LEAD, a school edtech company, has announced an ESOP liquidation plan of close to $3 million for its employees. About 20 per cent of its employees own ESOPs. In the past, LEAD has awarded performance-based ESOPs to its employees for their good results. The current initiative is rather significant as the Company doubled in value in the last nine months thanks to solid growth in its operating and financial metrics.
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.
“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,” says Sumeet Mehta, co-founder & CEO, LEAD.
LEAD has transformed school learning 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 Company envisions transforming the lives of 25 million students in 60,000 schools by 2026, through School EdTech.
