London edtech secures £5.6m in bid to save UK education system millions

A London-based digital staffing platform has announced it has raised £5.6m in funding to support its expansion plans.

Zen Educate secured the funding in a round led by edtech venture capital firm Brighteye Ventures, with participation from existing investors including UK investment syndicate Adjuvo and Nick Hungerford, the founder of online investment platform Nutmeg.

Founded in 2017, Zen Educate provides schools and teachers with an online alternative to recruitment agencies, aiming to offer a ‘one-stop shop’ for educational staffing needs.

This latest funding will be used to boost the firm’s presence in London, as well as grow its footprint in the North West of England.

As part of its expansion plans, the firm plans to to onboard an additional 2,000 schools and 20,000 teachers, as well as treble its workforce by the end of the year.

Slava Kremerman, co-founder and CEO of Zen Educate, explained: “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.

“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 £100 million per annum by 2024, with our smarter approach to recruitment.”

Ben Wirz, partner at Brighteye Advisors, added: “This new capital injection is another testament to the strength of the platform and the Zen Educate team.

“Until now, the education staffing industry has relied upon inefficient and expensive ‘pen and paper’ practices - teachers and schools alike deserve a solution that’s fit-for-purpose in the 21stcentury.

“The team at Zen Educate have incredible insight into the pain points the industry is experiencing and from speaking to schools that use them, it is clear they are solving a real problem for the education system. We’re excited to support them in securing market share as they continue to grow rapidly, and drive network effects across their platform.”