Overfunding: On-Demand Private Tuition Marketplace Sophia Technologies Quickly Secures £300,000 Equity Crowdfunding Target on Seedrs

 

Sophia Technologies, a UK-based on-demand marketplace for the private tuition industry, has successfully secured its initial £300,000 equity crowdfunding target through its Seedrs campaign. Launched in 2019, Sophia’s key mission is to provide a more accessible, convenient, safe, and efficient way of supporting education for parents, tutors, and students alike.

Sophia further revealed that its tutors are fully vetted by the education team against the highest standards in safeguarding and safer recruitment. Sessions are booked through an app and are delivered online, at home, or anywhere the client finds convenient.

“Sophia takes a fixed % commission when the session is booked and pays the remainder to tutors. Sophia covers variable costs including ‘gig-economy’ insurance (via a partnership with Tapoly), payment processing fees (partnership with stripe) and retains gross profit of 16.4% per average session.”

The company offers the following:

  • Virtual School: Sessions are run daily and cover core curriculum across age groups from KS1 to GCSE. Up to 3 parents can book into a single session, parents get to select subject but not the specific time or tutors. Classes get booked up weeks in advance and this cross pollenates into clients booking specific tutors for one-to-one sessions via the app.
  • SophiaX: A wide variety of extra-curricular courses (Book club, Harry Potter and his World, Minecraft coding, Debating, Mathematical Art, Coding a Lego Maze), SophiaX feeds kid’s curiosity and elevates their learning with a variety of real time online classes.

Funds from the Seedrs round will be used to continue the growth and development of the Sophia platform. The company is now offering 13.24% in equity at a £2 million pre-money valuation. The campaign is set to close mid-September.


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