Virtual school-gate community, Classlist, is set to close its latest equity crowdfunding campaign on Crowdcube with nearly £800,000 in funding. The company returned to Crowdcube less than five years after raising £837,160 through its previous crowdfunding campaign. The latest funding round has attracted more than 890 Crowdcube investors.
As previously reported, Classlist enables parent communities to work together on a wide range of family-related activities. It also offers a private social network for each school with messaging, events, listings, school run sharing, and more.
“Susan Burton & Clare Wright launched Classlist in 2015 when privacy concerns prevented their school from sharing parent details. We found UK Parent Associations adopting our service to communicate & organise events. School leaders welcomed Classlist: buzzing parent communities drive better pupil outcomes, increase fundraising & attract new parents. Messaging tools like WhatsApp can pose security risks, become cliquey, or turn negative. Our volunteer school ‘Ambassadors’ focus on trust, respect & inclusivity.”
Classlist also noted that its core business model is ad-funded, offering advertisers school-by-school access to a UK family market it estimates at £209 billion pa. Schools also share revenue if they bring sponsors.
” Advertising revenue alone has taken us close to breakeven (YE July 2020: Rev: £257.2k, P&L: -£18.6k). Premium subscription services launched recently, can yield up to £15k pa for a large school. We operate in 2 high growth markets: digital advertising at $350bn/growing 12% pa, and edtech $150bn/16% pa.”
Funds from the latest Crowdcube round will be used to develop premium services, as well as extend the company’s UK and global leadership. The campaign is set close next Thursday.
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!