Promoting access to quality education for Africans everywhere
Company Overview
• Spring is an educational technology startup providing personalized online tutoring and learning solutions for Africans located everywhere
• It boosts of experienced, effective and welleducated and vetted tutors held to international standards with over 13 years of experience and over 10,000 hours taught on its platform
• The company’s solutions is built around 3 areas of lessons taught based on British curriculum, languages and computer programming
• Spring is one of the companies selected for the second cohort of the Google for Startups programme who will receive between $50,000 and $100,000 in equity-free funding.
Key Investment Highlights
• The company has been growing at 20% monthly since January 2022
• 75% of company’s revenues comes outside Nigeria
• To date, over 1,000 lessons have been taught to 85 students and $40,000 annual run-rate revenue recorded
• Huge market size of the global edtech market – $78 billion total addressable market.
• Target market includes about 150 million African children (diaspora Africans inclusive)
• The company is raising $1 million in pre-seed funding at a $6 million post-money valuation providing 18 – 24 months of runway for talent acquisition, marketing and others
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