BENGALURU : Ed-tech startup Scaler has laid off about 150 employees, making up 10% of its workforce, as part of a restructuring initiative, according to two people aware of the development.
A majority of those affected were from the sales and marketing teams, said one of the two people quoted above.
In response to Mint’s questions, Abhimanyu Saxena, co-founder of Scaler and InterviewBit, confirmed the development.
“At Scaler, we have always believed that education is a primary human need, even more so with technical education. It is imperative that we look at how we operate for long-term growth and sustainability. As part of this, we have designed a new way of working to achieve sustainable growth, while delivering the best learning experience and outcomes for our pupils – something we have always been committed to,” he said.
“As part of this restructuring, we identified a number of functions and roles, mainly in marketing and sales, that we had to separate. I want to reiterate that this was not a performance-driven decision, and to ensure that everyone affected is provided. with necessary support to ensure a smooth transition.”
“Our employees play a strategic role in our mission of change for the Indian technology ecosystem through our various education solutions, and we will continue to invest in their growth as we work together to transform the sector,” he added.
Established in 2019, Scaler offers online development courses to technology professionals. Its investors include Tiger Global, Lightrock India, Surge and Peak XV Partners.
The startup’s losses increased by 90% from ₹174 crore in FY22 to ₹330 crore in FY23, while its revenue increased 388% from ₹65 crores to ₹317 crores during the period under consideration.
The development comes at a time when ed-tech platforms are grappling with growth challenges in the post-covid era, with learners increasingly returning to offline arrangements. For example, Unacademy has laid off a large number of employees in the past two years, while PhysicsWallah laid off around 150 employees last November.
News website Moneycontrol first reported the development.
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Published: 10 Apr 2024, 16:31 IST