Edtech Lead Company Announces $3 Million Esop Liquidation Program For Its Staff

Bengaluru: Edtech unicorn Lead School has announced a $3 million Esop (employee stock option plan) liquidation program for its employees, which follows its recent funding round which catapulted it into the unicorn club of companies valued at $1 billion or more.

Also Read: Lead School Becomes Third Unicorn of 2022 After $100M in Funding

The Mumbai-based company has distributed Esops to 20% of its employees. It has in the past awarded performance Esops to reward employees for performance.

Sumeet Mehta, co-founder and CEO of Lead, said in a statement, “I am thrilled that we are able to offer significant wealth creation opportunities to those who have joined us in our mission. We have also included our alumni in the liquidation plan as they remain Lead’s ambassadors.

The edtech company provides technology solutions to schools with a focus on digital learning through an online or hybrid (physical and digital) classroom model. He had raised $30 million in April last year. Lead School links with schools instead of going directly to children.

Lead School is the third startup to enter India’s unicorn club in 2022, following direct selling brand Mamaearth and Fractal, an artificial intelligence company. It is also the sixth Indian edtech company to achieve unicorn status.

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