- Makes LEAD the first school EdTech player to enter the Unicorn Club
- LEAD made the first EdTech Unicorn of 2022
The series e-funding round was led by Westbridge Capital and GSV Ventures, which made it one of their largest EdTech investments to fuel the company’s ambitious vision of providing an excellent education for every child.
While most other EdTech companies offer supplementary education in K-12 or higher education, LEAD is the only EdTech Unicorn that focuses on transforming core schooling in India with its tech-integrated solutions. The company has grown rapidly in the last 4 years and will enter the 22-23 academic year with 5000 schools in 500+ cities of India with an annual revenue of $ 80 million. It will serve approximately 2 million students and is unique in that it promises and delivers measurable improvement in student learning outcomes in schools.
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The company plans to use the revenue to achieve its vision of providing quality affordable education to 25 million + students with an annual revenue run-rate of $ 1 billion. The immediate focus will be on product and curriculum innovation, increasing its footprint and recruiting top talent across different functions. In the long run, the company plans to go deeper into the country to serve students in low-fee schools and expand internationally into similar geographic areas.
Sumit Yashpal Mehta and Smita Deorah, co-founders of LEAD, said, “A child spends 6 hours in school and only 1 hour in tuition. We believe that before Saraswati Lakshmi at EdTech, our deep focus is on learning outcomes and the success of our students’ lives. Values return. We are extremely grateful to our team of leaders for staying true to our mission and for helping to take LEAD to all corners of the country. This is a small milestone in our quest for education. ”
Sandeep Singal, Managing Director, Westbridge Capital, said: “We are very proud of LEAD’s success as the largest school adtech provider in India. Double our investment in helping to transform the education sector in India and touch the lives of millions of students. ”
Deborah Quajo, Managing Partner, GSV Ventures, said, “LEAD has emerged as the gold standard for transforming K-12 education in India. We, at GSV, believe that the Mastery Guarantee is a revolutionary offer in K12 education and has the potential to be socially transformative for students. With this powerful and unique value proposition and exceptional management team, LEAD is the largest in the world. And the most influential school is on its way to becoming an Adtech company. ”
The company’s valuation has doubled in the last 9 months on the back of strong growth in operating and financial metrics. The current round is the fifth round of institutional funding since 2017.
Founded in 2012 by Sumit Yashpal Mehta and Smita Deorah, LEAD is transforming core schooling in India with its innovative full-stack school EdTech solution. Over the years, LEAD has made world-class education accessible and affordable for students, especially in non-metro cities. The curriculum of a LEAD-powered school is benchmarked with the best in the world, including schools in Singapore, Canada and the USA.
LEAD is a leading player in the School Adtech category in India, promoted by Sumit Yashpal Mehta and Smita Deorah, with the aim of transforming school education in India. It integrates technology, curriculum, and pedagogy into an integrated system of teaching and learning, thus improving student learning outcomes and teacher performance in schools across the country.
LEAD’s innovative and highly effective integrated education system significantly strengthens the role of schools, teachers and parents in the overall growth and development of every child through the provision of quality education.
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