Revision app Gojimo bags $1.8m from the crowd and private investors
UK edtech start-up founded by young entrepreneur George Burgess will use investment to develop new social and competitive features
Gojimo, the exam preparation app founded by young entrepreneur George Burgess, has secured an additional $1.8m in funding from high profile investors ad venture funds including Robin Klein, Deborah Quazzo, Boris Johnson's London Co-Investment Fund, Firestartr and the CrowdBnk platform.
On CrowdBnk, Gojimo smashed its £500,000 target to raise £1,115,411 in exchange for a 9.09% equity stake.
Launched in 2014, the app provides over 180,000 quiz questions for all major GCSE and A Level subjects, the 11+, 13+, and the International Baccalaureate, with full explanations for each and enables users to track their progress over time.
It claims that more than 300,000 students used the app in May 2015, accounting for 20% of all GCSE and A Level students.
The funding will be used to fuel the company’s growth over the next 12 months as it prepares for a Series A round, alongside the development of a social and competitive feature.
Burgess commented: “We are amazed by the reception Gojimo has had from British students. Its success proves that students are looking for modern methods of exam preparation that compliment or replace their physical books and practice papers”
Mayor of London Johnson, added:
“The London Co-Investment Fund was set up with the aim of helping ambitious and innovative tech companies just like Gojimo to get the support they need to bring their ideas to reality and deliver jobs and growth for the capital. Having joined me on a recent trade mission to Israel, I am sure this funding will help them go from strength to strength.”