Mayank Kumar, co-founder and Managing Director of upGrad, co-founded the edtech company in 2015 with Ronnie Screwvala and Phalgun Kompalli.
Mayank Kumar co-founded upGrad and helped expand its education business globally. Explore his career, role, education, funding and growth strategy.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Mayank Kumar?
- Early Life and Education
- Career Before upGrad
- How upGrad Started
- Funding History
- Revenue Growth and Recent Developments
- upGrad’s Expansion
- upGrad vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- The Take Nobody In The Industry Wants To Say Out Loud
- Sources
- SEO Metadata Block
Who is Mayank Kumar?
Mayank Kumar is the Co-founder and Managing Director of upGrad, the education technology company he co-founded in 2015 with Ronnie Screwvala and Phalgun Kompalli. He has played a central role in upGrad’s business strategy, growth, partnerships and international expansion. Before becoming an entrepreneur, Kumar worked across education and consulting, including roles at Bertelsmann and The Parthenon Group.
Early Life and Education
Kumar holds a B.Tech from IIT Delhi and an MBA from the Indian School of Business.
His academic background combines engineering and management, while his professional experience before upGrad gave him exposure to consulting and the education sector.
This combination became relevant as upGrad developed programmes designed for students and working professionals looking to build skills and advance their careers.
Career Before upGrad
Before co-founding upGrad, Kumar worked in the education and consulting sectors.
He was associated with Bertelsmann and The Parthenon Group, gaining experience in business strategy, education and market development.
That background gave Kumar an understanding of both the commercial and operational sides of education. It also helped shape his focus on building partnerships and scalable education programmes.
How upGrad Started
Kumar co-founded upGrad in 2015 with Ronnie Screwvala and Phalgun Kompalli.
The company was established as online education was beginning to gain wider acceptance in India. Instead of focusing only on short-form courses, upGrad developed programmes around higher education, professional learning and career advancement.
Kumar became closely involved in business strategy, partnerships and growth. His role also expanded as the company began building relationships with universities and educational institutions outside India.
The broader objective was to connect education with professional outcomes, giving working professionals access to programmes that could help them develop new skills without leaving their careers.
Funding History
| Round | Year | Amount | Lead Investors |
|---|---|---|---|
| Series F | 2021 | $120 million | Temasek and others |
| Series G | 2021 | $210 million | Temasek, IFC and others |
upGrad attracted significant institutional investment during the rapid expansion of India’s online education sector.
The capital supported the company’s programme expansion, acquisitions, technology development and international growth.
A complete cumulative funding figure across all rounds is not publicly disclosed in the information provided.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Profit/Loss |
|---|---|---|
| Latest consolidated figure | Not publicly disclosed | Not publicly disclosed |
upGrad is privately held, and a complete current consolidated financial history is not publicly disclosed in the information provided.
The company has continued expanding its professional-learning offerings through university partnerships, executive education and technology-focused programmes.
Kumar’s focus on partnerships and international expansion has become increasingly important as upGrad has moved beyond its original Indian market.
upGrad’s Expansion
upGrad has developed into a broader higher-education and professional-learning platform.
Its offerings span technology, management, data science, law and other professional disciplines. The company has also expanded internationally through partnerships and programmes aimed at learners outside India.
This strategy gives upGrad access to a larger market, but it also places the company against established universities and global education platforms.
upGrad vs Competitors
| Company | Founded | Positioning |
|---|---|---|
| upGrad | 2015 | Higher education and professional learning |
| Coursera | 2012 | Global online learning |
| Emeritus | 2015 | Executive and professional education |
| Simplilearn | 2010 | Digital skills and professional certification |
upGrad’s positioning is built around structured programmes, university partnerships and professional outcomes.
Its challenge is differentiation. Learners now have access to numerous online education platforms, making programme credibility, pricing, completion rates and career outcomes increasingly important.
Investor Perspective
Kumar’s strongest qualification is his combination of education-sector experience, consulting exposure and management training. His work at Bertelsmann and The Parthenon Group gave him experience that directly connects with upGrad’s business.
The opportunity is substantial. India’s expanding professional workforce and growing demand for technology and management skills create a large market for higher education and professional learning.
Partnerships are another important strength. Strong university relationships can give online programmes greater credibility than standalone courses.
The risks include customer acquisition costs, competition and the challenge of maintaining programme quality while expanding rapidly across markets.
Kumar’s long-term test will be whether upGrad can convert its expanding reach and partnerships into sustainable economics and measurable career outcomes.
Founder Timeline
- Before 2015: Works in education and consulting, including Bertelsmann and The Parthenon Group.
- 2015: Co-founds upGrad with Ronnie Screwvala and Phalgun Kompalli.
- 2021: upGrad raises major institutional funding.
- 2021 onward: Expands higher-education offerings and international partnerships.
- 2026: Continues as Co-founder and Managing Director of upGrad.
Key Takeaways
- Mayank Kumar co-founded upGrad in 2015.
- He currently serves as Co-founder and Managing Director.
- His responsibilities include strategy, growth, partnerships and international expansion.
- He previously worked with Bertelsmann and The Parthenon Group.
- He holds degrees from IIT Delhi and the Indian School of Business.
FAQs
Who founded upGrad?
Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli co-founded upGrad in 2015.
What is Mayank Kumar’s current role?
He is Co-founder and Managing Director of upGrad.
When was upGrad founded?
upGrad was founded in 2015.
Where did Mayank Kumar study?
He holds a B.Tech from IIT Delhi and an MBA from the Indian School of Business.
Where did Mayank Kumar work before upGrad?
He worked in education and consulting, including at Bertelsmann and The Parthenon Group.
What does Mayank Kumar do at upGrad?
His work focuses on business strategy, growth, partnerships and international expansion.
What does upGrad do?
upGrad provides higher education, professional learning and career-focused programmes.
How much funding has upGrad raised?
Major disclosed rounds include $120 million in 2021 and a further $210 million round in the same year. A complete cumulative figure is not publicly disclosed in the information provided.
Is upGrad profitable?
A current consolidated profitability figure is not publicly disclosed in the information provided.
What is Mayank Kumar’s net worth?
His current personal net worth is not publicly disclosed.
What awards has Mayank Kumar received?
He has been recognised by BW Disrupt’s 40 Under 40 and Economic Times 40 Under 40.
Is Mayank Kumar still involved with upGrad?
Yes. He currently serves as Co-founder and Managing Director.
The Take Nobody In The Industry Wants To Say Out Loud
Our editors weigh in.
Mayank Kumar’s background makes him a natural fit for upGrad, but the education business remains harder to scale than its technology layer suggests. Partnerships with universities can create credibility and access, yet they do not automatically guarantee student outcomes. Kumar’s experience across education and consulting gives him a useful perspective on strategy and growth, but the company’s next challenge is proving that expansion can translate into durable economics. Online education has become crowded, and customers are increasingly selective about what they pay for. upGrad therefore needs more than a growing catalogue of programmes. It needs strong completion rates, credible credentials and measurable career outcomes. Kumar’s role in partnerships and international expansion could become a major advantage, but only if those relationships translate into sustainable demand rather than simply expanding the company’s footprint.
Sources
- upGrad, Official Website
https://www.upgrad.com/ - upGrad, Leadership Information
https://www.upgrad.com/about/ - Mayank Kumar, LinkedIn
https://www.linkedin.com/in/mayank-kumar-5573243/ - Economic Times, upGrad Coverage
https://economictimes.indiatimes.com/ - Moneycontrol, upGrad Coverage
https://www.moneycontrol.com/ - Forbes India, upGrad and Ronnie Screwvala Coverage
https://www.forbesindia.com/ - BW Disrupt, 40 Under 40
https://bwdisrupt.com/
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