Home grown ed-tech player Leverage Edu announced the close of its Rs 47 crore Series A financing which was led by Tomorrow Capital. Existing investors Blume Ventures and DSG Consumer Partners also participated in the round and pumped in Rs 20.5 crore. With this, Leverage Edu has now raised about Rs 60 crore across 3 rounds.
Founded in 2017, the platform helps student discover the right program and identify the right match for a higher education option. As of today, the startup operates platforms LeverageEdu.com, UniValley.com, Ivy100.com, and virtual fair platform UniConnect.
Rohini Prakash, CEO, Tomorrow Capital, said, "India is one of the largest global suppliers of international students and yet the biggest brands helping students in their admissions come from destination countries like the USA, Canada and Australia, who don't understand the unique perspectives and problems that the Indian student faces. We believe it is inevitable that the next stellar brand in the global cross-border education space will be a home-grown one."
Akshay Chaturvedi, founder and CEO, Leverage Edu said, "The latest round of funding will be used to accelerate the company’s strategic expansion into newer markets, bring in more product innovation, and deepen our student-first approach with more focus on pedagogy and student-first tools."
Alongside institutional financing, the startup also saw investments coming in from an angel consortium led by Karan Khemka which includes Partners of the education consulting firm LEK. Leverage Edu also counts Vishal Gondal of Goqii, Ash Lilani of Saama Capital, Amrish Rau of Pine Labs, Chaitanya Rathi of Sula Wines, among others on its cap table.
Leverage Edu has two main verticals -- first, it counsels students to select the right program, country based on their mentoring workshops, helping them apply to universities and colleges across the world via its student platform OneView, and then subsequently providing them value-added services like education loan, VISA, forex, accommodation options - making it a one-stop shop for the student.
The second part of Leverage Edu’s business is on the university side, a SaaS-enabled platform called Univalley.com, which helps Universities find best-matched talent for their diverse programs.
“Our immediate goal from here is very clear. We want to focus on a few things and do them really really well. There is also this myth around foreign education being expensive that we’ve now been busting for last four years. 18 months from now, we want to be among the top study abroad companies in India, both by number of students and a roof-hitting NPS - because a happy student is why we are all really motivated everyday to do this!," said Chaturvedi.
(Edited by : Jomy)
First Published: Feb 18, 2021 6:57 PM IST
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