Anita Kishore: BYJU’s Fearless Finance Leader Guiding High-Growth Strategies

In January 2019, Anita Kishore, Head of Finance and Chief Strategy Officer at BYJU’s, was about to make a bold move. Kishore, an engineer with a passion for teaching, had embarked on a unique journey that led her to this pivotal moment. She began her career as a consultant at the Boston Consulting Group in 2009 and, to pursue her love for teaching, she started taking classes on weekends. Eventually, in 2012, she joined BYJU‘s, where she diligently followed Newton’s Laws of Motion over the next seven years. During these early years, BYJU’s was in constant motion, growing steadily and rapidly. This dynamic environment required quick and decisive financial decisions. Kishore emphasizes that in high-growth companies like BYJU’s, financial decisions cannot be made in isolation. They must align with the company’s needs and context.

By 2019, BYJU’s had become the leader in the edtech industry, thanks in part to Kishore’s strategic financial moves. She also took on the role of Chief Strategy Officer and orchestrated four acquisitions between 2015 and 2019, strategically positioning BYJU’s for further growth. In January 2019, BYJU’s was on the cusp of making its first global acquisition by purchasing Osmo, an edtech company. The $120 million deal presented numerous challenges. BYJU’s had no prior presence in the US market, Osmo’s growth had plateaued, and their offerings were different. Many traditional CFOs would have hesitated, but not Kishore.

Kishore’s philosophy is that the most significant risk is not taking enough risks. She believes in looking beyond current numbers and considering an asset’s potential in the future. She advises against letting probability dictate decisions, as success often comes from trying different approaches. BYJU’s made the $120 million acquisition of Osmo in 2019, and three years later, it has proven to be a successful move. Osmo’s revenue has grown fourfold and exceeded $100 million by the end of FY21. Kishore’s secret to this success lies in her approach to strategic synergies, long-term vision, and evaluating where an asset fits within the bigger picture of the acquiring company.

For BYJU’s, every capital allocation decision revolves around the choice between building and buying. Kishore believes that the decision should not be based solely on financial considerations. Instead, she looks at the time saved, synergies created, the addition of new teams, and the dynamism of the founding members when evaluating an investment’s potential. Kishore also advocates for a unified role in strategy and finance. She believes that having one person oversee both areas is an ideal construct, as many financial decisions are closely linked to strategic objectives.

Today, CFOs play multifaceted roles beyond traditional financial responsibilities. They are key players in fundraising and strategy execution. Anita Kishore exemplifies the evolving role of CFOs in high-growth companies like BYJU’s.

In Kishore’s own words, her guiding principle is to consider probability but never let it dictate the final decision. This approach has been instrumental in BYJU’s remarkable journey of becoming India’s leading edtech company, valued at $21 billion, with plans for a potential US listing via SPAC in the near future.