Edtech Company Hero Vired rolled out an employee stock option plan (ESOPs) for its full-time faculty members and teaching assistants who have completed six months with the company.

According to reports, at its current growth rate, Hero Vired expects the valuation to increase by 20 times from its current size over the next three to four years, to offer a lucrative wealth creation opportunity to its faculty pool.

Reports suggest that, the 10 full-time faculties have been granted ESOPs worth around Rs.50 lakhs. Depending on individual and company performance, the company will grant fresh ESOPs every year. The company is also looking at partial buyback or secondary exit in 3-5 years. Hero Vired is also looking at an IPO in 5-6 years.

ESOPs are getting prevalent across sectors to attract talent and many are reducing the vesting period as well.

Hero Vired is a start-up venture of the Hero Group and has 66 part-time and full-time faculty members for its programs in Full Stack Development, Data Science, Machine Learning & Artificial Intelligence, Finance & Financial Technologies and Gaming. Hero Vired’s vision is to use modern and experiential pedagogical methods to inspire holistic learning. We create professionals not only for the present but also the yet un- imagined jobs of the future. Our goal is to prepare them to become the reliable first choice in a rapidly transforming digital economy.

“Our ESOPs program is our dynamic approach to attracting, rewarding, and retaining top talent. The Hero Vired employee stocks will hit 20x valuation in three years, and as we prepare for our IPO in the next 5-6 years, their valuation will rise further,” says Akshay Munjal, founder, and CEO, Hero Vired.