Eruditus - Transforming Executive Education with Affordable Excellence

Executive education encompasses graduate-level academic programs tailored for executives, business leaders, and functional managers on a global scale. These programs, which are usually non-credit and do not issue degrees, frequently culminate in certificates and offer continuing education units accepted by organizations and professional bodies.

This dynamic field provides specialized information and skills essential for strategic decision-making and leadership in the ever-changing business world, catering to the specific learning demands of seasoned professionals.

Eruditus has become a leader in innovation and quality in the fast-paced world of executive education. Eruditus, which specializes in providing top-notch executive education programs worldwide, is now widely recognized for giving easily accessible and reasonably priced learning options.

Leading the way in the sector, Eruditus is dedicated to providing people, organizations, and governments with the skills of the future, making a substantial contribution to the global advancement of education.

In this article, we will delve into the successful journey of Eruditus, its founder, business model, funding, competitors, and more.

Eruditus - Company Highlights

Eruditus - About
Eruditus - How it Works?
Eruditus - Industry
Eruditus - Founders and Team
Eruditus - Startup Story
Eruditus - Mission and Vision
Eruditus - Name and Logo
Eruditus - Business Model
Eruditus - Revenue Model
Eruditus - Challenges Faced
Eruditus - Funding and Investors
Eruditus - Acquisitions
Eruditus - Growth
Eruditus - Awards and Achievements
Eruditus - Competitors
Eruditus - Future Plans

Eruditus - About

Eruditus specializes in executive education programs tailored for mid-career professionals, offering a diverse portfolio of customized and open programs in collaboration with globally renowned business schools. These programs offer professionals flexible access to pertinent knowledge and chances for career progress. They are offered in a variety of formats, including online courses, in-depth modular sessions, and brief seminars.

Known for its excellent content, Eruditus offers executive business courses to businesses and individuals all around the world. The company's programs make use of a variety of instructional techniques and modules that are painstakingly designed to fit into hectic schedules and work obligations, guaranteeing participants a smooth and rewarding educational experience.

Eruditus - Emeritus

Emeritus (a U.S-Indian company) is the online branch of Eruditus. It was founded in 2015 as a response to the growth in digital learning. Specifically, it took the core elements of Eruditus which include helping educational institutions design new curriculums and applied them to the online space to develop certificate courses and online degrees.

The company has offices in Boston where it works to develop curriculum content as well as Dubai, Mexico, Mumbai, and Singapore. Its partners include MIT, Columbia, Tuck at Dartmouth, Wharton, UC Berkeley, and London Business School.

"Today, Emeritus accounts for most of the business’s growth potential and is really the focus of this investment," co-founder and director Ashwin Damera said. “We’re helping working professionals who can’t otherwise come to these schools to access high-quality educational content online and It’s very different from a MOOC [such as Coursera or Udemy], we are a SPOC — small, private, online course.”

Eruditus - How it Works?

Real-world learning experiences including classroom interactions, online sessions, case studies, simulations, and practical exercises are integrated into Eruditus' unique educational method. The Eruditus Group, which includes Eruditus Executive Education and Emeritus, works with prestigious universities across the globe to provide business and professional education of the highest caliber.

Established in 2015, Emeritus, part of the Eruditus Group provides a wide range of professional certificates, degree programs, senior executive programs, and short courses. Their distinctive approach to education blends cutting edge technology, creative curriculum design, and practical training from knowledgeable instructors, coaches, and mentors. Emeritus has proven its ability to transform people, businesses, and organizations by reaching learners in 200 countries.

The Eruditus Group, which has offices in strategic locations and a global workforce, encourages its members to think strategically, ask insightful questions, engage in strategic thinking, and participate in meaningful debates – skills directly applicable in everyday office scenarios.

Eruditus - Industry

The Executive Education sector is predicted to show a robust increase of roughly 3.3% CAGR from FY22 to FY27, as noted by Ken Research. The need for online and virtual learning programs is driving the industry's transformation, and virtual platforms are seeing a significant increase in income. This development highlights the industry's capacity to adjust to shifting consumer tastes and highlights the increasing importance of online learning environments for executive education.

Eruditus - Founders and Team

Eruditus was founded in 2010 by Chaitanya Kalipatnapu and Ashwin Damera.

Chaitanya Kalipatnapu

Chaitanya Kalipatnapu serves as the Co-Founder and Executive Director of Eruditus along with being a lecturer at INSEAD. After graduating with MSc in Information Systems from BITS Pilani, Kalipatnapu started working as a Technical Staff at Sun Microsystems. He then became a Product Manager at INSEAD and eventually completed his MBA in General Management from INSEAD. Then he founded Eruditus. Chaitanya is also the Co-Founder of Emeritus.

Ashwin Damera

Ashwin Damera is the Co-Founder and CEO of Eruditus. He has an ACA from the Institute of Chartered Accountants of India, after which he completed an MBA from Harvard Business School. Damera was a Portfolio Risk Manager at Citibank and eventually founded TravelGuru. After selling his first company, he joined Travelocity Asia-Pacific as an advisor. After that, he founded Eruditus. Damera is also the CEO of Emeritus.

Eruditus works with a team of 51-200 employees, as per LinkedIn.

Eruditus - Startup Story

Co-founder Ashwin Damera's Eruditus stands out in the online education market by rejecting the popular "growth at all costs" thesis. After Travelguru, his first firm, was sold, Damera's entry into education was motivated by his experiences in the cutthroat travel sector, particularly the dangers of trying to maximize valuation.

Together with fellow INSEAD graduate Chaitanya Kalipatnapu, Damera developed a methodical, slow-moving approach for Eruditus that was based on prior learnings and a dedication to excellence. This approach sets Eruditus apart in the dynamic landscape of online education startups.

With the advent of Eruditus Executive Education in 2010, an innovative method of executive education was presented. Without the use of the internet, technology, or venture funding, the first 10-day classroom program was created by teachers from INSEAD and the Indian Institute of Management (Ahmedabad) and was only available to a small number of students.

Strategically tailoring courses in areas such as finance and management, Eruditus focuses on professionals with five to ten years of experience. Eruditus' methodical, hands-on approach-which does not rely on traditional technological crutches-underlines its dedication to high-quality, individualized professional progression, regardless of whether one is breaking past the glass barrier or entering a new area.

Eruditus - Mission and Vision

Mission: The mission of the company is to provide affordable, easily accessible high-quality education.

Vision: The vision of the company is to offer executive education certificate programs on-premise from top universities in the world.

Eruditus - Name and Logo

Eruditus Executive Education operates as part of the larger Eruditus Group.

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Eruditus - Business Model

Eruditus has pioneered a distinctive business model termed 'SPOC' (Small Private Open Courses), emphasizing the completion of courses within its learner base. This structure of operations is consistent with the platform's aim to deliver a targeted and captivating educational experience. Emeritus, a part of the Eruditus Group, serves as the global face for its SPOC programs.

Eruditus works with prestigious Ivy League business schools throughout the world, and its founders actively promote its expansion into a prominent online learning platform for working people. Offering online and hybrid learning programs specifically designed for working professionals worldwide, the collaboration aims to support their shift from functional to management leadership roles.

This strategic approach underscores Eruditus' dedication to quality education and professional development.

Eruditus - Revenue Model

Eruditus generates revenue from various sources, including:

Educational Programs Revenue: The main source of income for Eruditus is the sale of classroom and online management education programs, which are offered in association with prominent business schools. These educational offerings are funded by the learners.

Corporate Upskilling and Training: Offering corporate workers upskilling and training classes via its platform Emeritus is another source of income for Eruditus. These programs, which help employees develop their talents, are funded by companies.

Holistic Approach to Learning: Eruditus offers a wide range of learners interested in expanding their managerial knowledge and skills, all while ensuring a comprehensive revenue model through the combination of online and classroom-based learning experiences.

Eruditus - Challenges Faced

Eruditus faces its own challenges in the world of online education. It is difficult to persuade schools to adopt online learning, and it is challenging to form alliances with prestigious universities while forming new ones.

Investors were dubious about Eruditus's unique business model in which the inventor retained complete ownership back in 2015. Some speculated that the founder might not be so much an entrepreneur as a promoter. Eruditus has persevered and grown to be a significant force in online education in spite of these obstacles.

One of Eruditus's most important lessons came from a 2015 program failure. After months of marketing, they managed to recruit only 21 participants for their fantastic three-month executive program in India. They learned from this that having top-notch faculty wasn't enough; they also required a powerful brand. They had to reconsider their strategy, determine their "product-market-fit," and form partnerships with prestigious colleges as a result of this insight.

This voyage demonstrates how Eruditus adjusted to the shifting landscape of online learning and flourished.

Eruditus - Funding and Investors

Eruditus has raised a total of $1.2 billion in funding over 8 rounds.

Here are the funding details:

Eruditus - Acquisitions

Eruditus has acquired one company named ID Tech to date. ID Tech was acquired by Eruditus on May 21, 2021 with an amount of $200 million.

Eruditus - Growth

The executive edtech platform Eruditus has reported a notable increase in revenue for FY23, with a notable rise over the previous fiscal year. The business also emphasizes a notable drop in losses, indicating a notable enhancement in its financial performance. These encouraging metrics highlight Eruditus strong development trajectory and sound financial standing in the executive education market.

Some major growth highlights of Eruditus are:

• Eruditus has partnered with 75+ Universities across the world as of January 2024.
• The company has 200 Learner Countries as of January 2024.
• It has 300,00+ learners globally as of January 2024.
• Eruditus has 300+ Faculty as of January 2024.
• It provides 450+ programs as of January 2024.
• The courses that Eruditus offers are facilitated in multiple languages, including Spanish, Portuguese, and Mandarin.

Financials

Expenses

Eruditus total expenses has reduced from Rs 5,056 crore in FY22 to Rs 4,392 crore in FY23.

EBITDA

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Eruditus - Awards and Achievements

Eruditus achieved notable recognition, including exemplary work by the GSV 150, the IIA Leadership Awards, the EdTech Leadership Awards, and Think Global Awards. These accolades highlight Eruditus outstanding work and leadership in the fields of technology and education, demonstrating its influence around the world and dedication to quality.

Eruditus - Competitors

Top Eruditus competitors include:

• Toppr
• BYJU'S
• Vedantu
• Unacademy
• upGrad

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Eruditus - Future Plans

Eruditus is reportedly planning to enter the study abroad market as part of its strategic positioning for future growth, as reported on January 22, 2024. Additionally, there are indications that the company is considering moving its domicile to India, potentially exploring the IPO route for further financial opportunities.

Ashwin Damera, the CEO and co-founder of Eruditus, has denied any imminent plans for a public listing in the face of these rumors, advising a methodical and careful approach to future developments and possible IPO considerations.

FAQs

What is Eruditus?

Eruditus is an executive education provider, which brings numerous opportunities for business executives to access a mix of executive programs from the top-ranking universities.

What does Eruditus do?

Eruditus provides executive education programs intended for mid-career professionals.

Who founded Eruditus?

Eruditus was founded in 2010 by Chaitanya Kalipatnapu and Ashwin Damera.

What is Eruditus' business model?

Eruditus is credited for creating the unique "SPOC" (Small Private Open Courses) business model, which places a strong emphasis on course completion among its learner base.