Global study abroad platform Leverage Edu has raised $22 million in its Series B financing round.
A consortium of funds, family offices, and individual angels. The list includes Kaizenvest Private Equity, DSP Mutual Fund Group, Artha Ventures, and many more who participated in the round.
Some returning investors were also seen in this round like- Blume Ventures, DSG Consumer Partners, Tomorrow Capital.
Individual investors like Morgan Stanley, CRED, BookMyShow, True North Partner, Lenskart, ShareChat, Hotcourses, Skyflow, Eragon Ventures, Dynamic's IT, Jio, entrepreneur-author, and OYO SEA, among others, participated with individual cheques.
The round valued the company at ~$120 million, as per the press release.
Leverage Edu startup was founded in April 2017 by Akshay Chaturvedi, LeverageEdu’s core business helps universities in the following ways:
In the developed world,
bring onboard students from the emerging world.
They built products for the University ecosystem.
For students, Leverage Edu has built an outcome-focused technology-led counseling platform that facilitates their access to a one-stop dashboard for their entire study abroad journey. “Study Abroad with Leverage Edu'' app was launched last month, which has over 50,000 downloads already.
Leverage had an office in the UK last year and also an Australia office last week — both of which are B2B setups that build products for and serve universities. They facilitate the students of India and Nigeria as its core markets and plan to launch other markets post this fundraiser.
Akshay Chaturvedi, Founder, and CEO, Leverage Edu, said, “We have grown over 12x in revenue between February‘21 and ‘22, and are at a $20 million annualised revenue crossed milestone now. The team has done this while cutting CAC (customer acquisition costs) by crazy two-thirds, thanks to over 20 percent of our business now coming from referrals, another 35 percent from a bunch of slick product channels like virtual fair platform UniConnect, IELTS-prep product Leverage Live, the uber-popular AI Course Finder, and a growing double-digit from our organic traffic which is now the largest in the world for the category at 30 million last year and an expected 100+ million this year.”