GrowthX (GrowthX.club), a social learning community of the top 1% of growth leaders, announced that 212 angel investors contributed to its seed round. This historic community-led fundraising in the Indian startup ecosystem saw participation from 200+ founders, leaders and operators across companies like Razorpay, Airbnb, Mamaearth, Meesho, Myntra, and Freshworks. Out of the 1.5 Million USD raised, incredibly, 65% of the funds were raised from GrowthX’s own community members. The round was led by Better Capital as the single largest entity.
Before GrowthX became a business in April 2020, it was a community that helped founders and operators accelerate their careers. Unlike most Edtechs which are focused on getting your first job, GrowthX helps its members navigate the complicated path from operator to manager to leader.
It does this via a year long experience, providing access to seven ingredients for professional growth – growth frameworks, networking with top talent, mentor led learning, job opportunities in breakout roles, quora for growth, personal branding and access to hire top talent
The application to become a member involves 2 rounds with the current acceptance rate at 9%. At present, members belong to 1000+ tech companies ranging from Google, Facebook, Razorpay, Amazon, CRED, Flipkart, Canva, Spotify, Adobe, Meesho, OYO, Freshworks, PayTM, Dream11, Zoho, Cisco, Khatabook, Udaan, MobiKwik, Kotak, HDFC, ICICI, etc.
Commenting on the fundraise, Udayan Walvekar, CEO & Co-Founder of GrowthX said, “We are humbled by the fact that the majority of our fund was raised from GrowthX’s own community. This is a true testament to the trust and value we have been able to create for founders and operators. As we continue to expand, we hope to fundamentally change the way operators and founders think about growth.”
Practicing what they preach, GrowthX has been profitable since day 1, has almost zero cost of acquisition and an NPS of 78. They are using the funding infusion to invest into product, pedagogy & tech.
Abhishek Patil, co-founder of GrowthX said, “Moonshots or shortcuts to growth are a myth and in fact, self-destructive. Growth is a mindset and is meant to be sustainable; in the short and mid-term, we are looking to change the way top operators & founders develop a mindset that will significantly impact the way people are hired and promoted.”
On why he decided to invest in GrowthX, Harshil Mathur, CEO at Razorpay & Partner at MarsShot said, “Product and growth problems require a structured approach and professionals with this skill are incredibly difficult to come by at the moment. GrowthX is doing a great job at filling this gap by building a phenomenal community of talent with the ability to solve any growth problem.I believe the founders are doing a great job building the next generation of top growth professionals.’’
Vaibhav Domkundwar, CEO at Better Capital said, “GrowthX is productizing the most important aspect of building and scaling a company – that of product & growth and we are excited to be founding stage partners to Udayan & Abhishek. We believe GrowthX has the potential to power the fastest growing companies in India & globally based on our first hand experience with our portfolio founders.”
The fund infusion and active support of the angels will be used for pedagogical and experiential innovations for the members. A long-term compounding mindset must be infused across the ecosystem to deliver long-term compounding results to organizations no matter the domain or size. GrowthX has enabled countless success stories for its members, helping some transition into breakout roles in product and growth, or move from managerial to leadership roles, or helping founders hire the right person. The new funds will accelerate GrowthX‘s ability to enable more life-changing outcomes to its members.