Mumbai-based edtech startup Lead School has raised US$ 28M in series C fund led by WestBridge Capital. Its participants included existing investor Elevar Equity, which had infused US$ 8M in Series A, B round of the company.
The funds raised will be used to target and onboard more schools from Tier 2 cities and beyond. Lead School is looking forward to grow its sales channels, get new customers and improve its technology offerings. According to the startup, around 80-85% of its customers are affordable private schools in Tier 2,3 and 4 cities. It has also expanded its network from 150 to 800 schools in past 1 year.
Lead School offers technology solutions to schools and teachers in order to digitise the learning experience for students. It was founded in 2012 by Sumeet Mehta and Smita Deorah. The startup wishes to maintain its growth momentum amid the pandemic as well.
“Affordable schools in small towns is where the problem is. In metros, the teachers are doing a great job. But in small towns, the parent aspiration is high, but teacher skill is low, and that’s the sweet spot where we work,” said CEO Sumeet Mehta.
With the help of Lead School’s advanced technology, schools can monitor the performance of students. Parents can also monitor their child’s academic performance.
Lead School says that the pandemic has strengthened its market position as more and more schools are adopting online learning. “Previously, schools were hesitant to adopt technology, but Covid-19 has shown people that the age-old ways are not going to work,” said Sumeet Mehta.
After investing in edtech Vedantu, this is the second biggest investment for WestBridge. “We see great potential in Lead School, given their innovative and focused approach in ensuring accessible, quality school-level education for all,” said Sandeep Singhal, managing director of WestBridge Capital.
