ExtraaEdge, a Pune-based software-as-a-service (SaaS) startup, announced that it had raised $ 1 million in funding to Series A from Pentathlon Ventures. Other investment firms also participated in the round, including 9 Unicorns, Indian Angel Network, Faad Network, and DevX Innovation.
Other angels, including Monish Darda, co-founder of the unicorn SaaS Icertis; Manasij Ganguly, founder of Threadsol; and Aditya Somani, former Vice President of Premji Invest, also participated in the tour.
According to the company, the fundraising will help ExtraaEdge duplicate product capabilities to strengthen approval teams and envision broader global expansion.
The company will also use the funds to expand its customer base, support product development primarily in robotic process automation, and invest in its data science equipment.
Five-year-old ExtraaEdge provides customer relationship management software that enables educational institutions to grow, manage and forecast their admissions while automating all of their sales processes and leads.
Also read: ExtraaEdge: Digitising Student Acquisition
The startup’s goal is to empower approval teams around the world to make smart, data-driven decisions to maximize approval results, optimize market spend, and increase reduction rates.
“The emergence of covid-19 has accelerated digital adoption in the education sector. Conventional marketing processes are now digitized. Although new business models in education are being validated with a new stack of technology, student acquisition remains a blank space. ExtraaEdge is building this stack by leveraging new age marketing automation and machine learning to make admission predictable, ”said Abhishek Ballabh, Co-Founder of ExtraaEdge.
“As institutes evolve to survive, we are seeing an exciting change in the way they use marketing automation and predictive analytics to attract customers. This is a billion dollar opportunity that ExtraaEdge is seizing at an impressive rate, ”said Sandeep Chawda, Partner at Pentathlon Ventures.
ExtraaEdge clients include BITS Pilani Dubai, Manchester Metropolitan University, Sharda University, IIHM, and Jain University, to name a few.
Recently, the company started operations in the United Arab Emirates and the United Kingdom to seek clients in the field of international education.