~ Envisions 2X revenue growth in FY’24 ~
Bangalore, 15th March 2023: LEAD, India’s largest School Edtech company, has completed its acquisition of the local K-12 learning business of Pearson India. The acquisition is a strategic investment for LEAD, which now has the largest portfolio of School Edtech products and services to better serve the learning needs of the entire spectrum of 5 lakh+ private schools in India. With this acquisition, LEAD has widened its reach to improve learning outcomes in 9000+ schools across India.
Sumeet Mehta, Co-Founder and CEO, LEAD, said, “Different school segments in India have very different learning needs. With this acquisition, LEAD aims to serve as a single point solution provider for all the learning needs of both affordable private schools in India’s small towns, as well as private high-fee schools in its metros and large cities. We will build on the combined knowledge, experience and team strengths of both companies to create opportunities for growth and innovation, and to further deepen relationships with our school partners.”
School Edtech is poised for sustained expansion post Covid, driven by the growth aspirations of school owners and related ecosystem stakeholders, and visionary policy initiatives such as NEP 2020. As India’s leading School Edtech company, LEAD is committed to improving learning outcomes by transforming schools across the country. The acquisition of the local K-12 learning business of Pearson India will help fast-track LEAD’s mission of providing high quality, integrated School Edtech solutions to over 60,000 schools across India by 2026. The Board of Directors of both companies approved the acquisition in January 2023 and EY was the exclusive financial advisor to LEAD on the transaction.
In January 2023, LEAD raised ~Rs. 160 crores via a mix of long term capital from Alteria Capital and Stride Ventures, India’s marquee venture debt investors; and working capital financing from prestigious banks such as Standard Chartered Bank, HDFC Bank and ICICI Bank. With the path to profitability for LEAD’s base business of Affordable Private Schools already established through existing capital, the new round of fundraising will help finance LEAD’s organic and inorganic growth plans.