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Lead School funding

Edtech startup Lead Schoo has raised $30 million in a Series D funding round led by GSV Ventures. Focused on the education sector, GSV’s portfolio firms include Coursera, Course Hero, and ClassDojo, among others.

Existing investor Westbridge Capital participated in the latest round backing the Mumbai-based company with nearly half of the new capital being raised.

“The proceeds will be used for curriculum and product innovation. Our goal is to continue to reach more schools and students,” said Sumeet Mehta, CEO and co-founder, Lead School. Last year in August, the company had raised $28 million in a funding round led by WestBridge Capital and Elevar Equity. WestBridge is also an investor in Vedantu.

Lead School has collaborated with more than 2,000 schools. “The goal is to reach 25,000 schools in the next five years,” Mehta said. It has been focused on tier two and three cities so far. That will continue to remain their focus. The platform claims it can display a visible enhancement in student learning with its curriculum. Class averages increased from below 60% to above 70% after the adoption of their offering, Mehta said.

Offline tuition centers have turned to the online medium amid the year-long Covid-19 pandemic, according to Mehta. Once schools reopen, students may prefer to study in an offline environment. “We are not trying to ride that wave. We want to ensure that we provide the same level of quality schooling online which students expect offline,” he said.

In December, Lead acquired student assessment and practice platform QuizNext for an undisclosed sum. They are looking to making more acquisitions. “If there are people who have great solutions for students but are unable to build reach, we can do that for them,” Mehta said. It will continue to be in the K-12 segment. “There’s so much to be done in K-12,” he said.

The edtech sector has witnessed a significant rush of investments in the last year with companies like Byju’s leading the crowd. Both funding deals and merger moves have kept the sector busy. 

Lead School is swiftly transforming K-12 education. With the latest funding, the company is looking at great opportunities to grow its business.

Shishir Gupta, Founder and CEO, StartupLanes

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