- Helps a learner with finding the best mentor, teacher, trainer for them to help them overcome the challenges of the education system.
- SaaS for Corporates market Commission structure for the Consumer market
TutorHive
Written in November 2023. Details may have changed since.
Seed
❓ Business Model
📈 Traction
- 1,130+ Users with 7,200+ lessons taught across 140+ subjects - 2x MoM.
- Partnerships with Microsoft & IBM.
- AI algorithm has 93% student/teacher matching success rate.
- Working with Young Brent Foundation to help disadvantaged youth get jobs.
- Part of Barclays Eagle Labs Funding Readiness Accelerator.
- £200k of £1.2m Seed Round secured at £6m valuation.
🌱 Founding Team
- Rushab Shah (Co-Founder & CEO)
- Ex-Digital Strategy Lead for a publicly listed Engineering Consultancy
- Out of the box thinker with the ability to connect and distil large multimodal concepts into clear and understandable systems.
- Bapi Indrakumaran (COO & Co-Founder)
- Serial entrepreneur, founder and CFO for a £2m revenue B2B distribution business with a keen focus on finance, sales and operations.
- Experience in the private tuition sector from founding, running and scaling private tuition centres.
📖 Story
Bapi was private tutoring for 5+ years and scaled his business by training additional tutors to deliver more sessions, transitioning from 1:1 to Group lessons.
Very quickly becoming oversubscribed, however growing or creating a franchise of the centre was not a viable option. He met Rushab who had spent 10 years volunteering with children with disabilities - running holiday camps and youth clubs, he found the most important factor was trust.
By using common interests, Rushab created an environment where everyone felt confident to unlock their potential.
By combining the power of personality and group lessons in a scalable online environment, TutorHive has become the go to platform to connect students with tutors, educators, coaches, trainers and more.
👀 Reasons to watch
- They have a 93% successful match rate for students and teachers meaning a better learning journey for children who really need the support. Especially when students are struggling to engage and learn a subject they don't like, matching the right tutor can make all the difference to success or failure - especially in our academic system.
- They have made group lessons accessible meaning students can pay as little as £15 an hour, by combining students in groups of 6, they can achieve micro-economies of scale, pay the teachers £60 an hour and make £30 for themselves. This is a business model underpinned by social equity where they can make learning affordable.
- They have spun up a corporate version of the platform called "FinHive" and this allows employees to find the right trainer for them based on the CPD and Compliance requirements. Building this into the ecosystem allows them to eventually connect the two, creating a learning bridge from education to corporate in one seamless ecosystem.
- They have only taken on £72k of investment and self funded the rest, creating huge impact with a very low investment.