Direct, beforehand known as Guide College, right now announced elevating of $100 million in refreshing cash as a aspect of its Series E funding spherical. The round was led by WestBridge Capital and GSV Ventures, 1 of their largest edtech investments. The funding spherical pus LEAD’s valuation at $1.1 billion. The unicorn had raised $30 million in April final 12 months.
With this, Direct also gets to be the 3rd unicorn this 12 months, following D2C player Mamaearth and AI firm Fractal, and the very first university edtech unicorn at any time. In addition, it joins an unique record that includes Byju’s, Unacademy, Eruditus, UpGrad, and Vedantu as the sixth edtech unicorn of India.
The proceeds from the funding spherical will be used to innovating its products and curriculum, increasing its footprint, and employing leading talent across capabilities. Its long-expression purpose is to deepen its footprint in the country and clock overseas expansion, as properly as get to more than 25 million students and raise its once-a-year income operate-level to $1 billion.
Guide, established by Sumeet Yashpal Mehta and Smita Deorah in 2012, delivers tech-enabled solutions to educational facilities with a concentrate on digital learning through an on the internet or hybrid product of school rooms. Compared with its fellow edtech corporations, which offer training in K-12 or Better training, Lead functions with universities and focuses to completely transform core education across the country.
It already functions with 5,000 colleges across above 500 cities, encouraging them safe textbooks and other assets from sellers and giving tech-built-in methods and modern day discovering tools this sort of as Trainer Tablets, which come with pre-loaded Direct Teachers’ Application & video written content.
“We believe that in EdTech, Saraswati precedes Lakshmi. Our powerful aim has been on the studying outcomes and life accomplishment of our pupils. And this has resulted in not only strong adoption and retention by colleges but also interest from traders who worth returns with real influence. We’re particularly grateful to our group of LEADers for staying correct to our mission and assisting take Lead to all corners of the place. And we’re fortuitous to have the have faith in and aid of companions this sort of as WestBridge, Elevar Equity, and GSV in this journey. This is a modest milestone in our quest toward an superb training for every little one,” explained Direct co-founders Sumeet Yashpal Mehta and Smita Deorah.