Edtech startup Lead, previously LEAD School, has raised Series E funding of $100 million at a valuation of $1.1 billion. The first edtech unicorn of 2022 is also the first school edtech player to enter the coveted club.
The round, led by WestBridge Capital. The round also saw participation from GSV Ventures. This is one of their largest edtech investments to fuel the company’s plans. The company’s valuation has doubled in the last nine months on the back of strong growth in its operating and financial metrics. The current round is its fifth round of institutional funding since 2017.
LEAD will use the proceeds to achieve its vision of providing quality affordable education to 25 million+ students with an annual revenue run rate of $1 billion. The immediate focus will be on product and curriculum innovation, growth in its footprint, and hiring top talent across functions.