With less than a week until its equity crowdfunding campaign on Crowdcube comes to an end, tutor marketplace Tutora has successfully surpassed its initial £350,000 and has secured nearly £425,000 from more than 450 investors.
Tutora was launched by co-founders Scott Woodley and Mark Hughes less than two years ago. The marketplace aims to help parents find and book private tutors online and its tutors have taught 3,000 lessons in subjects ranging from Math and English to Spanish and Accounting.
“About a quarter of state school students in England and Wales have received tuition and the tuition industry in the UK is estimated to be worth £6bn. Even so, finding a tutor has remained a difficult process. We believe Tutora solves this. We help parents find and book private tutors. We cover every subject and every age, across the UK. Since launching just over 18 months ago, our 6,000 tutors have taught over £1m worth of lessons.”
While sharing details about Tutora’s growth and development over the past two years, Woodley recently revealed:
“Our success has not only been recognised by our students, tutors and investors. We were recently finalists in TechNorth’s Northern Stars competition, which named us as one of the top 20 startups in the North. We have also been featured in many leading publications, including the Guardian, BBC, The Telegraph and TechRadar (India). Alongside all of this, we have partnered with Pearson, the international publishers, to develop the Tutors’ Guild series of tuition packs, designed to enable tutors to deliver the very best sessions.”
After the campaign secured its initial funding target, Hughes revealed:
“We’re delighted to say that we reached our funding target earlier this morning and are now officially overfunding.Both Scott and I want to offer a massive “Thank You” to everyone who has supported us so far. We’ve had a hugely positive reaction to our plans from investors, but also from our growing team of tutors, parents and students – of whom over 150 have invested personally in the business.”
Funds from the latest Crowdcube campaign will go towards building an online tuition platform, student and tutor apps, and further grow the company’s community of tutors and students. The campaign is set to close this Sunday (March 12th).
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