ExtraaEdge, a Pune-based martech startup focussed on the education sector, on Wednesday said it has raised $1 million in a pre-Series A round from Pentathlon Ventures. The round also saw participation from 9Unicorns, Indian Angel Network, Faad Network, and DevX Innovation.
Existing investors Sprout Venture Partners and TiE Pune Angels, and prominent angels, including Monish Darda (Co-founder and CTO, Icertis), Manasij Ganguly (ex-CEO, Threadsol), and Aditya Somani (ex-Premji Invest) also participated in the round.
Founded in 2015 by Abhishek Ballabh and Sushil Mundada, ExtraaEdge is a vertical SaaS martech startup in the education marketing industry that helps increase, manage, and predict the education sector’s admissions via leveraging its full-stack revenue assurance platform and CRM software. It also helps automate their entire sales and leads processes.
Speaking about the new development, Abhishek Ballabh, Co-founder, ExtraaEdge, said,
“Education institutes and other important stakeholders of the ecosystem are on the lookout for a technology stack to run their admissions process seamlessly… ExtraaEdge is building that stack via leveraging machine learning and new-age marketing automation to make admission predictable. We currently enable the 225+ education brands to digitally acquire the next thousands of Gen – Z and millennial students.”
“This fund-raise will help us cement our category leadership as the leading admission technology player in the Indian market, double down on product capabilities to power admission teams, and look at a wider global expansion,” added Abhishek.
Commenting on the investment, Sandeep Chawda, Partner, Pentathlon Ventures, stated,
“Technological disruption has brought education institutes face-to-face with Digital Darwinism. As institutes evolve to survive, we are seeing a shift in how they leverage marketing automation and predictive analytics to acquire customers. This is a billion-dollar opportunity that ExtraaEdge is capturing at an impressive rate. Their team and product exhibit a DNA of scale, proven by a solid client base and consistent ARR growth despite the pandemic.”
Adding to this, Apoorv Ranjan Sharma, Co-founder and Managing Director, 9Unicorns, said,
“ExtraaEdge’s ability to use data analytics to drive client acquisition and streamline the admission process makes them well-equipped to disrupt India’s education market, valued at $1.5 billion. The startup’s innovative approach will be the recipient of countless positive feedbacks from the burgeoning education industry, and we are thrilled to be their partner on this journey.”