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Pune-based Martech startup focused on the education sector ExtraaEdge has raised $1 million in a pre-Series A round funding led by Pentathlon Ventures.
Led by Pentathlon Ventures, the round also saw participation from 9Unicorns, Indian Angel Network (IAN), Faad Network, and DevX Innovation.
Along with the existing investors as Sprout Venture Partners, and TiE Pune Angels, the round also saw the participation from other prominent angels like Monish Darda (Co-Founder & CTO, Icertis a SaaS Unicorn ), Manasij Ganguly ( ex CEO – Threadsol ) & Aditya Somani ( ex – Premji Invest).
“The company plans to infuse fresh funds for expansion of its customer base, bolstering product development primarily in the area of robotic process automation and data science team, as well as expanding into the international markets,” ExtraaEdge in its statement said.
Founded in 2015 by Abhishek Ballabh and Sushil Mundada, ExtraaEdge is a new-age, vertical SaaS marketing technology player in the education marketing industry. It leverages its full-stack revenue assurance platform and CRM software to help the education industry increase, manage & predict their admissions while automating their entire sales and leads processes. Its goal is to empower admission teams across the globe to make smart, data-driven decisions to maximize admission outcomes, optimize market expenditure, and boost conversion rates.
Speaking on the funding, Abhishek Ballabh, Co-Founder ExtraaEdge, says, “We currently enable the 225+ education brands to digitally acquire the next thousands of GenZ & millennial students. This fund-raise will help us cement our category leadership as the leading admission technology player in the Indian market, double down on product capabilities to power admission teams, and look at a wider global expansion.”
Commenting on investing in ExtraaEdge, Sandeep Chawda, Partner, Pentathlon Ventures, says, “Technological disruption has brought education institutes face-to-face with Digital Darwinism. As institutes evolve to survive, we are seeing an exciting shift in how they leverage marketing automation and predictive analytics to acquire customers. This is a billion-dollar opportunity that ExtraaEdge is capturing at an impressive rate.”
“Their team and product exhibit a DNA of scale, proven by a solid client base and consistent ARR growth despite the pandemic. This strong DNA, the energy, the maturity, and the know-how that Abhishek and Sushil possess make us confident that ExtraaEdge will emerge as a winner,” Sandeep added.
Talking about the funding, Dr. Apoorv Ranjan Sharma, Co-founder & Managing Director – 9Unicorns, in his statement said, “We were quite impressed with the team’s execution capabilities. Abhishek & Sushil are founders who have found a product-market fit in this domain which is existential for success & we found them persistent & passionate. ExtraaEdge is addressing this need-gap which is an untapped market yet.”
“Their ability to use data analytics to drive client acquisition and streamline the admission process makes them well-equipped to disrupt India’s education market valued at USD 1.5 billion. The start-up’s innovative approach will be the recipient of countless positive feedbacks from the burgeoning education industry and we are thrilled to be their partner on this journey,” he added.