India’s fast-evolving edtech sector has its share of headline stories, but Masai School’s recent leap into the INR 100 crore revenue club stands out for its bold strategic pivots and gritty turnaround. Launched in 2019 with a disruptive “pay-after-placement” model, Masai School weathered the startup funding winter and a hiring slowdown, only to bounce back with a reinvigorated playbook that trebled its topline and dramatically shrank its losses.
Key Highlights of Masai School’s Revenue Comeback
Masai School crossed the INR 100 crore revenue milestone in FY25, trebling its topline despite the ongoing funding freeze in the Indian startup ecosystem.
The edtech firm shrank its net losses by nearly 70%—from INR 42 crore last year to INR 13.2 crore in FY25, showcasing operational discipline and rapid course correction.
A series of strategic pivots fueled this comeback: prepaid program launches, AI-powered course offerings, expense control, curriculum redesign, and robust new placement structures.
With over 25,000 learners upskilled since inception, Masai strengthened its position as India’s fastest-growing, outcome-driven career school.
The Pay After Placement Model: Boon Turns to Bane
Masai School, co-founded by Prateek Shukla, Nrupul Dev, and Yogesh Bhat, burst onto India’s tech education scene with the ‘pay after placement’ promise: students would pay tuition fees only after landing a high-paying job. The model won praise for democratizing access and building trust.
However, as India’s startup world weathered a funding slowdown and tech hiring cooled in 2023 and 2024, the same model became unsustainable. Cash flows slowed, and a drop in placements revealed structural vulnerabilities. Revenue fell from INR 36.8 crore in FY23 to INR 33 crore in FY24, prompting an urgent internal review.
Turning Crisis Into Comeback: Tactical Shifts
Masai’s turnaround began with:
Launching Prepaid Courses and Diversification
The company introduced prepaid programs, collaborating with IT giants and top Indian colleges. Expanding beyond software development, Masai added high-demand verticals like product management, AI/machine learning, and business analytics.
Cost Controls and Efficiency
Operating expenses were reduced, with resource optimization across teams and a focus on high-yield channels.
AI-Powered and Industry-Relevant Curriculum
Masai recalibrated its content to leverage AI, aligning modules with the latest industry requirements. Stronger partnerships with recruiters ensured learners’ skills matched live job market needs.
Reinvented Placement Ecosystem
The placement team worked closely with hiring partners—matching students to roles in top startups and enterprises—which restored employer confidence and improved placement rates.
Growth Impact and Wider Influence
Masai reached 100 crore in annual revenue—a mark of scale still rare among Indian upskilling ventures.
Placement-led outcomes and a robust learning community enhanced its market standing, attracting both domestic and global recruiters.
Learners benefited from “pay for success” and prepaid options, helping Masai remain accessible while balancing cash flows.
Looking Ahead: Sustaining the Momentum
Masai’s comeback demonstrates the power of adaptation in a turbulent market. Its renewed focus on AI, industry partnerships, and practical curriculum continues to upskill thousands of learners each year. As India’s demand for tech talent rises, Masai is poised for greater expansion, reinforcing its mission to unlock the careers of India’s vast untapped workforce.
Sources: Inc42, LinkedIn, HT Syndication, Instagram
