MORPHOSE CAPITAL SECURES INVESTMENT FOR "EdTech" SHERPA'S GLOBAL ROLLOUT
LONDON, Dec. 19, 2022 /PRNewswire/ -- Morphose Capital Partners, London-based specialist in Mergers and Acquisitions, corporate restructuring and finance, completes a further round of funding to support 'EdTech' Sherpa's global expansion. In addition to existing investors agreeing further funding, Morphose secured funding from an additional six new high net worth investors.
Launched in January 2020, Sherpa's proprietary online tuition platform hosts in excess of 3500 sessions each month, enabling students at all levels to benefit from expert online tuition from its 2,600 highly vetted tutors. Over 70% of Sherpa tutors are qualified teachers, all are experienced tutors with some working as university lecturers.
Sherpa has developed a virtual tuition environment with advanced educational features including interactive video, whiteboards, mark-up and notetaking technology to create an optimum environment for remote learning. To ensure a consistent and exceptional quality of teaching, Sherpa operates a vigorous vetting process only accepting on average one in seven tutor applicants. Designed to ensure that students can easily find the best tutor for their own level and needs, Sherpa's proprietary platform deploys best-match algorithms for intuitive tutor selection.
Nick Atherton, Venture Partner at Morphose Capital Partners comments: "The Online education market in the UK is poised to grow 11-14% annually from £3.8Bn to over £6Bn by 20261. This significant surge in growth is in part fueled by an acute and urgent need to compensate students for lost learning time resulting from the pandemic. But increasingly sophisticated technology platforms such as Sherpa have also played an important part in driving demand by providing a seamless virtual tuition environment. Moreover, the Sherpa platform offers access to a pool of geographically dispersed, highly qualified, vetted experts who simply wouldn't be accessible In a traditional face-to-face session. This is the future and direction of travel of education."
Atherton continues, "we've greatly enjoyed working with Sherpa Online, which has proved a compelling proposition to our network of private Investors and are excited to be assisting with the next stage of its journey."
The funds raised will be used to enhance functionality, enrich its curriculum-aligned content, launch innovative new offerings and to expand globally into new territories to capitalise on the booming tuition market forecast at £70 Billion Global Market for Online Training and Education2.
Conor Hughes, CTO and Founder of Sherpa comments "We'd like to thank Morphose for their support, advice and expertise in securing this latest round of funding. Following on from our successes in the UK, we're ready to expand geographically to widen access to our highly vetted community of teachers. We continually invest in improvements to our technology platform, and have some Incredibly exciting products In the pipeline. I'm confident that our commitment to product innovation will help shape the future of online learning."
About Morphose Capital Partners
Morphose Capital Partners specialises in mergers and acquisitions, corporate finance and restructuring with unique sector expertise in Insurance, Health and Wellbeing Services, Property, Facilities Management, Recruitment and Technology. Established in 2008, Morphose works with clients to identify and pursue the best strategic buy and sell-side match for M&A. The Morphose advisory team is led by current and former business owners with deep market knowledge and first-hand experience of the M&A process enabling them to provide practical, insightful and informed advice to other business owners.
Morphose Capital Partners is the trading name of Morphose Ltd. Morphose Ltd is authorised and regulated by the Financial Conduct Authority.
About Sherpa Online
Launched In 2020 In the UK, Sherpa Online Is a proprietary virtual tuition platform designed to ensure that students can easily find the best tutor for their own level and needs. Sherpa has developed a virtual tuition environment with advanced educational features including interactive video, whiteboards, mark-up and notetaking technology to create an optimum environment for remote learning. To ensure a consistent and exceptional quality of teaching, Sherpa operates a vigorous vetting process only accepting on average one in seven tutor applicants, meaning that students have access to exceptional tuition wherever they might be.
Contact: nickatherton@morphose.co.uk
1IBIS World Report 2021
2Global Private Tutoring Industry Report, Global Industry Analysts Feb 2022
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