A software company which has developed a new system to help universities, colleges and schools engage with their learners has received a £250,000 investment from The North West Fund to support its growth.
The funding for Liverpool-based Collabco follows an earlier round in March 2014 and brings the total amount invested to £920,000. The funding has been provided jointly by The North West Fund for Venture Capital, managed by Enterprise Ventures, and The North West Fund for Digital & Creative, managed by AXM.
Collabco’s myday system is now used by over 30 further and higher education institutions across the UK and allows them to collate all the information that students need and present it in a modern-styled app. myday provides a dashboard bringing together everything from calendars, timetable, attendance, grades, library information, fines and payments to news and social media feeds, all tightly integrated with the institution’s virtual learning environment, and easily accessed from a single place on students’ laptop or mobile devices.
Collabco, which is based on Liverpool Science Park, was founded in 2009 by IT professional Dave Bown. Through its work in academia, he recognised the need for a product for learners and launched myday in 2011.
Matt Dunkin, Managing Director of Collabco, said: “Today’s students are digital natives. Higher education institutions need to communicate with them on their own level if they are to engage with them and help them achieve the best results.”
Lisa Ward of Enterprise Ventures, which manages The North West Fund for Venture Capital, said: “myday is a unique product which has really struck a chord within the higher education sector. The initial funding has allowed the company to accelerate marketing, sales and development of myday, creating new jobs in each of these areas. This latest round will allow continued development to enable learners to interact in real time with each other and their tutors.”
Enterprise Ventures was advised on the investment in Collabco by Melanie Yeomans, Corporate Finance Partner at law firm Ward Hadaway’s Manchester office.
The North West Fund for Venture Capital and The North West Fund for Digital & Creative are financed jointly by the European Regional Development Fund and the European Investment Bank.