Leverage Edu, a global study abroad platform, said on September 15 it will double its workforce of 1,500 employees in the next 12 months on the back of reports that highlight an expected growth in the number of Indian students attending foreign universities.
In a statement, the company said it is focused on strengthening teams in counseling, marketing, operations, product, and the newly launched finance vertical - Fly Finance. Leverage Edu also said it added over 1,000 employees in the last 12 months.
Leverage Edu’s move toward mass hiring also comes during a sorry time for startups as the ecosystem suffers through a funding dry-out amid a slowdown in global financial markets, compelling firms to lay off employees, shut non-core verticals and rationalise advertising and marketing spending.
Leverage Edu joins the fray of companies that are bucking the larger trend of layoffs and hiring in large numbers, especially within Indian edtech startups. Last week, Tiger Global-backed edtech soonicorn Scaler also said it is planning to hire over 600 professionals by December 2022.
Founded in 2017 by Akshay Chaturvedi, Leverage Edu helps students with higher education and career guidance in foreign universities. With more than nine million students visiting its platform and mobile app for study abroad advice every month, Leverage Edu currently caters predominantly to Indian and Nigerian markets.
“Our hiring strategy is in sync with our growth plans, but we continue to focus on retention and employee welfare. We have recently introduced the eighth virtue to our culture, which is always to be ‘counselor-first’ to reinforce that the company's values are as much people-first as they are student-first,” said Chaturvedi, who is also the chief executive officer (CEO) of the company.
In the statement, the company also said it has grown 20 times since January 2022 and reported it is on track to clock a revenue of Rs 100 crore in FY23, without divulging further details.
Recently in March, Leverage Edu raised Series B funding of $22 million at a valuation of $120 million from investors such as Kaizenvest Private Equity, DSP Mutual Fund Group, Artha Ventures, UAE-based NB Ventures, and 9Unicorns, among others.
The study abroad platform also claims to have supported over 15,000 students to date and has more than 500 universities as its partners across the United Kingdom, Australia, New Zealand, the United States of America, and Canada.
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