Archive · 31 Jul 2026
SpeEdLabs Founder Leaves Banking for EdTech Success
Vivek Varshney grew up in a small town in India and studied at IIT Kanpur and IIM Lucknow.
He worked in big banks in London but left in 2015 to start an online learning company called SpeEdLabs.
The company helps students prepare for exams like JEE and NEET by using smart software.
At first, many students didn’t use the online tool because they were busy, so SpeEdLabs added printed books that also fed data to the software.
Now the company serves 750 schools and 150,000 students, earns ₹40 crore a year, and is making a profit.
Varshney says education is the best way for families to improve their lives, and he wants the company to keep growing profitably.
Founder Vivek Varshney left a global banking career in 2015 to launch SpeEdLabs, an adaptive learning platform for K‑12 students.
SpeEdLabs grew from a pilot with nine schools to 750 schools and 150,000 students, with revenues rising from ₹4.5 cr to ₹40 cr and EBITDA turning positive.
Early growth was hampered by a mismatch between online engagement and student time; the company pivoted to a hybrid model combining physical textbooks with digital diagnostics.
SpeEdLabs cut its monthly cash burn by 20 % and achieved unit‑economics, supported by investors like 35 North Ventures.
Varshney emphasizes that education in tier‑2 and tier‑3 towns is a long‑term investment, with the goal of expanding EBITDA margins to 17‑18 % by FY27.
- Who
- Vivek Varshney, founder of SpeEdLabs
- What
- Founded and grew SpeEdLabs, an adaptive learning platform for K‑12 students
- When
- Founded in 2016; major growth reported for FY25‑26
- Where
- India, with origins in Kasganj, Uttar Pradesh and operations nationwide
- Why
- To provide affordable, effective education to students in tier‑2 and tier‑3 towns
- Founder
- Vivek Varshney
- Founded
- 2016
- Revenue FY26
- ₹40 crore
- EBITDA margin FY26
- 11%
- Student count
- 150,000
- School partners
- 750