LEAD, a school edtech platform, announced on Thursday that it has raised $100 million in a Series E fundraising round led by WestBridge Capital and GSV Ventures at a unicorn value.
The company, launched in 2012 by Sumeet Yashpal Mehta and Smita Deorah, is banking on a boom in demand for online education as a result of the coronavirus-related lockdowns. In 2020-21, the company, like many other edtech companies, saw strong revenue growth (FY21).
“LEAD’s growth last year, despite COVID disruptions, underlines its consumer first approach and deep focus on learning outcomes. We are excited to double down our investment in LEAD, to support in its mission of transforming the education sector in India and touching lives of millions of students,” said Sandeep Singhal, Managing Director, WestBridge Capital.