Zen Educate, an online marketplace that connects schools and teachers, has raised $37 million in Series B funding.
The pay increases come as the teacher shortage crisis deepens on both sides, with a recent report from the ADP Institute finding that the global pandemic has disrupted existing demand due to “stagnant wages and stressful working conditions.” It points out that this has exacerbated the supply imbalance.
Founded in London in 2017, Zen Educate replaces traditional third-party recruitment agencies that use analog workflows and often charge exorbitant fees. Zen Educate digitizes everything through its self-service platform, removing expensive middlemen from the equation in its process. Through the platform, teachers and schools create profiles, allowing Zen Educate to automatically match the two entities based on compatibility, using data such as proximity, skills and experience, among other priorities.
While schools can use Zen Educate to hire for full-time positions, teachers can also use Zen Educate to more easily find temporary or part-time positions that fit around their lives.
“As with all sectors, educators are looking for more flexibility in their work, which is why there is a growing need for flexible working solutions like Zen Educate in education settings,” said Zen Educate Co-Founder. CEO and CEO Slava Kremerman told TechCrunch.
In addition to that, Zen Educate promises higher salaries considering it takes less than existing agencies
“The average adoption rate for established industries is 35 to 38 percent,” Kremerman says. “We're a little over half of that. As a result, teachers earn more and schools save money.”
Zen Educate App Image Credit: Zen Educate
expansion
Zen Educate raised $21 million in a Series A round in late 2022 as it looks to expand into the U.S. market after a soft launch in Minneapolis. The company currently operates in 11 regions in England, as well as four states: Texas, Colorado, California and Arizona. And more than 15% of his 300 employees are currently based in the United States.
“Since our soft launch in Minneapolis, we're now the second-largest provider in the state,” Kremerman said. “We operate across five states and work with nine of the top 200 largest school districts in the nation.”
Kremerman also said the technology-based approach helped the company adapt to the different regulatory environment in the United States.
“Licensing is determined state by state, but England and Wales have standardized national standards,” Kremermann said. “Many traditional staffing agencies struggle with this, but we are able to quickly adapt and deploy across states using credentialing technology.”
The company said it has another $37 million in the bank and plans to expand into more markets in the US and UK and launch new software for school administrators. This includes adding tools to school personnel management software for credentialing, compliance, and authentication. Absence management.
Additionally, Zen Educate has strengthened its resources through acquisitions, today announcing its second-ever acquisition of teacher staffing company Aquinas Education.The company said it intended to complete several more acquisitions in both the U.S. and the U.K.
Notably, Aquinas Education is co-owned by former professional soccer player and current TV presenter Jermaine Jenas, who has become Zen Educate's brand ambassador as part of the acquisition.
Zen Educate's Series B round was led by Round2 Capital with participation from Adjuvo, Brighteye Ventures, FJ Labs, Ascension Ventures, and several angels.