Kortext creates 50 jobs with £ 15million funding from Zoopla and Cazoo supporter
A BOURNEMOUTH company that provides millions of college textbooks electronically has attracted £ 15million and created 50 jobs.
Kortext, which employs around 130 people in the city, has seen demand for its platform increase by 300% in one year.
The company has secured investments from DMG Ventures, which has a proven track record of supporting digitally driven businesses, including the Zoopla real estate platform and car sales site Cazoo, the growing British tech ‘unicorn’ fastest ever.
Paul Zwillenberg, Managing Director of DMGT, will join Kortext’s board of directors.
Kortext says the shift to distance lending and blended learning during the pandemic has accelerated demand for its services. Its platform hosts millions of electronic textbooks from over 4,000 publishers.
James Gray, CEO and Founder of Kortext, said: “Our primary focus behind this fundraiser is the continued investment in the Kortext platform to help our higher education clients.
“Our clients include Exeter, Manchester, Cambridge, Oxford, Birmingham, Edinburgh and Kings College, with a total of 21 of the 24 universities in the Russell Group.
“For over 100 UK universities and many more abroad, we offer the best, most integrated online learning experience for academics and students.”
He added: ‘We are proud to be the UK market leader and partner with these amazing universities as they move towards providing students with all of their learning content on their own terms. of schooling.
“The fact that students no longer have to buy their own textbooks is a real leveler in terms of equal access to personalized and highly engaging learning content. To support this change, we are also working with universities and leading global publishers to deliver the learning content required under new, innovative and affordable models that help bridge the digital poverty gap by enabling students to study anytime, anywhere and from any device. . Over the past 12 months, our platform has been used in over 200 countries and territories around the world, illustrating the true potential of online content delivery and borderless education.
“At the onset of the pandemic, working with academia, Microsoft and major textbook publishers, we were able to provide free access to digital textbooks to every student in the UK through the Free Student eTextbook Program (FSTP ). Since then, we’ve been supporting universities and their students, helping students around the world to continue their education when they haven’t been able to access their physical campuses and libraries.
“Feedback from academics and students has been overwhelmingly positive and more and more universities are turning to Kortext to provide a truly engaging online learning environment where course content is central to the learning experience. . ”
He added, “To help maintain this growth, we have invested heavily in our team, doubling in size over the past year, enabling us to provide unprecedented support to universities, their students, academics and others. to their libraries as they continue to migrate to a digital first strategy. This investment will help fund additional job growth over the next 12 months as demand for Kortext services continues to grow. We have doubled in size over the past year and now employ 130 people. We are currently recruiting for 50 new positions.
Paul Zwillenberg said: “I am excited about the opportunities pursued by Kortext. The need for technological change in the education sector has long been a dream. Market conditions – closing the Covid education gap and the need for a swift shift to blended learning – mean the time is right for a UK success story like Kortext to truly flourish.
“But it’s also a sustainable investment: they have great fundamentals in place and a big reach in a sector they know well. I look forward to working with James and his team.