TeachPitch, a UK-based education technology company, announced last week it has decided to extend its latest equity crowdfunding round on Crowdcube. The company launched the funding round last month and quickly secured its initial £300,000 target. It is now nearing £340,000 thanks to more than 180 investors. While sharing details about the campaign’s extension, the TeachPitch team stated:
“Happy Friday! It surely is a great day for us as we feel very fortunate to announce that our investment pitch has been extended with another 2 weeks. Ever since going publicly live on the platform, we have had many (many!) reactions from the Crowd. We have highly appreciated (and enjoyed) your reactions, ideas and input and have taken to heart the many things you shared with us.
“Our raise did, however, also capture the interest from (institutional) educational investors in other countries (China & the US). As you can imagine we are very happy with such significant engagement and therefore we are currently meeting with them to ensure they have all the ins & outs on the growth of our company. As the decision making process on their end is likely to take up more time than the remaining 7 days on CrowdCube, we have been granted two more weeks by the team of CrowdCube to get them involved in our campaign. We are very happy with this opportunity and will be sure to keep you updated on any progress we make.”
As previously reported, TeachPitch was founded in 2014 and is describes as a technology that maps and matches teachers’ learning needs with the best material available. The company was notably 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. Its software is also used in hundreds of schools and the company has started to certify its users to provide online tutoring to other educators on the platform.
“TeachPitch was acknowledged as 1 of the 20 fastest growing eLearning companies in the United Kingdom in 2015 by EdTech Europe, as 1 of the 50 best tech companies in the United Kingdom by the Great British Entrepreneur Awards in 2016 and received an Award for Educational Excellence, Teaching and Leadership by the World Education Forum in Mumbai in 2017.”
The company then reported it has signed commercial deals with notable educational institutions in the UK, U.S., and China. TeachPitch is now partnered with Education company OneWorld for software to be used in over 500 schools. It has also received an offer for a $150,000 grant by an international non-profit organization for the rollout of technology in public schools in Eastern Europe.
All funds from the Crowdcube round will be used to accelerate TeachPitch’s expansion in China, grow its tutoring program and develop a mature machine learning and AI technology. It is set to close mid-April.
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