Tutorful, a Sheffield-based EdTech company that provides a platform for students to find offline and online tutors, has raised £3 million in a funding round led by Mercia’s Northern Venture Capital Trust (VCT) funds and NPIF Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.
The company plans to use the funds to enhance the platform further and expand into new international markets.
Tutorful offers a platform where individuals can source tutors, message, and pay in one place. It also provides interactive options for learning with a tutor. The platform's mission is to help anyone find their perfect tutor so they can achieve their learning goals.
Founded in 2015 by technology analyst Mark Hughes and a teacher Scott Woodley, Tutorful helps parents and students find online tutors easily. Its 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.
Commenting on the recent achievement, CO-founder and CEO of Tutorful, Mark Hughes said,
"Online learning now plays a key role in education but nothing can replace the benefits of one-to-one tuition. Tutorful offers the best of both worlds – 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."
Hughes further added, "The platform has potential for use worldwide and this latest investment will help us to expand into other overseas markets."
Currently, the startup employs 55 permanent staff and plans to create around 27 additional jobs at its Sheffield headquarters with the funding.
Ishaan Chilkoti, Investment Director, Mercia, has said,
"The pandemic has accelerated the uptake of online learning. Tutorful’s 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. This latest funding round will help it to further expand its services and make tuition more accessible to all."
The company has over 11,000 registered tutors covering more than 300 subjects. Around 70 percent of its clients are children, with the remainder being adults who can learn anything from languages to music, computer programming, or even get help with a Ph.D. course.
Tutorful also witnessed a whopping growth of 376 percent 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.
In 2019, the company had raised £3.5 million from the Northern Venture Capital Trust.