Mumbai based K-12 EdTech platform, LEAD School has raised $30 million in series D round funding led by GSV Ventures along with its existing investor WestBridge.
This funding round follows the Series C funding of $28 million led by WestBridge and Elevar Equity in August 2020 and the acquisition of student assessment startup QuizNext in December 2020.
“The latest funding round will be used by the company to accelerate growth by building a pan India brand, rollout of new product offerings, strategic acquisitions, and hiring top talent across domains,” LEAD School said.
Speaking on the fundraise, LEAD School Co-founder & CEO Sumeet Mehta said, “Smita and I set up LEAD School to bring excellent education to small towns and affordable schools in India. We are impatient to reach out to the 1.5 million schools and 260 million school-going children in India so that we can transform the arc of education in this country.”
“Globally, GSV is known as a specialized EdTech fund that backs innovation-oriented education companies. We hope to benefit from their deep insights and leverage their network to bring more innovation to our students in India. WestBridge has been a great partner and their continued support shows their faith in the difference we are making to our schools and students,” Sumeet added.
Commenting on the funding, GSV Ventures Managing Partner Deborah Quazzo said, “LEAD School is rapidly emerging as a paradigm for transforming K-12 education. Based in India and partnered with affordable school owners (a segment that is larger than the entire US K-12 system), LEAD serves over 800,000 students today. LEAD has experienced tremendous growth because of its consistent delivery of high academic outcomes to students and high ‘return on education’ to teachers, school owners, and parents. GSV is honored to be investing in an organization that is changing the life trajectory of so many students.”
“We see great potential in LEAD School, given their innovative and focused approach in ensuring accessible, quality school-level education for all. As a firm, we believe in investing in ventures that have a large scale impact and are convinced LEAD School will create a strong positive impact on the educational outcomes of millions of young minds,” WestBridge Capital Co-founder Sandeep Singhal added.