Britain-based edtech firm raises £5.6m

Britain-based edtech firm raises £5.6m

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Zen Educate, a leading digital staffing platform for schools and teachers has announced on Tuesday that it has raised £5.6m of funding which was led by Brighteye Ventures, Europe’s largest EdTech VC.

Other investors include Adjuvo, the UK investment syndicate and Nick Hungerford.

Since its launch in 2017, Zen Educate has provided schools and teachers with an online alternative to recruitment agencies.

The British firm has become a one-stop shop that solves all of a school’s staffing needs. It is absolutely devoid of stress and it is cost-effective.

Zen Educate is the only online platform accredited by the DfE Supply Teacher Framework.

It should be noted that schools using the platform have typically made savings of 20-30% on their supply cover costs, which they can have access at any time on the platform.

Zen Educate has already saved the education system of £600k since its establishment, and it also have plans to save schools £2m by the end of the year.

The fund will be used to establish Zen Educate’s position in London and develop its footprint in Manchester.

The online-based platform works with 10% of schools in London; and over 4,000 teachers. It aims to an additional 2,000 schools and 20,000 teachers, while growing their 20-person team to 60 by year end.

Slava Kremerman, co-founder and CEO of Zen Educate said, “UK schools are under an immense amount of financial pressure right now, that’s why we’re committed to cutting down supply cover costs significantly so they can spend more on what matters, the children- not on agency fees. By removing the middleman, teachers and schools can cover staff absence with ease, reducing uncertainty, increasing wages and saving costs.

“While our main focus still remains on making sure schools get the best supply teachers possible, this funding will also allow us to grow our long-term hire offering so we can provide a holistic digital solution for every hiring need. We are aiming to save the education system £100m per annum by 2024, with our smarter approach to recruitment.”

This is the largest ever funding round raised for a teacher recruitment technology business outside of the US.

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