Lead School, an edtech company, has raised $100 million at a $1.1 billion value. WestBridge Capital and GSV Ventures led the Series E funding round.
The profits will be used to help the company realize its objective of providing high-quality, low-cost education to 25 million or more students with an annual revenue run-rate of $1 billion. The company’s immediate priorities would be product and curriculum innovation, expansion of its reach, and acquiring top people across all functions. In the long run, the company wants to expand abroad in similar geographies and move deeper in the country to assist children in lower fee institutions, according to a press statement.
Established in 2012, co-founders Sumeet Yashpal Mehta and Smita Deorah said, “Our intense focus has been on our students’ learning outcomes and life success. And this has resulted in not only strong adoption and retention by schools but also interest from investors who value returns with real impact.”
WestBridge Capital Managing Director Sandeep Singhal stated, “We are excited to double down our investment in LEAD, to support in its mission of transforming the education sector in India and touching lives of millions of students.”
GSV Ventures Managing Partner Deborah Quazzo told, “With this strong and unique value proposition and exceptional management team, LEAD is well on its path to become world’s largest and most impactful School EdTech company.”
On the back of tremendous growth in its operating and financial measures, the company’s valuation has doubled in the last nine months. Since 2017, the current round is the organization’s fifth round of institutional funding.