Zen Educate, an online marketplace that connects schools with substitute teachers and teaching assistants, has successfully raised $37 million in a Series B funding round. This marks the largest edtech funding round in Europe so far this year.
Schools and nurseries globally spend over $55 billion annually on temporary staffing, largely due to costly recruitment agency fees, outdated technology, and poor match rates. Recruitment agencies typically charge a margin of 35% per match in this fragmented market.
Zen Educate’s platform allows teachers and schools to create profiles and match based on proximity, skills, and experience, resulting in faster and more accurate matches. This reduces hiring costs and enables educational institutions to allocate resources more effectively, benefiting both teachers and schools.
In the past 12 months, educators using the Zen Educate platform have delivered over two million hours of education, saving the education system over $25 million in agency fees through its cost-effective approach. Slava Kremerman, co-founder and CEO of Zen Educate, commented, “We’ve been on a mission to solve schools’ workforce challenges. This investment brings us closer to our goal of helping the education system save over $100 million annually through our fairer, more efficient recruitment model.”
Zen Educate acquired Opus Education in February 2023 and more recently, Aquinas Education, which was co-owned by television presenter and former footballer Jermaine Jenas. Jenas will join Zen Educate as a brand ambassador.
The company currently operates in 11 regions across the UK and five states in the US, with plans to expand further in the US over the next two years. Through strategic acquisitions, Zen Educate aims to consolidate a fragmented market and transform the educational staffing sector globally.
Round2 Capital led the funding round, with support from existing investors Adjuvo, Brighteye Ventures, FJ Labs, Ascension Ventures, and prominent angels, including Octopus founder and CEO Simon Rogerson. Christian Czernich, co-founder and CEO of Round2 Capital, added, “Zen Educate has been successful in solving a significant challenge faced by educational facilities on a daily basis. The team’s deep understanding of the edtech landscape is evident, and their remarkable growth, nearly fivefold over the last 24 months, is a testament to their effectiveness.”
