London edtech startup raises £500k in funding round for new hires
A London edtech startup has announced that it has raised £500k as part of a funding round to support recruitment.
BibliU, a digital education platform that provides students with digital access to textbooks, has raised £500k as part of a Series A extension funding round, supported by Angel Investment Network (AIN).
The campaign funding round, an addition to its £6.5m Series A, was in response to a “surge” in demand due to COVID 19.
Completed in eight weeks, the funds will be used for new technical hires to support demand from Universities.
David Sherwood, CEO and co-founder of BibliU, commented: “BibliU has seen rapid growth across the globe over the last few months, and we believe COVID has pulled the transition to digital learning forward by at least 5 years.
“We have always existed to assist universities with this transition, by providing an unmatched student experience in a cost-effective way.
“BibliU is the perfect intersection for universities that are looking to create a seamless distance-learning experience, and do so in a way that introduces operational efficiencies to their workflows.
“We’re thrilled that AIN was able to assist us in this rapid extension to our Series A, and are excited to see where this round takes us.”
Sam Louis from Angel Investment Network, who led the raise, added: “BibliU sits at a fantastic intersection of traditional learning structures and digital evolution. The business has broad reaching applications, a strong business model and most importantly, it delivers real value to its users.
“Edtech is a tough area to gain real traction and I think what BibliU has stands apart from many of the others which is why we’ve seen such great uptake from investors.
“The Covid lockdowns have now accelerated adoption of digital learning and hopefully this will lead the way for more sustained growth in the edtech space and of BibliU.”
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