Scaler is a transformative technical school that helps working professionals and college students build their careers and create an impact with impeccable coding skills. And Scaler is focused on creating a growth ecosystem to help software professionals unlock talent and opportunities at every stage of their careers. To learn more, Pulse 2.0 interviewed Scaler CEO and Co-Founder Abhimanyu Saxena.
Abhimanyu Saxena’s Background
While pursuing an engineering degree, Saxena started his entrepreneurial journey by co-founding Daksh Home Automation Systems with some classmates. And together, they developed a cost-effective and green AI-based system that helped households reduce their monthly electricity consumption. Later, the company was sold to an organization based in Malta. Following graduation, Saxena worked with Fab.com in New York and was associated with them for over 3 years.
While hiring for the company, Saxena experienced a need for more skilled tech talent owing to the considerable gap between the university curriculum and the skills required to succeed as a software engineer. And his co-founder Anshuman Singh is also a friend from college.
Singh started his career with Facebook as an early tech team member. In the initial years, Singh led the development of critical features like messaging and chat. Then in 2013, he moved to London and helped Facebook establish a solid regional presence. Along with site-building work, Singh was also actively involved in the technology recruitment efforts of Facebook London, where he brought in new talent for projects which turned out to be tedious.
Even while screening hundreds of resumes and conducting interviews, their respective organizations could only find the right talent in single digits. Nearly 90% of the candidates they interviewed did not have the necessary tech skills that were required for the job. This was when Saxena experienced the need for more skilled tech talent in the industry and realized the gap between the university curriculum and the skills required to succeed as a software engineer.
In 2015, they started InterviewBit as an online platform providing interview prep to aspirants to make them job-ready – which also addresses the challenge recruiters face in hiring the right talent for the job. Later in early 2019, they launched Scaler as a full-fledged upskilling platform for working professionals. At Scaler, the pedagogy of the courses was created and structured basis interaction with recruiters and industry leaders (CXOs) as it helps understand what companies are looking for in their employees. And they train learners with those skill sets accordingly.
Core Products
What are Scaler’s core products?
“Scaler is an upskilling platform by InterviewBit that enables students and working professionals to unlock their talent. Our offerings cater to young working professionals (Scaler Academy). We have our Data Science and Machine Learning (DSML) Program, an undergraduate offline CS engineering program (Scaler School of Technology) and (Scaler Neovarsity), which is a one-of-a-kind Online University where we partnered with Woolf University to create a master’s program with a European Credit Transfer and Accumulation System (ECTS) for accreditation,” said Saxena. “In 2022, we launched Scaler US, where we forayed into the American market. The US program is launched with the Scaler Academy curriculum, created specifically for those already adept at coding and looking to enhance their skills to become elite software engineers. We will introduce additional programs to our U.S.-based learners as the program matures
Formation Of Scaler
During their time at InterviewBit, the Scaler founders engaged with about 100 people who had used their platform to help with job interviews.
“We eventually secured employment opportunities with top tech companies like Uber, Amazon, and others. In those conversations, we realized that all these people who had made such incredible career transitions had a sibling, cousin, or friend who helped them prepare them for these opportunities with these large companies,” added Saxena. “The idea of ‘mentorship’ that is today our USP for the Scaler program came from that experience. That was the turning point for us, leading to Scaler’s launch and our programs’ tremendous success. Institutions like Harvard, Stanford, etc., offer a similar version of the mentor experience through their communities of peers and alumni. Unfortunately, only some can get educated at such prestigious places. At Scaler, we connect our learners with professionals in the tech industry and understand the nuances of how things work. Through their mentors, learners can grasp both interview skills and soft skills and career advice that allows them to make better decisions and carve a more sustainable career path for themselves.”
Differentiation From Competition
What differentiates Scaler from the competition?
“The impact we can make on the lives of our learners is something that motivates all of us at Scaler to be better and do better. So many young people with dreams and aspirations have trusted us with their futures. It is a lot of pressure but in a good way. For most of them, finding the right job and being paid better salaries can change their lives completely. So many of them come from such humble backgrounds and have struggled for years. To see them succeed and grow is very satisfying,” Saxena explained. “For instance, there was this one learner from Pune in India. His father used to have a small grocery store on the side of the street. They saved every penny to ensure they could educate their child and help him become an engineer. But unfortunately for them, the college curriculum in most educational institutes across the world needs to be updated. You need to study in an Ivy League college to see financial success. He joined Scaler, worked hard, upskilled himself, and today works for Amazon. He has been able to buy a house for his family and give them a life they could never have imagined a few years ago. And there are so many like them, with different struggles – financial, mental, cultural – it is such a huge honor for us to be able to help them. These kinds of career and life outcomes we can help our learners with – that is our USP and differentiates us from everyone.”
Funding/Revenue
Scaler started 2022 with a Series B funding of $55 million led by new investor Lightrock India and two existing investors: Sequoia Capital India and Tiger Global. And with this round of funding, the total capital raised by Scaler since January 2020 stands at $76.5 million, with a valuation of $710 million. Scaler also clocked over $100 million annualized run rate (ARR) as of December 2022, and they are also positive for both cash flow and EBITDA.
Biggest Milestones
What have been some of Scaler’s biggest milestones?
“For a growing brand, we have experienced so many daily milestones: our first 100 learners, the first learner who got placed in Google, and the first one that got an offer that was over 10 million INR. We strongly believe in celebrating every single small or large milestone,” Saxena answered.
These are some of the other milestones that they achieved:
– As of today, the company is adding close to 2,500 learners monthly (the number is India + US), and since April 2019, Scaler has onboarded & helped 35,000 learners cumulatively.
– Scaler has a very active community on Discord where students and teachers (mentors) discuss various tech and digital skills topics, clarify doubts instantaneously, and discuss assignments, projects, etc. With more than 100,000 members, it is the largest tech community in the country.
– The company has attained a placement rate of 93.5%, and Scaler learners, after upskilling, have witnessed over a 126% increase in their salaries.
– Scaler has clocked over $100 million annualized run rate (ARR) as of December 2022 and is positive for both cash flow and EBITDA. The company is also growing healthily month on month at about 15%.
Customer Success Stories
When I asked Saxena about some customer success stories, he said that they had some very inspiring learner journeys over the last few years.
“But the ones that touch our hearts the most are the ones that can make a substantial change in their life. So many of our learners came from humble backgrounds and had just seen a laptop when they started their graduation degrees. It is very satisfying to help our learners make these groundbreaking changes to their life stories. One story in particular that comes to mind is about Hrishikesh Raskar, the son of two vegetable sellers,” Saxena reflected. “Since childhood, he was acutely aware of his family’s financial situation. He worked hard towards attaining an education from a prestigious institution. His efforts paid off when he cracked the IIT (top engineering college in India) entrance on the second attempt with a scholarship. However, as time passed, he realized that his CGPA score was inadequate to sustain his scholarship and had to take a loan to continue his degree. Having taken up several odd jobs such as freelance tech writing and online tutoring to earn money, Hrishikesh focused solely on his responsibilities at his career and put in 12 to 14 hours a day, and weekends, in an attempt to master the skills of a backend engineer. But he was unable to find the right employment opportunities. He joined Scaler, worked hard to build the right industry skills, and found a great-paying job with Amazon in India. He could change his life around entirely with his grit and determination. We feel so blessed to have paid a part in this journey.”
Future Company Goals
What are some of the company’s future goals?
“In a competitive world where technology is changing industries daily, individuals need to reskill themselves regularly to stay relevant. Hence, from now on, upskilling will continue to maintain its prominence. ‘Industry-academia’ partnerships are the way forward for the education sector,” Saxena replied. “We also think the ‘learning and development modules will increase in importance in organizations in the coming months. As for us, we will continue to expand our reach and product portfolio.”
