Bangalore: GrowthX raised $1.5 million in a community-led seed funding round. 212 angel investors contributed to the community-led seed funding round of GrowthX, a social learning community of the top 1% of growth leaders.
Over 200 founders, leaders and operators from companies like Razorpay, Airbnb, Mamaearth, Meesho, Myntra and Freshworks participated in this community-led fundraising of $1.5 million. With such an overwhelming response from 212 angel investors, this fundraising has become a historic moment in the Indian startup ecosystem.
During this funding round, GrowthX’s own community members invested 65% of the funds. The round was led by Better Capital the single largest entity.
Before GrowthX became a business in April 2020, it was a community that helped founders and operators accelerate their careers. Unlike most edu tech startups focused on getting your first job, GrowthX helps its members navigate the complicated path from operator to manager to leader.
It does this via a year-long experience, providing access to seven ingredients for professional growth – growth frameworks, networking with top talent, mentor-led learning, job opportunities in breakout roles, quora for growth, personal branding and access to hire top talent
The application to become a member involves 2 rounds with the current acceptance rate at 9%. At present, members belong to 1000+ tech companies ranging from Google, Facebook, Razorpay, Amazon, CRED, Flipkart, Canva, Spotify, Adobe, Meesho, OYO, Freshworks, PayTM, Dream11, Zoho, Cisco, Khatabook, Udaan, MobiKwik, Kotak, HDFC, ICICI etc.
“We are humbled by the fact that majority of our fund was raised from GrowthX’s own community. This is a true testament to the trust and value we have been able to create for founders and operators. As we continue to expand, we hope to fundamentally change the way operators and founders think about growth,” Udayan Walvekar, CEO and Co-Founder of GrowthX.
Practising what they preach, GrowthX has been profitable since day one and has almost zero cost of acquisition and an NPS of 78. They are using the funding infusion to invest in products, pedagogy and tech.
“We are looking to change the way top operators and founders develop a mindset that will significantly impact the way people are hired and promoted,” said Abhishek Patil, Co-Founder of GrowthX.