Edtech start-up Scaler has announced ten days of paid time off for its employees at the end of the year. The company is rolling out the ‘gratitude leaves’ from December 21 to January 1 as it has been able to end the year on a profitable and rewarding note.
The start-up which employs 2,200 people announced a 2,500 per cent growth in its revenues in FY21 compared to FY20 with an annual revenue rate of $110 million in August.
Commenting on this move, Abhimanyu Saxena, the start-up’s co-founder, said, “Our talented workforce has played a critical role in running a cash flow-positive business, helping the company achieve a year-on-year growth of over 350 per cent and a sustained month-on-month revenue growth of 15 per cent. Having achieved these milestones, we want to allow our employees the time to cherish and benefit from their growth journey with us.”
Saxena said that the company wants to focus on fostering employee productivity, and well-being ensuring that their mental and physical healthcare is taken care of.
This year has been a tough year for the Indian start-ups, including those in the edtech sector. Several start-ups like BYJU’s, Vedantu, and Unacademy have laid off a large number of people amid the “funding winter.”
Even Roonie Screwvala-backed upGrad saw its losses widening by 3x despite its revenues doubling to more than Rs 600 crore.
Scaler, whose parent company is Interviewbit, was launched in 2019 by Saxena and Anshuman Singh, and is a platform that upskills students and IT professionals, mentors them to crack the best opportunities across the software industry. It has acquired three start-ups till now including AppliedRoots, Coding Minutes and Coding Elements.
The company also raised $55 million in February this year in a round led by Lightrock.
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