Lead School has raised $100 million in a funding round led by GSV Ventures and WestBridge Capital, doubling its valuation to $1.1 billion. The company provides tech-enabled solutions to schools with a focus on digital learning on the hybrid model. The funding round makes Lead School the third startup to enter India’s unicorn club in 2022. “In K-12, everyone has been trying to direct the students by the schools. And everyone focuses on test prep and tuition. Because people think that schools cannot be improved. But we thought differently,” Sumeet Mehta, co-founder of Lead School, said.
Lead School works with 5,000 schools in 500 cities. The company wants to reach 2 million students in the country. Mehta said that the startup had hit an annual contract value of $80 million in the financial year 2021-22. Lead adopts an outcome orientation for schools. Students’ learning outcomes have improved by 20 to 25 per cent. This funding will feed much-needed innovation towards schools in India,” Mehta added.