Get All Access for $5/mo

LEAD Becomes First Edtech Unicorn Of 2022 The platform has raised $100 million in Series E funding led by WestBridge Capital and GSV Ventures

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handle

LEAD, India's largest school edtech player, has raised $100 million at a valuation of $1.1 billion to continue its mission of transforming schools in India. With this, Lead becomes the first edtech Unicorn of 2022.

The Series E funding round was led by WestBridge Capital and GSV Ventures.

The company plans to use the proceeds to achieve its vision of providing quality affordable education to 25 million-plus students with an annual revenue run-rate of $1 billion. Immediate focus would be on curriculum innovation, growth 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.

"A child spends six hours in school and only one hour in tuition. Transforming schools, when done right, has massive potential to alter our country's future. LEAD, with its integrated school system, has broken new ground in this direction. Our intense focus has been on learning outcomes and life success of our students and this has resulted in not only strong adoption and retention by schools but also interest from investors who value returns with real impact. We're extremely thankful to our team for staying true to our mission and helping take LEAD to all corners of the country," said LEAD co-founders Sumeet Yashpal Mehta and Smita Deorah in a joint statement.

"We are extremely proud of LEAD's success as the largest school edtech provider in India. LEAD's growth last year, despite COVID-19 disruptions, underlines its consumer first approach and deep focus on learning outcomes. We are excited to double down our investment in LEAD, to support its mission of transforming the education sector in India," said Sandeep Singhal, MD of WestBridge Capital.

The company's valuation has doubled in the last nine 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.

Founded by Sumeet Yashpal Mehta and Smita Deorah in 2012, LEAD has been transforming core schooling in India with its innovative full-stack solution. Over the years, LEAD has been making global-standard education accessible and affordable to students, especially in non-metro cities, added the statement.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Business News

Macy's CEO Confirms Employee Made Accounting Errors Worth $151 Million, Though Not for 'Personal Gain'

The company announced its third-quarter earnings Wednesday after a delay.

Starting a Business

10 Traits of Successful Entrepreneurs That Investors Love (Even If They Seem Like Jerks)

This article explores a thought-provoking question: Why do many successful entrepreneurs exhibit traits that might label them as "jerks?"