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Edtech unicorn LEAD appoints Arpit Jain as CFO and Arvind Singhal as CGO

News update

Edtech unicorn LEAD is strengthening its leadership team, appointing Arpit Jain as CFO and Arvind Singhal as Growth Director. The move is in line with significant shifts underway in the edtech sector. Singhal, formerly COO at Vedant, will lead LEAD’s growth strategy, while Jain, a former executive at Marico, will be in charge of finance and legal functions.

Highlighting the expertise the new appointments bring, Sumeet Mehta, co-founder and CEO of LEAD, states, «Together, Arvind and Arpit bring decades of valuable experience and a proven track record of financial and operational success.»

A Chartered Accountant with over 11 years at FMCG major Marico, Jain has held roles including CFO-Digital Business and Head of Mergers and Acquisitions. Singhal’s background includes senior positions at Vedant and other prominent companies such as BlackBuck, BlueStone, TFS/Ola, McDonald’s, Reliance Communications, Nokia and Marico.

The strategic direction provided by the duo is expected to accelerate school edtech adoption across India, coinciding with LEAD’s efforts to expand into new regions and grow within existing school networks.

Founded in 2012 by Sumeet Mehta and Smita Deorah, LEAD offers a comprehensive integrated system for schools serving more than 9,000 schools, 50,000 teachers and five million students across India. LEAD entered the high-fee school segment in 2023 with the acquisition of Pearson’s local K-12 education company.

Outlining LEAD’s ambitious goals, Mehta says, «It aims to improve learning outcomes for 25 million students in 60,000 schools by 2028.» The company posted a reduced loss of Rs 321.9 crore in FY23, down 18.5 % less than the previous fiscal year, with operating income up 106.4% to Rs 273.2 crore.

LEAD has raised more than $171 million to date, with 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 valued at $1.1 billion .

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