Upside LMS HRTech Private Limited

Business Overview

Enterprise learning technology company. Its LMS product, historically branded UpsideLMS, has been rebranded as Invince (upsidelms.com now redirects to invince.ai). Product suite includes Invince LMS (AI-powered, mobile-ready SaaS learning management system), Invince LXP (learning experience platform with skills intelligence), Invince Craft (generative-AI multilingual microlearning content tool) and Plethora Learning (curated library of 80K+ ready-to-use courses/videos). Serves 400+ enterprise customers across BFSI, healthcare, manufacturing and retail. Source: invince.ai, techjockey.com. Reported headcount ~85 (Oct 2025) per TheCompanyCheck. (Treat headcount cautiously — aggregator estimate.)

Sector & Classification

Information & communication / IT — computer programming, consultancy and related activities (NIC Group J62 / division 62). Domain: eLearning & Learning Management Systems. Source: TheCompanyCheck, MCA classification via registry aggregators.

Directors & Key Management

GST Registrations

Not obtained (exact GSTIN could not be confirmed from two independent sources; premium-gated on aggregators). PAN AACCU3016F confirmed (Tofler); home state Maharashtra (state code 27). Number of registrations: not obtained.

Financials

Latest audited FY 2024-25 (standalone), figures largely from aggregators:

- Revenue: approx Rs. 17.8 Cr, up ~15-16% YoY (TheCompanyCheck Rs. 17.8 Cr / 15%; Tofler ~15.9% growth, revenue band Rs. 10-25 Cr).

- EBITDA: exact figure gated; Tofler reports +63.6% YoY growth.

- PAT / Net profit: exact figure gated; Tofler reports +53.42% YoY growth.

- Net worth: exact figure gated; Tofler reports +11.15% YoY increase.

- Borrowings: +18.51% YoY (Tofler); open secured charge of Rs. 2.0 Cr outstanding.

- Balance sheet (Mar 2025): total assets Rs. 17.7 Cr; trade receivables Rs. 8.6 Cr; cash & equivalents Rs. 0.3 Cr.

Standalone basis. Exact EBITDA/PAT/net worth values: not obtained (premium-gated). Source: Tofler, TheCompanyCheck.

Funding History

No external/institutional funding round identified (appears bootstrapped/promoter-funded; parent group Upside Learning founded 2004). None found in Tracxn/Entrackr/Inc42 search results. Source: web search (no round data).

Shareholding

Privately held by promoters. Both directors (Amit Gautam, Sudipta Sahu) listed as shareholders. Exact shareholding split: not obtained. Part of the Upside Learning group. Source: Falconebiz, TheCompanyCheck.

Loans & Charges

One open charge: HDFC Bank Limited, Rs. 2.0 Cr, created/modified 24 March 2025. Source: Tofler, TheCompanyCheck.

Related Parties

Group/related entities: (a) Upside LMS, Inc. — subsidiary in the United States (Tofler); (b) Upside Learning Solutions Private Limited — associated parent/group company (TheCompanyCheck notes the entity as "a subsidiary of Upside Learning Solutions Private Limited"); (c) brands operated: Invince and UpsideLMS. Note a source conflict: Tofler lists a US subsidiary while TheCompanyCheck frames the entity as a subsidiary of Upside Learning Solutions — both point to the Upside Learning group structure. Source: Tofler, TheCompanyCheck.

Credit Ratings

Not obtained (no CRISIL/ICRA/CARE rating found for this entity).

Legal & Compliance

None found (no Indian Kanoon case records identified for this entity in searches).

Competitive Landscape

Learning management / corporate learning platform peers: Docebo (global, large — ~US$217M FY24 revenue); Cornerstone OnDemand (global, large — 7,000+ customers); SAP Litmos (global, large); 360Learning (global, mid-large); Moodle (open-source, very large install base); Disprz (India, mid); Paradiso Solutions (India, small-mid); LinkedIn Learning (global, large). UpsideLMS/Invince sits in the small-to-mid enterprise-SaaS LMS tier. Source: web search, Gartner peer insights.

Frequently Asked Questions