LEAD Becomes First ‘EdTech Unicorn’ Of 2022
The edtech platform raised $100 mn in funding led by WestBridge Capital and GSV Ventures
LEAD Co-founders (LtoR) Smita Deorah and Sumeet Mehta
LEAD, a School EdTech platform, has raised $100 million at a valuation of $1.1 billion to continue its mission of transforming schools in India.
This funding creates history on several fronts, including:
- LEAD is now the first School EdTech player to enter the Unicorn club
- LEAD is the first EdTech Unicorn of 2022
The Series E funding round was led by WestBridge Capital and GSV Ventures, making this one of their largest EdTech investment to fuel the company’s ambitious vision of providing quality education.
The company plans to use the proceeds to achieve its vision of providing quality affordable education to 25 million+ students with an annual revenue run-rate of $1 Bn. The immediate focus would be towards product and curriculum innovation, growth in its footprint and hiring top talent across functions. In the long term, the company plans to go deeper in the country to serve students in lower fee schools and expand internationally in similar geographies.
The company’s valuation has doubled in the last 9 months on the back of strong growth in its operating and financial metrics. The current round is its fifth round of institutional funding since 2017.
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