[Funding alert] Pune martech startup ExtraaEdge raises $1M in pre-Series A round led by Pentathlon Ventures
Indian Angel Network, , and Innovation., 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 ,
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.
ExtraaEdge Co-Founders(L:R) Sushil Mundada, Abhishek Ballabh
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.”