over 4000+ top MNCs, global tech giants and Indian start-ups.
“Our next phase of Masai’s growth is going to be built on the foundation of Generative AI. This is a watershed moment, especially for software development, and developers who are not learning to integrate tools like ChatGPT in their work process are going to be obsolete. This is going to become a differential between developers skilled by Masai, and engineers that are graduating on outdated curriculum and technologies in traditional higher education institutions,” concluded Prateek. 
