GrowthX, a social learning platform, has raised $1.5 million in a seed round led by Better Capital and 212 angel investors.
The massive community-led fundraising in the Indian startup ecosystem involved over 200 founders, leaders, and operators from organisations such as Razorpay, Airbnb, Mamaearth, Meesho, Myntra, and Freshworks. The members of GrowthX’s community received 65% of the funding.
“We are humbled by the fact that the 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 & Co-Founder of GrowthX
The new funds will allow GrowthX to provide more life-changing outcomes to its members faster.
The company’s working model
Headquartered in Bengaluru, India, GrowthX is a B2B and B2C-focused company that provides an 8-week cohort-based learning programme for product managers, marketers, and early-stage founders.
During the first five weeks, applicants learn everything there is to know about acquiring new users, onboarding them, engaging them, monetising them, and growing. The application process for membership consists of two rounds, with a current acceptance rate of 9%. Current members include Google, Facebook, Razorpay, Amazon, CRED, Flipkart, Canva, Spotify, Adobe, Meesho, OYO, Freshworks, PayTM, Dream11, Zoho, Cisco, Khatabook, Udaan, MobiKwik, Kotak, HDFC, ICICI, and others.
“Moonshots or shortcuts to growth are a myth and, in fact, self-destructive. Growth is a mindset and is meant to be sustainable; in the short and mid-term, we are looking to change the way top operators & founders develop a mindset that will significantly impact the way people are hired and promoted.”
Abhishek Patil, the co-founder of GrowthX
Before its incorporation in April 2020, GrowthX was a community that helped founders and operators advance their careers. But, unlike most ed-tech startups, GrowthX assists its members in navigating the complicated path from operator to manager to leader. It accomplishes this through a year-long experience that provides access to seven professional growth ingredients: 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.
Future Action Plans
“Product and growth problems require a structured approach and professionals with this skill are incredibly difficult to come by at the moment. GrowthX is doing a great job at filling this gap by building a phenomenal community of talent with the ability to solve any growth problem. I believe the founders are doing a great job building the next generation of top growth professionals.”
Harshil Mathur, CEO at Razorpay & Partner at MarsShot
The angels’ active support and fund infusion will be used for pedagogical and experiential innovations for the members. GrowthX has enabled countless success stories for its members, such as assisting some members in transitioning into breakout roles in product and growth, moving from managerial to leadership roles, or assisting founders in hiring the right person.