Supporting MyEdSpace in Shaping the Future of Education
We are thrilled to announce our latest investment in MyEdSpace, a pioneering edtech company that is building the most fun and engaging online school. We have invested in MyEdSpace alongside European edtech investors Emerge and EduCapital, following their rapid growth to £1.5M ARR with very little cash burn. MyEdSpace's innovative approach leverages the charisma and knowledge of top teachers, transforming them into social media influencers.
Their viral educational content not only captivates students and parents alike, but also efficiently converts them into leads for live interactive lessons from world-class teachers and tutoring support. They have seen significant growth across their offerings in mathematics, biology, and chemistry. With the addition of new courses in English, Physics and Economics, MyEdSpace is poised to solidify its presence in the UK and beyond.
Our conviction in MyEdSpace is further bolstered by the strategic vision of its founders, Kharis Yanakidis and Sean Hirons. Sean was recently awarded a Forbes 30 under 30 honoree for his work at MyEdSpace and used to work together with us in the Prosus EdTech team. Under their leadership, the team's agile execution and strong unit economics present a compelling case for scalability and sustainability.
This investment round will enable MyEdSpace to expand in and beyond the UK and test the global appeal of their courses, setting the stage for a robust Series A round. The decision to continue with their existing investor Emerge, who is doubling down, reflects a shared confidence in MyEdSpace's trajectory, the potential we see in this team and their market. The company aims to change the education industry by making world-class education in a tutoring format available to all students at affordable rates. The company’s stellar reviews on Trustpilot, high satisfaction and the fact that 97% of students would recommend the courses to others speak volumes. In education, where impact and innovation intersect, MyEdSpace stands out. We are excited to be part of their journey. Thank you for your continued support. Together, we are not just investing in companies; we are investing in the future.