With the coronavirus situation developing at pace, remote working and teaching is set to become the norm.
Already, we are seeing “coronavirus-proof” companies like Zoom, surge in the current climate; giving reason to believe other businesses and platforms immune to such pandemics, will also thrive moving forward.
One such “pandemic-proof” company is Perfectly Spoken. Since launching its online English Teaching platform and monthly subscription model last year, Perfectly Spoken has grown its user base to more than 325,000 across 200 countries/territories.
The platform is attracting a staggering 600 new sign ups each day, with 1 in 3 visitors creating an account – all through organic search and effective social media.
The net effect is that the company is already generating monthly recurring revenue of USD $10k – a figure on an upward trajectory.
The numbers make for excellent reading, and with the platform already built and working so well, the company is now eager to close off this initial round of just £100k (£60k has already been pledged), in order to boost its marketing efforts and ramp up its conversion rates.
By 2020, the British Council estimates that there will be 2 billion learners of English, 85% of whom will seek self-learning methods; and Perfectly Spoken has created an affordable and flexible solution to meet this massive demand.
Delivered by a team that combines experts from online businesses and English language teaching, Perfectly Spoken’s platform offers a set of compelling benefits for subscribers, including certification and premium learning materials. This is why it is attracting such large user-numbers.
The digital learning market is currently valued at USD$3.8Bn and growing fast, reflecting an upward trend of learners transitioning from traditional classrooms to online.
This EdTech boom has seen some well documented acquisitions in the hundreds of millions of dollars. The current global situation could see these companies continue to be attractive propositions for acquisitive companies.
Now well beyond proof-of-concept stage and generating monthly recurring revenue of USD $10k, Perfectly Spoken is seeking just £100k of investment at a modest pre-money valuation of £1m.
The company has a target valuation of £8m-£10m in 4 years’ time, which would mean a return of 8-10x for seed investors, notwithstanding the immediate 30% tax rebate and other benefits associated with the business’ EIS status.
To learn more about Perfectly Spoken you can click here for the full Information Memorandum.