Pune-based software-as-a-service (SaaS) startup, ExtraaEdge, on Wednesday said it has raised $1 million as a part of its pre-series A round from Pentathlon Ventures. The round also saw participation from other investment firms, including 9Unicorns, Indian Angel Network, Faad Network and DevX Innovation.
Other angels, including Monish Darda, co-founder of SaaS unicorn Icertis; Manasij Ganguly, founder Threadsol; and Aditya Somani, former vice-president at Premji Invest, also participated in the round.
According to the company, the fundraise will help ExtraaEdge double down on product capabilities to power admission teams, and look at a wider global expansion.
The company will also use the funds to expand customer base, bolstering product development primarily in robotic process automation, and investing in its data science teams.
Five-year-old ExtraaEdge provides customer relationship management software to help education institutions increase, manage and predict their admissions, while automating their entire sales and leads processes.
The startup’s goal is to empower admission teams across the globe to make smart, data-driven decisions to maximize admission outcomes, optimize market expenditure, and boost conversion rates.
“The onset of covid-19 has accelerated digital adoption in the education sector. Conventional marketing processes have now been digitized. Although new business models are getting validated in the education industry along with a new-age technology stack, student acquisition is still a white space. ExtraaEdge is building that stack by leveraging the power of machine learning and new-age marketing automation to make admission predictable,” said Abhishek Ballabh, co-founder of ExtraaEdge.
ExtraaEdge currently works with more than 225 education brands.
“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,” said Sandeep Chawda, partner at Pentathlon Ventures.
ExtraaEdge’s clientele includes BITS Pilani Dubai, Manchester Metropolitan University, Sharda University, IIHM, Jain University to name a few.
The company recently launched its operations in the UAE and the UK, to tap into international education clients.
