ExtraaEdge[A New Age CRM startup helping Educational Institutions in 2023]
Extraaedge is a CRM for Educational Institutional
What is ExtraaEdge?
In 2015, the co-founders Abhishek Ballabh & Sushil Mundada, in the humble abode of Abhishek’s bachelor pad, set out to bring innovation into the world of admissions. A product-based SaaS startup, the team created an admissions and marketing automation CRM Software to help the education industry increase, manage & predict their admissions.
The vision of Extraaedge is “to become the globally preferred Education Marketing Technology to increase admissions and optimize marketing spend. ExtraaEdge aims to be a verb synonymous with education marketing technology”
The mission is “to bring the power of technology to education thereby making the processes and outcomes better.”
|Products||CRM & Automation Tools|
|Revenue Model||B2B, Subscription,|
How did it Start?
In the world of Edtech, there are primarily two issues. Students face the challenge of finding an appropriate tutor to gain an extra edge over their competitors in competitive exams and institutes that aim to build a student base for acquisition via digital mechanisms.
In other words, employability and sales are the two key running factors for the EdTech industry, and the two co-founders at Extraaedge, post identifying the same, decided to venture into the sales aspect of the problem.
Quick Overview of Extraaedge
This Pune-based startup has been seeing a considerable growth rate of 2x to 3x every year. It is to be noted here that, unlike startups who raise huge capital but do not proportionate it with revenue, Extraaedge has so far raised INR 16 crores in the capital, burnt INR 8 crores in operation and the rest INR 8 crores is the ARR. Thus, the capital-to-revenue ratio for Extraaedge is a differentiating factor highlighting its growth since its inception.
This Duo-founded startup has onboarded 300+ Education Institutes across the globe, across sectors, having an admission team of 4000+ members with 5M+ leads Analyzed, and present over 6+ office locations.
- Education CRM: Education CRM software to help you get deeper insights into prospects’ journeys, automate the tasks you hate, and close more admissions faster.
- Chatbot & Live Chat: Chatbot & conversation software to help you not miss out on inquiries respond faster & be available twenty-four*seven to address prospect queries.
- Application Management system: Applicant management software to help you fill more application forms, with an integrated payment gateway, built for your smartphone prospects with built-in communication automation.
- WhatsApp Bot: Use the power of WhatsApp to communicate with prospects. Send bulk messages or have one-on-one communication based on different lead stages.
- Mobile CRM: Mobile CRM software to enable work-from-home counselors, record & manage outbound calling, never miss any follow-ups & close communications faster via WhatsApp.
- Universities: Three-step Online Application Management System that will help customers automate candidate management, improve conversions, and boost engagement. It will enable them to develop custom application forms, GD/PI workflows, and payment collection.
- School: Manage the entire school admissions from inquiry to admission with a school-focused CRM and marketing automation.
- EdTech: Integrate the lead channels, create student journeys, and automate the nurturing process throughout your admission funnel. Also, focus on scaling conversions and let the CRM do the rest of the job.
- Vocational: Auto allocates the huge inflow of leads from multiple channels in a single platform based on location, source, or courses. This ensures that the response time is faster and allows the customer’s team to focus on conversions.
- Coaching Institute CRM: An exclusively designed Admissions Management Software for top coaching and training institutes to manage their admissions process digitally and boost conversion rates by ten times.
- Overseas: An overseas CRM built exclusively for top study abroad consultancies and institutes to digitize their admission process and boost maximum lead conversion rates by ten times.
The revenue model is this SaaS-based startup is a subscription, where the educational universities, coaching, vocational institutes, edtech, abroad student institutions, etc. are charged via their admission and marketing departments.
In SaaS-based startups, the winner does not take all, believes the founder. There are so many offerings on the platter that there is something for everyone. Even though there are few competitors in the market, including unicorns, the founder believes that they are in a comparable league with them with respect to the revenue rate of extraaedge.
The Pune-based startup would like to grow its base in PAN India as well as overseas.
The startup started via bootstrapping where both the founders cumulatively put their personal capital of INR 25 to 30 lakhs at stake. Fortunately, they were able to get an initial set of angel investors soon and in the first year itself, they raised a capital of $250,000.
Extraaedge has raised a total amount of US$3M from the marquee investors of Faad Network, Sprout Venture Partners, 9Unicorns accelerator Fund, Indian Angel Network, TiE Pune, and DevX.
The strength of the startup lies in its people, product, and culture.
The weakness is the lack of talent in important leadership roles.
The opportunity is big as the market size is considerable. Currently, the team at extraaedge is having a headway of two hundred customers, all of them being referenceable.
The threat is reaching a point where there is an incapability to raise capital.
Abhishek Ballabh is the CEO and has done his BE in IT from Bharti Vidyapeeth, Pune.
Sushil Mundala is the COO who has completed his under graduation from the Pune Institute of Computer Technology.
1.Abhishek Ballabh 2.Sushil Mundada