ExtraaEdge, an admissions and marketing technology startup, has secured $1 million in a pre-Series A round from Pentathlon Ventures and existing investors Sprout Venture Partners and TiE Pune Angels.
9Unicorns, IAN, Faad Network, and DevX Innovation also participated in the round, along with Monish Darda, cofounder of SaaS unicorn Icertis, Manasij Ganguly, CEO of ThreadSol, and Aditya Somani, former vice president of Premji Invest.
Founded by Abhishek Ballabh and Sushil Mundada in 2015, ExtraaEdge is a SaaS startup that offers digital tools to educational institutions for admissions and marketing. It helps institutes in increasing, managing, and predicting their admissions pipeline while automating their sales.
The freshly acquired funds will be utilized to strengthen its customer base, boost product development, and expand its data science team. ExtraaEdge will also be planning to expand its operations in international markets; it already has a presence in the UK and UAE.
The platform presently manages a range of operations, from marketing to admissions, of over 225 educational institutes in India and abroad.
Co-founder and CEO Ballabh said, “As conventional marketing processes get digitized across sectors, the education segment is also taking a leap on this front.”
Sandeep Chawda, a partner at Pentathlon Ventures, said, “The education industry’s return on investment on marketing was already lagging when the pandemic brought disruption and forced a move to digital. We see this as a sizable opportunity for software-led automation and artificial intelligence (AI) in student acquisition. ExtraaEdge’s focus on this space and a deep understanding of the problem is their advantage.”