Just one year after securing £300,000 through its first equity crowdfunding campaign on Crowdcube, education technology company, TeachPitch, has returned to the funding portal, seeking an additional £400,000 as it prepares to expand commercially into Asia.
According to its description, TeachPitch was created to tackle the problem of information overload for teachers and schools. It helps schools to organize, manage, and discover the best of online learning:
“We have gained strong traction with educational organisations and are in late stage discussion with partners in China which will give us access to hundreds of schools in that market. Another product that we sell is direct access to our content in bulk to other technology platforms so they can use it as an increased service to their clients. TeachPitch curates the best teaching [and] learning information through its online library. Our platform is now helping tens of thousands of users from over 128 countries to find the best online learning materials and is growing in users number each day.”
Since its launch, TeachPitch has been named one of the twenty fastest growing eLearning companies in the UK in 2015 by EdTech Europe and as one of the fifty best tech companies in the UK by the Great British Entrepreneur Awards. During a recent interview with Crowdcube, founders of TeachPitch shared details about its growth since its first equity round:
“Our main focus was on growing commercially by starting the conversation with leads that could make the decision for more than one school or institution at a time. Such clients are more often present in the East than in the West and so we focused our commercial efforts there. But we did not expect this to happen so quickly. Our journey eastwards provided us with great new partners, clients and colleagues, who can help us to further build our brand in China. Other than that, we feel very fortunate to have received a positive response from the public. The support we received from the Qatar Foundation through the World Innovation Summit for Education was amazing. It was quite an honour to receive acknowledgement as one of the 50 best tech companies in the United Kingdom by the Great British Entrepreneur Awards.”
Besides the Asia expansion, funds from the latest TeachPitch campaign will go towards developing a mature machine learning and AI technology. So far, the initiative has secured over £260,000 from more than 60 investors. It is set to close at the beginning of June.
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