American online learning platform Skillshare has announced its foray into India’s booming EdTech market. It has raised more than $108 million in venture funding from global investors for their expansion plans globally. Skillshare also aims to tap into the demand for creative educational courses in India.
Skillshare CEO Matt Cooper said, “India has a flourishing edtech sector valued at over $15 billion. Combined with a growing population of millennials looking to pursue and monetize their creative passions, and the rising demand for creative classes, the Indian market presents huge opportunities for Skillshare to widen our online learning community. We’re excited to launch our operations in India and we see this as a crucial part of our global growth strategy.”
India is the second largest market for online learning and is expected to grow at a compound annual growth rate (CAGR) of 44%. Half a billion new internet users are expected to come online by the end of 2022. This growth is backed by the phenomenal rise in the paid user base for online learning, making it the preferred choice for companies seeking to delve into the Indian market.
Skillshare has more than 13 million registered members and over 30,000 video-based classes spanning a wide range of creative disciplines, from graphic design to photography, painting, illustration and interior design taught by experts in their fields.
Those investing in Skillshare’s India venture include Union Square Ventures, Spero Ventures, OMERS Growth Equity, Adobe and Burda Principal Investors.
“India is a unique market for Skillshare. The sheer number of new internet users, coupled with the demand for microlearning, promises more growth opportunities. Our focus in India is to bring our platform to the growing number of creators looking to level up in their careers or deepen their creative interests – as a hobby or as a step to monetize their passions,” said Aayur Kaul, Skillshare’s market head, India.
Skillshare has over 1,000 creators based in India producing authentic content that resonates with individuals locally. “We also plan to invest in initiatives to recruit local talent to get started as teachers — creatively inclined people, who are experts in their areas of interest,” Kaul added.
Skillshare provides comprehensive resources and programmes to support teachers wanting to create content and share their expertise, helping them earn while doing what they love. In 2021, Skillshare witnessed a growth of 35% in onboarding new local teachers. The company plans to add more teachers in the coming year by investing in a number of different initiatives.