LEAD, Edtech unicorn, appoints Arpit Jain as CFO and Arvind Singhal as CGO

• ByStartupStory     |    January 24, 2024

Edtech unicorn LEAD reinforces its leadership team, appointing Arpit Jain as Chief Financial Officer and Arvind Singhal as Chief Growth Officer. The move aligns with ongoing high-profile shifts in the edtech sector. Singhal, previously COO at Vedantu, will drive LEAD’s growth strategy, while Jain, a former Marico executive, takes charge of finance and legal functions.

Sumeet Mehta, Co-founder and CEO of LEAD, emphasizes the expertise the new appointments bring, stating, “Together, Arvind and Arpit bring decades of valuable experience and a proven track record in financial and operational success.”

Jain, a Chartered Accountant with over 11 years at FMCG major Marico, held roles including CFO-Digital Business and Head of Mergers and Acquisitions. Singhal’s background encompasses executive-level positions at Vedantu and other notable companies like BlackBuck, BlueStone, TFS/Ola, McDonald’s, Reliance Communications, Nokia, and Marico.

The strategic direction provided by the duo is expected to accelerate the adoption of school edtech across India, coinciding with LEAD’s expansion efforts into new regions and growth within existing school networks.

Founded in 2012 by Sumeet Mehta and Smita Deorah, LEAD offers a comprehensive integrated system for schools, serving over 9,000 schools, 50,000 teachers, and five million students across India. LEAD entered the high-fee school segment in 2023 through the acquisition of Pearson’s local K-12 learning business.

Mehta outlines LEAD’s ambitious goals, stating, “It aims to improve learning outcomes across 25 million students in 60,000 schools by 2028.” The company reported a reduced loss of Rs 321.9 crore in FY23, down 18.5% from the previous fiscal year, with operating revenue surging 106.4% to Rs 273.2 crore.

LEAD has raised over $171 million to date, with a recent $20 million debt round in January 2023 and a $100 million Series E round in 2022 led by WestBridge Capital and GSV Ventures at a $1.1 billion valuation.

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