LEAD is an edtech unicorn that provides online learning solutions to schools and educational institutions. The edtech firm announced a 28.6 percent increase in its operational revenue to Rs 351 crore in FY24. The startup provides admission marketing solutions, student development, and a teaching capability system. The sale of products and platform services is the company’s primary source of revenue.
The learning platform also earns income through non-operating services contributing Rs 19 crore. This increased the company’s total revenue to Rs 370 crore in FY24. Product sales accounted for 79 percent of the total income and increased by 35 percent to Rs 276 crore in the same period. This edtech unicorn provides educational resources to schools, smart classes, workbooks, teacher manuals, ERPs, and more. The company works closely with 8,000 schools in over 400 cities.
The startup has secured over 180 million USD across multiple funding rounds since its inception, including $100 million raised during its round led by WestBridge Capital. Following this round in 2022, the firm received its unicorn status and joined the unicorn club. The company’s existing investor Westbridge Capital is the firm’s largest stakeholder with a 27.58 percent stake followed by Elevar Equity. Sumeet Mehta and Smita Deorah, the co-founders of LEAD account for 32.7 percent stakes in the company.
The Mumbai-based startup provides services to various educational institutes. The cost of products stood at Rs 126 crore in FY24. The advertisement, donations, legal, and other overhead expenses decreased in this financial year. The firm’s total expenditure also decreased by 16.9 percent and stood at Rs 513 crore in the same duration. The company also noticed a 28.6 percent increase in scale. The company aims to improve its services and strengthen its position in the edtech market.
The startup posted a 39 percent decrease in its employee benefits which stood at Rs 174 crore in FY24. This cost accounted for 34 percent of the overall expenses. The company controlled its losses by 55.6 percent to Rs 143 Crore for this financial year. LEAD achieved a positive EBITDA in the first quarter of the ongoing financial year FY25. The EBITDA margin improved and stood at -15.68 percent in FY24 while the ROCE was around -46.9 percent in the same duration. LEAD faces competition from other online education service providers such as PowerSchool, Uolo, and Teachmint.
Conclusion :
The edtech unicorn LEAD announced a 28.6 percent growth in its revenue from operations to Rs 351 crore in FY24. This Mumbai-based company provides education services and an integrated school system. These platform services and product sales are the firm’s primary sources of revenue. The company posted a 55.6 percent cut in its losses to Rs 143 crore in FY24.
Employee benefit expenses decreased by 39 percent to Rs 174 crore in the same duration. The company has secured over 180 million USD across multiple funding rounds and competes with other education services offering platforms like Teachmint.
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