Edtech Unicorn LEAD Announces ESOP Liquidation Plan Of $3M
India’s foremost School EdTech Unicorn, LEAD, announced an ESOP Liquidation Plan of close to USD 3 million for its employees. The announcement comes at a time when LEAD is aiming to move towards a high growth trajectory post the recent Series E Fundraise of $100 million led by WestBridge Capital with participation from GSV Ventures. The company attained Unicorn status with this funding at a valuation of $1.1 billion, making it India’s first Edtech Unicorn of 2022.
LEAD is known to have a more broad-based ESOP approach with close to 20% of its employees owning ESOPs. It has in the past awarded generous performance ESOPs to reward employees for their results. The current ESOP liquidation plan is a significant opportunity given that LEAD's valuation has doubled in the last nine months on the back of solid growth in its operating and financial metrics.
LEAD Cofounder & CEO, Sumeet Mehta said, “Our success would not have been possible without the relentless efforts of our teams. I'm delighted that we are in a position to offer significant wealth creation opportunities to those who have joined us on our mission to provide an excellent education to every child. We have also included our Alumni in the Liquidation Plan because they continue to remain ambassadors of LEAD.”
LEAD has created a niche for itself in the EdTech industry over the years by transforming core schooling in India with its innovative full-stack School EdTech solutions. Over the years, LEAD has been making international standard education accessible and affordable to students, especially in non-metro cities. The curriculum in a LEAD Powered School is at par with the best in the world, including schools in Singapore, Canada, and the USA.
The company envisions transforming the lives of 25 million students in 60,000 schools by 2026 through School EdTech.
