EdTech – Charting a course to business success

In the first half of 2020, investment in EdTech soared

Companies in the industry have garnered some $10.5 billion in funding

– with two Chinese EdTech businesses recently receiving $1.75bn in funding alone. Company valuations too, are soaring. BYJU’s – an India-based e-learning start-up and itself the recipient of a recent $400M investment, became the first EdTech to be dubbed a ‘decacorn’ with a valuation in excess of $10 Billion. And, over the pond, MOOC (massive open online course) providers Udemy and Coursera are both valued in excess of $2 Billion, and climbing rapidly.

 

Although EdTech has seen healthy growth over the past few years, it is the events of the past few months that has put it firmly in the spotlight. The pandemic saw educational institutions closed in 107 countries, affecting more than 860 million students – with many classes migrating online. But it’s not just traditional education that’s turning to digital. With lifelong learning expected to become a societal norm, adults too are tapping into online education – both for business and leisure – and it’s growing fast.

 

With the sector poised for accelerated growth rates, EdTech must be prepared to scale like never before. Investment in internal systems to support growth in customers – both B2B and B2C – will be critical. Operations need to well managed – not only to support the student experience, but to ensure that rapid scale can be supported effectively as demand accelerates.

Critical to success

Below we highlight several areas we see as a critical to the success of any EdTech business looking to grow their business:

Deliver a great Student Experience

Streamline business process to reduce operational cost

Deploy advanced analytics accelerate sales growth

Support an increasingly mobile workforce

Helping to deliver the Salesforce Service

Venerate are helping to deliver the Salesforce Service Cloud to transform the student experience at one of the leading EdTech institutions globally. The Salesforce platform can afford EdTech businesses everywhere the opportunity to redefine their student experience, deliver efficient and modernised support for their agents (wherever they are based), and help grow revenues during times of unprecedented change.
Business meeting. Our Salesforce experts design and implement large scale, integrated digital solutions that support growth and a seamless customer experience. To find out more about Venerate Solutions, a salesforce partner, simply get in touch on 0118 949 8973

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