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LEAD School, a K-12 ed-tech firm, has raised $30 million in a Series-D funding round led by VC fund GSV Ventures along with WestBridge, an existing investor.
The company will use the funding to accelerate growth by building a pan-India brand, rollout of new product offerings, strategic acquisitions and hiring top talent across domains.
LEAD School Raises $28 million in Series C funding
This follows a Series-C funding of $28 million led by WestBridge and Elevar Equity in August 2020 and the acquisition of student assessment startup QuizNext in December 2020. For the company, the current round is the fourth round of institutional funding since its first investment led by Elevar in 2017, who continues to be a major shareholder.
Integrated System for schools
LEAD School Co-founder and CEO Sumeet Mehta said, “We are impatient to reach out to the 1.5 million schools and 260 million school-going children in India so that we can transform the arc of education in this country. Globally, GSV is known as a specialised ed-tech fund that backs innovation-oriented education companies. We hope to benefit from their deep insights and leverage their network to bring more innovation to our students in India. WestBridge has been a great partner and their continued support shows their faith in the difference we are making to our schools and students”.
Taking the Lead in English-medium schooling
The company’s Integrated System for schools has driven three times growth in 2020 by helping schools deliver uninterrupted learning whether online, hybrid or in physical classrooms. Having reached a milestone of 2,000 schools catering to over 8 lakh students, LEAD plans to increase this to 25,000 schools in the next five years.
WestBridge Capital Co-founder Sandeep Singhal, said, “In the last few months, the ed-tech sector has evolved rapidly, changing the trajectory of the Indian education system. We see great potential in LEAD School, given their innovative and focused approach in ensuring accessible, quality school-level education for all. As a firm, we believe in investing in ventures that have a largescale impact and are convinced LEAD School will create a strong positive impact on the educational outcomes of millions of young minds”.
Founded by Sumeet Mehta and Smita Deorah in 2012, the company initially began operations by running affordable schools and teaching middle-school students.
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