Overfunding: ClassList Surpasses £550,000 Funding Goal on Crowdcube

On Friday, virtual school-gate community, Classlist, announced that it has successfully secured its initial funding goal of £550,000 through equity crowdfunding platform, Crowdcube,

Classlist 2As previously reported, Classlist enables parent communities to work together on a wide range of family related activities. It also offers a private social network for each school with messaging, events, listings, school run sharing and more.

Since its launch last fall, Classlist is reportedly in over 70 UK schools, from state primaries to independent boarding schools; more join every week. Within the past couple of months, the community has developed a substantial Daily Mail feature and Independent Education Review. Classlist is free to both parents and participating schools. It receives revenue through local/national advertising and achieves an average £1,000 pa per school.

The Classlist team revealed:

Classlist 3“Our initial focus on the UK suggests social media, user referral, and regional sales managers offers a rapid and replicable route to market. To onboard large numbers of schools Classlist is increasing its marketing spend and upgrading its mobile IT infrastructure with improved self-service and automation.”

In a recent update, the company shared one of the Crowdcube’s investors thoughts

“I buy into the cofounders, the idea is highly scalable, acquisition costs should be relatively low due to word of mouth, it has platform potential – which is where the biggest valuations are – and you’ve demonstrated good early traction. Lots of opportunities for improvement; I’m sure the team is aware of those already.”

Currently, the campaign is sitting at nearly £562,000 from 135 investors. It is set to close in two weeks.

 


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