Sheffield edtech to create jobs after securing £3m investment
A Yorkshire edtech company has announced that it has raised £3m of investment as it aims to create dozens of new jobs.
Tutorful, headquartered in Sheffield, has secured the funding from Mercia’s Northern Venture Capital Trust (VCT) funds and NPIF – Mercia Equity Finance.
The Tutorful platform helps parents and students to find online tutors, and achieved a 376 per cent growth in revenue from online tuition during 2020.
It currently employs 55 permanent staff and will create around 27 additional jobs at its Sheffield headquarters with the funding.
Mark Hughes, co-founder and CEO, commented: “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.
“The platform has potential for use worldwide and this latest investment will help us to expand into other overseas markets.”
Ishaan Chilkoti of Mercia 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.”
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