South African EdTech company d6 Group, which offers a cloud-based management and communication platform for schools, has raised an undisclosed amount of funding from Knife Capital, Hlayisani Growth Fund Stellenbosch, and NuState Ventures.
According to reports, the company plans to use the fresh funding to expand its services and company internationally, and also to develop new products.
Founded in 2010, d6 Group provides an all-in-one cutting-edge platform for educational institutions to manage all of their operations and conduct comprehensive communication between schools, parents, and students. Its solutions support the school's management team by improving organization processes, significantly reducing the burden of administration while providing community engagement solutions that enable effective communication with parents.
d6 Group's platform includes payment facilitation solutions and a fully integrated cloud-based school administration, curriculum, and finance system. The platform is currently used by over 2800 schools in South Africa and abroad.
Commenting on the funding, Willem Kitshoff, CEO of d6 Group, said,
"We are extremely excited about our new investors because of their proven track record and ability to support tech businesses to scale internationally. We have a strong market footprint and technology foundation and with this new strategic investment support, we are now able to pursue our local, as well as international growth aspirations."
Kitsoff claimed d6 mobile application enables around one million parents to stay up to date with school-related matters. He is of the opinion that the one-size-fits-all approach is long gone and the chat apps typically used within friendship groups don’t provide for the sophistication and security required for a school environment.
Keet van Zyl, Co-founder of Knife Capital, said,
"Alignment of shareholder interest behind a motivated entrepreneurial team is a critical strategic building block for creating value and Knife Capital is delighted to partner with these credible investors. We liked that d6 wasn’t dependent on the investment from a cash flow runway perspective, but the funds will enable them to scale more rapidly. This is a high-growth business with an amazing product, recurring revenue, and a huge addressable market."
"We were also impressed by the team culture and work ethic. The Kitshoffs and the broader d6 team embody humility, professionalism, and a fierce passion for improving education through innovation and technological enablement. The d6 solution simplifies managerial complexity which is pivotal for improving education, with the return on investment delivered while improving lives," van Zyl added.
According to reports, while Kitshoff family will retain a meaningful stake in d6, Knife Capital, Hlayisani, and NuState will be the majority shareholders as a result of the investment.
d6 is currently the most widely used cloud-based school management and communication platform in South Africa. It has headquarters in both Gauteng and Pretoria.