Companies

Edtech start-up Leap raises $75 million in Series D round led by Owl Ventures

Haripriya Sureban | | Updated on: Jun 22, 2022
Arnav Kumar and Vaibhav Singh, Co-founders of Leap

Arnav Kumar and Vaibhav Singh, Co-founders of Leap

The funds will be used towards increasing the product offerings, expanding to more geographies internationally, and strengthening the current operations

Edtech start-up Leap has raised $75 million in a Series D funding round led by Owl Ventures. The round saw participation from new investors, Steadview Capital and Paramark Ventures.

Existing investors Jungle Ventures and Sequoia Capital India also participated in the round. The start-up has now raised over $150 million in equity since it was founded in 2019.

Vaibhav Singh, Co-founder, Leap told BusinessLine, “The funds will be used towards increasing the product offerings, expanding to more geographies internationally, and strengthening the current operations.” Leap intends to have a presence in 10 countries over the next 18 months. While a presence is already established in the UAE and Bangladesh, expansion across South-east Asia and the Middle East is being looked at, he added.

Growth initiatives

In recent months, Leap has undertaken several new growth initiatives. In April, the company announced a partnership with Colorado State University, USA, bringing the university’s MCIS programme to Indian students in a unique multi-geography hybrid format, at a lower cost. More such innovative offerings are in the pipeline across Leap’s more than 750 global university partners, said the company.

Arnav Kumar, Co-founder, Leap, said, “Having built the underlying infrastructure for global student mobility, we are now able to scale rapidly across multiple dimensions. Ensuring student success has been our mission, and we will continue to deepen our existing offerings and launch new ones in the months ahead.”

Nearly 175,000 students are expected to study abroad by utilising at least one Leap product. Last year, more than 60,000 of its students travelled abroad using at least one Leap product.

Leap, which runs LeapScholar, LeapFinance, and Yocket, is a full-stack international student mobility platform. The company runs an online community of study abroad aspirants with over two million students.

Published on June 22, 2022
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