Ed-tech startup LEAD joins the unicorn club, becomes the third entrant in 2022
- ByTejika Bajaj | January 13, 2022
The ed-tech startup LEAD, previously known as LEAD School, has recently raised a sum of $100 million in its Series E round of funding led by West Bridge Capital and GSV Ventures. With this round of funding, the post money valuation of the startup goes up to $1.1 billion thus marking its entry into the coveted unicorn club.
The ed-tech platform not only takes the title of the first edtech unicorn of 2022, but is also the first ever school edtech player to enter the club. The current round of funding happens to be the fifth institutional round of the startup since 2017.
Talking about the recent development and the key focus of the startup post the funding round, the co-founders of LEAD, Sumeet Yashpal Mehta and Smita Deorah said, “LEAD, with its integrated school system has broken new ground in this direction. Our intense focus has been on learning outcomes and life success of our students. And this has resulted in not only strong adoption and retention by schools but also interest from investors who value returns with real impact. We’re extremely thankful to our team of LEADers for staying true to our mission and helping take LEAD to all corners of the country.”
With the latest round of capital infusion, the unicorn intends to achieve its vision of providing quality affordable education to more than 25 million students across the globe and clock in an annual revenue run rate of $1 billion. The funds will initially be deployed to focus upon the innovation of product and curriculum, drive growth and hire talent across various functions. The startup also plans to penetrate deeper into the country to serve lower-fee schools in the long run.
WestBridge Capital Managing Director Sandeep Singhal said, “We are extremely proud of LEAD’s success as one of the largest school edtech providers in India. Its growth in the past year, despite COVID disruptions, underlines its consumer-first approach and deep focus on learning outcomes. We are excited to double down our investment in LEAD, to support its mission of transforming the education sector in India and touching the lives of millions of students.”
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