LEAD Edtech Appoints Arpit Jain as CFO and Arvind Singhal as CGO
By siliconindia | Thursday, 25 January 2024, 09:57 IST
LEAD, the prominent Edtech unicorn, fortifies its leadership team by welcoming Arpit Jain as Chief Financial Officer and Arvind Singhal as Chief Growth Officer. This strategic move aligns with significant shifts in the edtech sector. Arvind Singhal, previously COO at Vedantu, will spearhead LEAD's growth strategy, while Arpit Jain, a former executive at Marico, will oversee finance and legal functions. Sumeet Mehta, Co-Founder and CEO of LEAD, underscores the wealth of experience and successful track records that Arvind and Arpit bring to the table, stating, 'Collectively, Arvind and Arpit contribute decades of valuable experience and a proven history of financial and operational success'.
Jain, a Chartered Accountant with more than 11 years of experience at FMCG giant Marico, held various roles, including CFO-Digital Business and Head of Mergers and Acquisitions. On the other hand, Singhal has an extensive background in executive positions at Vedantu and other notable companies such as BlackBuck, BlueStone, TFS/Ola, McDonald’s, Reliance Communications, Nokia, and Marico. The strategic guidance provided by this duo is expected to hasten the adoption of edtech solutions in schools throughout India, aligning with LEAD's expansion initiatives into new regions and the growth within existing school networks.
Established in 2012 by Sumeet Mehta and Smita Deorah, LEAD offers a comprehensive integrated system for schools, catering to over 9,000 schools, 50,000 teachers, and five million students across India. In 2023, LEAD ventured into the high-fee school segment through the acquisition of Pearson’s local K-12 learning business. Mehta outlines LEAD’s ambitious objectives, stating, 'It aims to enhance learning outcomes for 25 million students in 60,000 schools by 2028'. The company reported a reduced loss of Rs 321.9 crore in FY23, marking an 18.5% decrease from the previous fiscal year, while operating revenue surged by 106.4% to Rs 273.2 crore. LEAD has secured over $171 million in funding to date, including a recent $20 million debt round in January 2023 and a $100 million Series E round in 2022 led by WestBridge Capital and GSV Ventures, valuing the company at $1.1 billion.
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