Leap, a San Francisco and Bengaluru-based overseas education startup, has raised $65 million (INR 562.7 crore) as part of its Series E funding exercise led by Apis Partners’ funds—Apis Growth Markets Fund III and Apis Global Growth Fund III. The round, which is a mix of primary and secondary deals, also saw participation from existing investors, including Owl Ventures, Jungle Ventures, and Peak XV Partners.
Leap, founded in 2019 by Vaibhav Singh and Arnav Kumar and operating LeapScholar, LeapFinance, GeeBee, and Yocket, is an online community for study abroad aspirants. It offers a range of services, including test preparation (IELTS, TOEFL, SAT), admissions and visa counseling, and financial support such as international student loans. The platform primarily focuses on institutes in the US, Canada, UK, and Australia.
Commenting on the funding, Vaibhav Singh, Co-founder of Leap, said:
Students love Leap’s one-stop approach to their international education needs. We have witnessed 5x growth since our Series D two years ago. Today, Leap is not only the study abroad platform of choice in India but is fast establishing itself as a global leader with scaling operations in over 10 countries. This investment from marquee investors bolsters our ambitions, and we are even more committed to democratizing access to quality global education.
The latest financing increased the company’s equity capital to $210 million. However, the valuation was not disclosed.
The startup combines human expertise with AI-powered tools to offer personalized guidance and solutions. It is also expanding its operations in the Middle East and Southeast Asia and claims to partner with more than 1,000 international universities.
Arnav Kumar, another co-founder of Leap, added:
We have launched many industry-first products and experiences to make the student journey seamless. Ensuring student success is why we exist, and the AI (artificial intelligence) revolution we are seeing today will allow us to continue to deepen our existing offerings faster than ever before.
Udayan Goyal, Co-founder and Managing Partner of Apis Partners, also commented:
We have been very impressed with the rate at which Leap has already scaled since inception, serving thousands of students across 10 countries. This new partnership offers Apis an exciting opportunity to support Leap as it further expands its reach and continues to make a difference to its target demographics.
In the Series E round, Avendus Capital acted as the exclusive financial advisor to Leap and its shareholders.
In 2022, Leap raised $75 million in a Series D fundraising round led by Owl Ventures. It stated then that the funds would be used to form collaborations with educational institutions in other countries, develop existing products, and expand into new markets. Prior to that, the firm had raised $55 million in Series C capital from Owl Ventures, Harvard Management Company, Jungle Ventures, and Sequoia Capital India. Before that, it raised $17 million in a Series B fundraising round headed by Jungle Ventures.
