MarTech Startup ExtraaEdge raises $1 million Pre-Series A from Pentathlon Ventures, others

• The startup intends to use the raised funds to increase its customer base, strengthening product development and data science team.
• Investors including 9Unicorns, IAN, Sprout Venture Partners, Faad Network, TiE Pune Angels, among others, also participated in the round.
• Previously, ExtraaEdge had raised $1 million in a seed funding round.

Pune-based education sector-focused martech startup ExtraaEdge has raised $1 million (about Rs 7.2 crore) in a pre-Series A funding round led by technology-focused venture fund Pentathlon Ventures, Faad Network, and DevX Innovation.

The round also saw participation from 9Unicorns, Indian Angel Network, Sprout Venture Partners, TiE Pune Angels, and angel investors including Monish Darda (Co-Founder of Icertis), Manasij Ganguly (ex CEO – Threadsol), and Aditya Somani (Former Vice President of Premji Invest).

ExtraaEdge intends to use the raised funds to increase its customer base, expanding into other international regions, strengthening product development and data science team, the statement said.

Prior to this round, ExtraaEdge had raised $1 million in a seed funding round from 9Unicorns Accelerator Fund. To date, the startup has raised over $3 million in its funding rounds.

Founded in 2015 by Abhishek Ballabh and Sushil Mundada, ExtraaEdge Technology Solutions Pvt. Ltd, which owns and operates ExtraaEdge, a SaaS martech platform that helps educational institutions to increase, manage, and predict their admissions while automating entire sales processes.

The startup claims to have more than 225 educational institutes in its client base across India, United Kingdom, and UAE. It counts BITS Pilani Dubai, Manchester Metropolitan University, Sharda University, IIHM, Jain University, to name a few, as its clients.

Commenting on the development, Abhishek Ballabh, said, “The onset of Covid-19 has accelerated the digital adoption in the education sector. "Conventional marketing processes have now been digitized." Education institutes and other important stakeholders of the ecosystem are on the lookout for a technology stack to run their admissions process in a seamless manner."

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Sandeep Chawda from Pentathlon Ventures, said, "As institutes evolve to survive, we are seeing an exciting 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."

"The start-up’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," said Dr. Apoorv Ranjan Sharma, MD, 9Unicorns.

Other investors such as First Cheque, UIncept, Sahil Sharma, Abhishek Bhatewara, Ritesh Dwivedy, and Ash Damle, Priti Padhy invested in the startup.

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