Keypath on the rise as students learn to love online education

“COVID-19 has been a net positive. It brought more universities and students into the fold,” Steve Fireng, Founder and Global Managing Director of Keypath, said in an interview.

“Universities make more complex programs [online] than they have ever done in their history and students now have a real choice.

The company said on Monday that over the past six months it has recruited five new partners, including a second in Southeast Asia, the Singapore Institute of Management, bringing the total to 37 worldwide.

A total of 33 new programs, primarily in the paramedical field, were also added with new and existing partners, bringing the total to 166, serving more than 85,000 course enrolments.

Keypath forecast fiscal 2022 revenue of $116.4 million and adjusted EBITDA of a loss of $11.6 million, both in line with the prospectus guidance.

Keypath Education is an online program manager, which is an emerging model of outsourced online education. They can handle all aspects of online education, from recruiting and marketing to teaching and course design.

One of Keypath’s most requested offerings was a service to find clinical placements for students online in locations close to where they live, said Ryan O’Hare, Keypath’s managing director for Australia and Asia-Pacific.

The company had also seen growth in issuing law degrees.

Mr Fireng said he was not concerned about the US Megalith 2U entering the Australian market. The University of Sydney has signed up for four online postgraduate data courses with 2U starting next year.

“It’s an illustration [of] that the [online program manager] market is really: that even big brand schools such as the University of Sydney join us. We are quite happy with our growth prospects,” Mr. Fireng said.

He described the company as a pioneer, having entered the Australian and US markets in 2014 when the OPM market was still nascent, and adding that Keypath was one of the first companies to enter the education market in South Asia. South East.

The World Economic Forum has estimated that the global edtech sector is expected to grow from $36 billion to $97 billion by 2025.

By lunchtime Monday, Keypath’s stock price was down slightly to $2.73 after opening at $2.80.

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