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Education technology usually involves hardware and software technology used to educate learners on a virtual level with an attempt to improve learning in classrooms and enhance students’ education outcomes. These platforms assist students to overcome hurdles to receive a comprehensive education by utilizing technology for learning and teaching. In 2022, the global education technology market size was valued at USD 123.40 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030.
With time, we can even expect edtech solutions to evolve in line with the advances in the latest technologies, such as IoT, AI, and AR/VR, and contribute significantly to the market's growth. The integration of AR and VR in EdTech solutions can help in offering an interactive experience to learners. It will allow learners to explore and seamlessly connect with abstract concepts and subsequently drive student engagement.
While COVID-19 resulted in mass closure of schools and other educational institutions, digitisation in education came through with a measure of force and that was the advent of educational technology entering a boom. Let us take a closer look at the top EdTech companies which are changing the way of learning for students. The list below consists of startups firms such as Unacademy, Coursera, Udemy, Kahoot and more.
1. Unacademy
Unacademy is an Indian educational technology company that provides online educational platform with its headquarters in Bangalore, Karnataka. The company was founded in 2015 with its founders as Gaurav Munjal, Hemesh Singh and Roman Saini. In 2017, the startup had over 1 million learners with 5000 plus registered educators and over 40,000 classes launched. During the pandemic in 2020, the platform opened to schools and colleges to conduct live classes for their students. It was in the same year that the company launched an initiative where it brought together known personalities from different walks of life. In 2020, the company even acquired Kreatryx, PrepLadder and Codechef to add teaching resources to the portfolio.
In January 2022, Unacademy became one of the founding members of IAMAI's India EdTech Consortium, joining the list of other edtech firms like Simplilearn, PrepInsta Prime, UpGrad and Vedantu.
2. Coursera
This U.S. based massive open online course provider was founded in 2012 and has its headquarters in California, United States. The company’s foundation was laid by Daphnee Koller and Andrew Ng. The platform works with universities and other organizations to offer online courses, certificates and degrees in variety of subjects.
Currently, coursera has worked with around 110 million students and is involved with more than 7,000 campuses, businesses and governments. The platform has partnered with various other verticals and provides around 115 certification courses
3. Udemy
With its headquarters in San Francisco, with hubs in turkey, Ireland, Australia, India and Brazil, Udemy’s marketplace platform offers thousands of courses in dozens of languages on subjects including data science, programming, leadership and team building. With Udemy business, they even offer corporate customers a subscription-based employee training and development platform with access to thousands of courses. The company was founded in January 2010 and has Gregg Coccari as its current CEO.
4. Byju’s
An Indian multinational educational technology company, headquartered in Bangalore, Karnataka India. Its foundation was laid in 2011 by Byju Raveendran and Divya Gokulnath. Under the Byju’s group, the company serves a wide range of learners, from children to adults and even offers programs that can upgrade the professional skills of learners. Byju’s offer learning programs for the K-12 segment as well as for competitive exams. In 2012, the firm entered Deloitte technology fast 50 India and has been prospering since. In August 2015, the firm launched Byju's: The Learning App. In 2017, they launched Byju's Math App for kids and Byju's Parent Connect app. Later in 2018, it had 15 million users out of which 900,000 were paid users at that time. In the same year, Byju's became India’s first edtech unicorn. In 2021, the company generated a revenue of 2,280 crores and in January 2022, the company joined Simplilearn, Unacademy, upGrad, PrepInsta Prime and Vedantu to become one of the founding members of IAMAI's India EdTech Consortium.
5. Kahoot!
This Norway based educational technology platform needs no introduction as 50% of US teachers are already using it. Kahoot! is an excellent free online educational game creating tool for teachers. By accessing this tool, educators can create online games or trivia quizzes on any subject/topic and in any language. Founded in 2012 by Morten Versvik, Johan Brand, and Jamie Brooker. Today this platform has around nine million teachers globally, hundreds of millions of students and families, and, perhaps surprisingly, across 97% of Fortune 500 companies. Since 2019, Kahoot!’s family of learning apps has also included DragonBox and Poio, and in 2020, Kahoot! expanded its family of apps with Actimo, for enterprise learning.
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