A platform that helps parents and students to find online tutors has raised a further 拢3m investment amidst a boom in business following the COVID-19 pandemic.聽
Tutorful has secured funding from Mercia鈥檚 Northern Venture Capital Trust (VCT) funds and NPIF 鈥� Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.聽
The Sheffield-based platform achieved a 376% growth in revenue from online tuition during 2020 as students took to distance learning, whether to support their existing school or university studies or to learn new hobbies and skills. The triple-digit growth has also continued well into 2021.
Founded in 2015, Tutorful now has over 11,000 registered tutors covering more than 300 subjects. Around 70% of clients are children, with the remainder being adults who can learn anything from languages to music, computer programming or even get help with a PhD course.
Tutorful鈥檚 innovative virtual classroom ensures a smooth, interactive learning experience while features such as scheduling and billing enable tutors to build their business and attract clients online.
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Tutorful currently employs 55 permanent staff and recently launched in France and Ireland. The company initially raised 拢3.5m from the Northern VCTs in 2019. The latest funding round will allow it to further enhance the platform, expand into new international markets and create around 27 additional jobs at its Sheffield headquarters.
Mark Hughes, co-founder and CEO, said: 鈥淥nline learning now plays a key role in education but nothing can replace the benefits of one to one tuition.聽
鈥淭utorful offers the best of both worlds 鈥� it offers students easy access to some of the best teachers in the UK while leveraging the power of technology to make learning more fun and engaging.聽
鈥淭he platform has potential for use worldwide and this latest investment will help us to expand into other overseas markets.鈥�
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Ishaan Chilkoti of Mercia said: 鈥淭he pandemic has accelerated the uptake of online learning. Tutorful鈥檚 growth shows that students have bought into and understand the benefits of online tuition and are happy to continue learning this way in the future.聽
鈥淭his latest funding round will help it to further expand its services and make tuition more accessible to all.鈥�