Edtech start-up Scaler has announced that its employees would receive ten days of paid time off at the end of the year. The business is distributing the “gratitude leaves” from December 21 to January 1 in recognition of its success in ending the year on a rewarding and successful note.
The start-up, which employs 2,200 people, said in August that its annual revenue rate for FY21 increased by 2,500% over FY20 to $110 million.
Commenting on this move, Abhimanyu Saxena, the start-up’s co-founder, said, “Our talented workforce has played a critical role in running a cash flow-positive business, helping the company achieve a year-on-year growth of over 350 per cent and a sustained month-on-month revenue growth of 15 per cent. Having achieved these milestones, we want to allow our employees the time to cherish and benefit from their growth journey with us.”
According to Saxena, the organisation wants to concentrate on encouraging worker productivity and well-being, making sure that their mental and physical healthcare needs are met.
The start-ups in India, especially those in the edtech industry, have had a difficult year. In the midst of the “financial winter,” some start-ups, including BYJU’s, Vedantu, and Unacademy, have made significant employee reductions.
In 2019, Saxena and Anshuman Singh established Scaler, a platform that upskills students and IT professionals and mentors them to land the top opportunities throughout the software industry.
Scaler’s parent business is Interviewbit. The three start-ups that have been acquired thus far are AppliedRoots, Coding Minutes, and Coding Elements.
Additionally, in a round led by Lightrock in February of this year, the company raised $55 million.