Third Space Learning (TSL), the UK’s leading online tutoring company, has completed a £4.3m funding extension from existing investors, Ananda, Downing Ventures, NESTA and the UCL Technology Fund.
The recent investment was made over two stages to support development since the Series-A funding round which initially closed in 2017. The company has now raised a total of £12.2m in equity funding.
Third Space Learning was founded by Tom Hooper in 2013, developing a model that recruits tutors in emerging markets such as India and Sri Lanka, to provide scalable, high-quality and low-cost online tuition. The company’s particular focus has been on establishing this model to support pupils from disadvantaged backgrounds in UK state schools. Third Space Learning has now delivered over 800,000 hours of teaching to just under 70,000 pupils in the UK, over 50% of whom are eligible for Free School Meals.
The new investment will be focused on expanding Third Space Learning’s market position in the UK, where there is a surge in demand as schools look to help pupils catch up in the face of academic disruption from Covid and school closures. In addition Third Space Learning is starting to expand from Primary to Secondary school tuition, and to international markets, notably the US. The company’s goal is to grow its global tutor model to serve students at primary and secondary level across English speaking markets globally.
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