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London-based Zen Educate, a digital staffing platform that connects schools with teachers, has successfully secured £5.6 million (approximately €6.3 million) in its Series A funding round. The investment, led by Brighteye Ventures, marks the largest funding round ever raised for a teacher recruitment technology business outside of the US. Existing investors, including Adjuvo and Nick Hungerford, the founder of Nutmeg, also participated in the funding round.
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Zen Educate’s innovative online platform aims to streamline the teacher recruitment process, offering schools and teachers an efficient alternative to traditional recruitment agencies. Launched in 2017, the platform has quickly gained popularity, currently serving 10% of schools in London and over 4,000 teachers.
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With the latest funding injection, Zen Educate plans to solidify its position in London and expand its presence in Manchester. The company intends to onboard an additional 2,000 schools and 20,000 teachers while increasing its team from 20 to 60 employees by the end of the year.
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A One-Stop Shop for Schools and Teachers:
Zen Educate has emerged as a one-stop shop for schools seeking staffing solutions. By leveraging its intelligent ‘match algorithm,’ the platform efficiently matches schools with suitable short and long-term teaching roles.
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Through the platform, schools can access supply cover at any time, enabling them to make substantial savings of 20-30% on supply cover costs. The platform’s digital approach has already saved the education system a total of £600,000 since its inception, and the company aims to save schools £2 million by the end of this year.
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Slava Kremerman, co-founder, and CEO of Zen Educate highlighted the financial challenges faced by UK schools and emphasized the company’s commitment to reducing supply cover costs significantly. “By removing the middleman, teachers and schools can cover staff absence with ease, reducing uncertainty, increasing wages, and saving costs,” Kremerman explained. The platform’s efficient and cost-effective solution benefits both schools and teachers, providing a win-win scenario for the education system.
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Scaling Operations and Future Vision:
With this substantial funding round, Zen Educate intends to further enhance its platform and expand its offerings. The company aims to broaden its long-term hire offering, catering to every hiring need within the education sector. The ambitious goal is to save the education system an impressive £100 million annually by 2024 through its innovative and smarter recruitment approach.
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Brighteye Ventures, Europe’s largest edtech VC, recognizes Zen Educate’s potential to transform the education staffing industry. The firm has closed its first €50 million fund in 2017 and sees Zen Educate as a key player in solving real problems for the education system.
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Ben Wirz, partner at Brighteye Advisors, expressed enthusiasm in supporting Zen Educate’s growth and the positive impact it brings to the education sector. He stated, “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.”
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As Zen Educate scales its operations and continues to drive network effects across its platform, the company is poised to revolutionize teacher recruitment and make a significant impact on the UK’s education landscape.
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The funding from Brighteye Ventures and other investors will play a crucial role in realizing Zen Educate’s vision of creating a more efficient, cost-effective, and technology-driven approach to teacher recruitment. By empowering schools and teachers with digital solutions fit for the 21st century, Zen Educate is making strides towards a brighter future for education.