The online tutoring market in the US is well-developed. Varsity Tutors raised $50m; Wiseant $20m; Tutor.com sold to IAC and InstaEdu was recently bought out. So it makes sense that this model would be big in other markets. This is the thinking behind MyTutor, a London-based edtech company that connects school pupils to high-performing university students for one-to-one, online tutorials.
Its now closed a 3 million Series A funding round led by Mobeus Equity Partners, and with participation from high-profile angels including Clive Cowdery (Resolution Capital) and Thomas Hoegh (Arts Alliance).
The startup interviewed 25,000 potential tutors and has approved over 3,500. To scale, it then turns its workforce into hirers themselves, paying them to interview other prospective tutors.
Pupils get personalised support online via a platform which has online video and white boarding, while for university students, it represents an attractive income and work that fits conveniently around their degrees.
For parents in particular they can have their children take a 15 minute free lesson online to try out the tutor and its much easier for families in rural areas to access while for urban ones it offers a cheaper alternative.
Whats different about what they are doing? Well they are attacking a very old-fashioned market with a scalable model.
The 2 billion UK private tutoring market is a fragmented space with most companies still offering in-person meetings or online directory-style services. Directories (like Tutor Hunt etc) are living off SEO value but dont offer quality assurance. They are relying on high SEO ratings but are not invested in success.