Zen Educate, the staffing platform for schools and teachers, announced £5.6 million of funding led by Europe’s largest EdTech VC, Brighteye Ventures, with support from existing investors such as Adjuvo and Nick Hungerford.
The London-based startup provides an online alternative to recruitment agencies, so that schools can fill staffing needs quickly and cost-effectively. The only online platform accredited by the UK’s Department of Education, Zen Educate currently works with 10% of schools in London and over 4,000 teachers.
Slava Kremerman, co-founder and CEO of Zen Educate said: “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. By removing the middleman, teachers and schools can cover staff absence with ease, reducing uncertainty, increasing wages, and saving costs.”
Schools using the platform have reportedly saved 20-30 percent on their supply cover costs. Zen Educate has already saved the education system a total of £600,000 since its launch in 2017, and plans to save schools £2 million by the end of the year. The five-year goal is much higher.
“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,” said Kremerman.
With the new investment, the company aims to onboard an additional 2,000 schools and 20,000 teachers, while tripling the team headcount by the end of 2019. It will continue to develop its “match algorithm,” which provides schools and teachers with an intelligent matching solution for short and long-term roles.
To date Zen Educate has raised £8.2 million, the largest funding round ever for a teacher recruitment technology business.