Round Type
Funding Round
NoidaFinancial ServicesSoftwareDescription
Global education testing and assessment organisation Educational Testing Service (ETS) has led a new funding round in study abroad platform Leverage Edu, at least three people aware of the development told ET.Equity portion of the round is estimated at $25-27 million, with overall fundraise including debt touching $40 million, they said.Powered ByVideo Player is loading.Play VideoPlaySkip BackwardUnmuteCurrent Time 0:00/Duration 50:03Loaded: 0.66%00:00Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -50:03 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Trackdefault, selectedPicture-in-PictureFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentText BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentTransparentCaption Area BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.AdvertisementThe funding round is likely to value the startup at roughly $150 million post-money, they said.This is a 25% bump in its previous valuation back in March 2022, when Leverage Edu raised $22 million from a consortium of funds, family offices and individual angels.The latest round will see participation from existing investors, people cited above said.The company is backed by the likes of Blume Ventures, DSG Consumer Partners and Tomorrow Capital.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesLeverage Edu and ETS did not respond to ET’s queries on the matter until press time on Sunday.The fundraise comes at a time when Indian startups have been struggling to raise funds and edtech companies have been facing pressures of waning pandemic growth. Several edtech majors including Byju’s, Unacademy and Vedantu have also laid off employees over the past year in a bid to increase runway.Leverage Edu, which helps students from India, Nigeria and Nepal and other markets to apply to universities abroad, will utilise most of the fresh funds to ramp up its focus towards the US higher education market, people cited above said.“ETS is a strategic investment... The company has discussed with investors that it wants to ramp up its focus on the US market,” one of them said.“It seems to be a part of a larger strategy to de-risk itself by being overly dependent on one particular geography for business,” the person added.Over 75% of admissions Leverage Edu facilitates at present is for UK colleges, with the rest coming from Australia and Canada, the sources said.ETS develops standardised tests, primarily in the United States, and also administers international tests, including the Test of English as a Foreign Language (TOEFL) and Graduate Record Examination (GRE).In August 2022, ETS Global had led a $210-million funding in upGrad, which valued the startup at roughly $2.25 billion
Quick answer
Leverage Edu raised an undisclosed amount in a Funding Round round, dated July 3, 2023. Leverage Edu is based in Noida, Uttar Pradesh, India.
- How much did Leverage Edu raise?
- Leverage Edu raised an undisclosed amount in a Funding Round round on July 3, 2023.
- What does Leverage Edu do?
- We are in the talent mobility business, moving people between countries — helping realise dreams of individuals on one side & needs of nations on the other side.
- Where is Leverage Edu based and how big is it?
- Leverage Edu is based in Noida, Uttar Pradesh, India. Fundz records about 950 employees.
- Who are the decision-makers at Leverage Edu?
- Fundz holds 1 contact at Leverage Edu. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Software around the same time
Companies in the same sectors as Leverage Edu that raised within 45 days of this round, from Fundz verified event records.
- Quility raised an undisclosed amount on August 10, 2023.
- Emtech Solutions raised $4M (Seed) on August 4, 2023.
- Socket raised $20M on August 1, 2023.
- Traction raised $6M (Seed) on August 1, 2023.
- Streamex Corp. raised $2.2M (Seed) on July 31, 2023.
- Cohere raised an undisclosed amount (Funding Round) on July 20, 2023.
Who to call at Leverage Edu, and when
A new round usually means Leverage Edu is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Leverage Edu raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Leverage Edu, from your own LinkedIn network
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