Edtech unicorn Lead School announced a $3 million Esop ( employee stock options plan) liquidation programme for its employees which comes on the back of it recent funding round which catapulted it into the unicorn club of companies valued at $1 billion or more.
Esops have been distributed to 20% of the Mumbai-based firm’s employees. It has previously given performance Esops to reward employees for their efforts.
Sumeet Mehta, cofounder & CEO, Lead, said in a statement, “ I’m delighted that we are in a position to offer significant wealth creation opportunities to those who have joined us on our mission. We have also included our alumni in the liquidation plan because they continue to remain ambassadors of Lead.”
The edtech firm offers schools tech-enabled solutions with a focus on digital learning via an online or hybrid model of classrooms (physical and digital). In April of last year, it raised $30 million. Instead of going directly to children, Lead School partners with schools.
After direct-to-consumer brand Mamaearth and artificial intelligence firm Fractal, Lead School is the third startup to join India’s unicorn club in 2022. It is also the sixth edtech company in India to achieve unicorn status.
