The company shared that it empowers parents in their children’s education by providing adaptive learning resources in English, maths and science for year 1 (5 years old) to year 11 (GCSE/16 years old). It is backed by Downing Ventures and experienced angels including ex-founders from the likes of LoveFilm and is aiming capture the fragmented tuition market and become the leading parent education brand and largest qualified online tutor company in the UK:
“A DfE report states that ‘it is [parental] support of learning within the home environment that makes the maximum difference to achievement.’ However we’ve found that parents lack the resources and confidence to help sufficiently with their child’s learning. EdPlace is designed to solve this problem by empowering parents to give their child the best possible education.”
Since its launch in December 2010, EdPlace has achieved the following:
- TimesTutorials.co.uk launched in partnership with News UK (The Times & Sunday Times)
- EdPlace delivers all 3 core subjects KS1-4
- Angel finance raised
- EdPlace launches iOS App
- Initial VC investment raised
- Successful pilot of EdPlace live lessons
It currently has over 3,500 paying subscribers along with over 200 schools signed up to its freemium package and 10 paying tutor centres. It has also generated over £500,000 in gross sales in the past year.
Funds from the campaign will go towards the following:
- Marketing to deliver the company’s marketing plan. With investment-backed growth to deliver scale and profitability.
- Product developments Development investments into enhancements of adaptive learning platform and expansion into live online lessons.
- Staffing Growing from EdPlace’s current headcount of 6 to 12 by the end of 2016. Building a strong team to deliver growth.
The company added:
“We’ve raised £480,000 in equity finance with £370,000 from angels and a VC (Downing Ventures).”
So far, the campaign has successfully secured over £111,000. It is set to close at the end of November.
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