Bibliu raises £500k with support from Angel Investment Network
by Startacus Admin
Major investment news for the innovative digital education platform Bibliu...
Great news for Edtech startup BibliU with the announcement that it has raised £500,000 as part of a Series A extension funding round, supported by Angel Investment Network (AIN), the world’s largest online angel investment platform. The London-based startup is a digital education platform that provides students with digital access to their textbooks and libraries across all their devices. The campaign funding round, an addition to its £6.5m Series A, was in response to a surge in demand due to COVID 19. Completed in eight weeks, the funds will be used for new technical hires to support demand from Universities. The startup is scaling rapidly with 60+ new pilots across the globe.
Since being founded in 2014, the company now has over 100 university customers including Oxford, Imperial, University of Phoenix and Coventry University. It has digitised content from more than 2,000 publishers including: Pearson, McGraw-Hill, Oxford University Press. The content is licensed directly to universities, who can then provide access to students and include the costs in their existing tuition fees.
David Sherwood, CEO and co-founder of BibliU said:
“BibliU has seen rapid growth across the globe over the last few months, and we believe COVID has pulled the transition to digital learning forward by at least 5 years. We have always existed to assist universities with this transition, by providing an unmatched student experience in a cost-effective way.
BibliU is the perfect intersection for universities that are looking to create a seamless distance-learning experience, and do so in a way that introduces operational efficiencies to their workflows. We’re thrilled that AIN was able to assist us in this rapid extension to our Series A, and are excited to see where this round takes us.”
Sam Louis from Angel Investment Network, who led the raise, added:
“BibliU sits at a fantastic intersection of traditional learning structures and digital evolution. The business has broad reaching applications, a strong business model and most importantly, it delivers real value to its users.
EdTech is a tough area to gain real traction and I think what BibliU has stands apart from many of the others which is why we've seen such great uptake from investors. The COVID lockdowns have now accelerated adoption of digital learning and hopefully this will lead the way for more sustained growth in the EdTech space and of BibliU.”
Exciting times ahead - we look forward to seeing where this innovative EdTech startup goes from here!
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Published on: 12th August 2020
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