Earwig Academic Raises 128% of Goal at £180,000.
Investors quickly backed Earwig software raising equity on the Crowdcube platform. The company had set a goal of raising £140,o00 but 71 investors have participated to push that amount higher. This represented an 18% stake in the academic reporting software company. The single largest investment was £20,000. The startup was listed as eligible for SEIS tax benefits.
The Ripley, Surrey located company apparently chose crowdfunding specifically to attract small investments from educators and school staff, so that the future of schools can be determined by educators themselves.
The Earwig Academic system was created by educators to solve the problem of providing ‘evidence of achievement’ for Ofsted in schools. Earwig provides a visual timeline for each child, covering their entire school career. It also provides timelines for every teacher, every class, every subject or key stage and every group. Parents can log in to see their child’s timeline, the school blog and newsletters.The business generates revenue by selling the photos and videos to parents and sharing this income with the school.
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