UK-based edtech startup Zzish is set to close its latest equity crowdfunding campaign on Crowdcube with more than £525,000 in funding from over 300 investors. The launch of this latest round comes just a little over a year after Zzish secured more than £1.3 million through its first Crowdcube initiative.
As previously reported, Zzish was founded in 2013 with a mission to give every child their own teaching assistant. The company reported its technology diagnoses what each student is struggling with and gives their teacher or parent real-time, data-driven recommendations to help. The company reported that 155,000 teachers currently use its services for 2 million students in 170 countries.
“The $252bn Edtech market is growing 17% p.a. but is fragmented. With 200,000 education apps and over 4.5+ million digital resources there is no easy way to know which are effective. Zzish’s platform brings these resources together, maps them to curriculum goals, and ranks them by the impact on learning. Clients pay $2/student/year for the insights & content recommendation platform and our big data dashboard with the option to pay $20 to access all apps & resources. We’ve signed clients in 14 US school districts and the Philippines government.”
Zzish also reported that its services have given an 8%-10% improvement in national science test scores. Activity has also grown 254% since last year, with 5.5 million quiz questions taken monthly. In a recent update, the Zzish team stated they plan to use the funds from the latest Crowdcube round for the following:
- Hire more sales execs to service the demand from the U.S. market and accelerate growth and revenue in the territory
- Provide the upfront capital to set up infrastructure and hire additional bodies in the Philippines to service the 2.1m students who are expected to be using Zzish after next pilot
- Extend Google Classroom integration to do even cleverer things with Youtube resources
- Hire first VP for China
- Hire additional business development resource for further international distribution deals based on the successful model in Colombia
- Explore new markets for us (e.g. India where the Edtech market is growing at a 58% CAGR)
The campaign is set to close later this evening.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
