Another edtech company, LEAD School has raised $28 million in a Series C funding round. WestBridge capital along with the existing investor Elevar Equity led this round.
|Announced Date||Transaction Name||Number of Investors||Money Raised||Lead Investors|
|Aug 21, 2020||Series C – LEAD School||2||$28M||WestBridge|
|Sep 1, 2019||Series B – LEAD School||1||$7M||Elevar Equity|
|Jul 1, 2017||Series A – LEAD School||1||$1M||Elevar Equity|
The Mumbai-based company plans to use this funding to accelerate the development and rollout new product offerings. It also plans to hire new talent across various domains. The company is primarily targeting private schools in Tier 2-3 cities to expand its school network. LEAD School is also looking to use this capital to grow its sales channels and sign up new customers. It will also seek to enhance its technology offerings to help schools better monitor and improve student learning outcomes.
Founded in 2012 by Sumeet Mehta and Smita Deorah, LEAD School combines technology and curriculum into an integrated system of teaching and learning to create affordable private schools. It claims to have partnered with 800-plus schools with an estimated 3,00,000+ students in more than 300 cities in 15 states. Currently, 80-85% of its customers include affordable private schools in Tier 2, 3 and 4 towns.
According to Entrackr, LEAD School has been valued north of Rs 1,180 crore (post-money), a 3.15X jump as compared to its valuation in the last round. The company had raised Rs 20 crore from Elevar Equity at Rs 375 crore valuation in 2019.
The online education has seen a big boost since the Covid-19 pandemic. Along with the e-commerce sector, this space has seen major investements and upscale by the companies. BYJU’S recently acquired coding platform WhiteHat Jr. in one of the best deals for a startup. Edtech startup Toppr also raised Rs 350 crore in a Series D funding round. Even Eduvanz, a fintech providing loan to students, has raised $5.5 million.
LEAD School has 4 current team members, including Chief Product & Technology Officer Siddhartha Srivastava.
- Siddhartha Srivastava, Chief Product & Technology Officer
- Sumeet Mehta, Co-founder & Chief Executive Officer
- Sumit Agarwal, Chief Financial Officer
- Smita Deorah, Co-founder, Chief Learning Officer & COO