Cloud-based EdTech management system, TeachKloud, has announced a €750.000 investment led by Frontline Ventures backed by the AIB Discovery Fund, along with funding from Enterprise Ireland, Folens, and EdTech entrepreneur and investor, Sean Tai.
Poised to reach over €215.78 Billion by the year 2025, Early Childhood Education is a lucrative business. There are over 15 million children of preschool going age in Europe and almost one million childcare services in the U.S. Yet, early childhood educators in Ireland still spend over two hours on administrative efforts per day – severely impacting their ability to devote required resources to curriculum development and educational activities.
The TeachKloud Early Learning Management System is a cloud-based Software as a Service (SaaS) solution accessible using internet browsers from any location, that enables educators to streamline all aspects related to managing their business, comply with regulations and communicate with parents.
“Our platform is based on four key pillars” explains CEO and Founder Wendy Oke “Operational Excellence; designed to deliver continuous monitoring of services, Security; to ensure confidentiality and integrity of customers data, Reliability; including secondary backup devices, and Performance Efficiency; designed to adhere to our commitment on sustainability and energy, and automatically increase system resources only when workload demands exist. Our vision is to provide quality early childhood education to every child,” She added, “no matter who they are, or where they come from – by empowering their teachers and parents to provide individualised learning and provide safer educational environments”
The funding round will be used to hire additional full-time engineering resources in Cork, Ireland, and to fuel growth into UK and US markets.
“As primary caregivers continue to move more into the workplace, there is an increasing need for better support around childcare and education centres”. Says Finn Murphy, Principal at Frontline Ventures “We believe this will be an area of explosive growth as parents expect to get more updates related to the development of their children via mobile applications – this is a technology enabled market that Teachkloud is uniquely positioned to lead.”
“Supporting new and innovative business is of vital importance to AIB which is why we’re delighted to be backing TeachKloud via the AIB Discovery Fund.” Added Cathy Bryce, Managing Director, Corporate Institutional Banking, AIB. “We’re particularly delighted to be supporting a business founded and led by a young female entrepreneur as we look to encourage more women to showcase their entrepreneurial talents. With this investment from the AIB Discovery Fund, TeachKloud will be able to scale their business internationally and we look forward to working with them as they grow and make a positive impact across the educational sector” Added Cathy Bryce, Managing Director, Corporate Institutional Banking , AIB.