Leverage Edu Raises $22 Million In Series B
The round saw participation from a consortium of funds, family offices and angels investors
Global Study Abroad platform Leverage Edu, has raised $22 million in Series B round of funding. The round saw participation from a consortium of funds, family offices and angels. These included Kaizenvest Private Equity, DSP Mutual Fund Group, Artha Ventures, UAE-based NB Ventures, 9Unicorns, Blume Ventures, DSG Consumer Partners, Tomorrow Capital. Chona Group (behind Havmor), FMCG player Vicco, Mankind Pharma and other family offices joined the round. Trifecta Ventures and Bennett Coleman (Times Group) also invested.
Prominent individual investors like Morgan Stanley MD Hemant Gupta, CRED founder Kunal Shah, BookMyShow founder Ashish Hemrajani, True North Partner Haresh Chawla, Lenskart founder Peyush Bansal, ShareChat founder Farid Ahsan, Hotcourses (sold to IDP) founder Mark O'Donoghue, Skyflow's Anshu Sharma, Eragon Ventures MD Pranabh Mody, Dynamic IT Director Henry Kane, Jio President Vikas Choudhary, entrepreneur-author Ankur Warikoo, OYO SEA CEO Ankit Tandon, among others participated in the round.
"We have grown over 12 times in revenue between February 2021 to 2022 and are at a $20 million annualized revenue milestone now. The team has done this while cutting CAC by crazy 2/3rds - thanks to over 20 per cent of our business now coming from referrals, another 35 per cent from a bunch of slick product-channels like virtual fair platform UniConnect, IELTS-prep product Leverage Live, the uber-popular AI Course Finder and a growing double digit from our organic traffic which is now the largest in the world for the category at 30 million last year and an expected 100 million this year," said Akshay Chaturvedi CEO and founder of Leverage Edu.
"The end to end financing piece of LeverageEdu, which I believe is still in pilot, is a game changer. While solving a massive problem for students and parents, financial services is in itself a multi-billion dollar opportunity for LeverageEdu and the initial traction has been beyond our wildest expectations," said Anirudh Damani, managing partner at Artha Ventures.