12.01.2010 HU Spin-Off closes financing round
Berlin, 2010/01/12 – sofatutor.com receives growth capital from Hamburg-based investor J.C.M.B. and Berlin-based public fund for creative industries IBB Beteiligungsgesellschaft
Whether Pythagoras' theorem, Ohm's law or the cell structure: short video clips on the German education website sofatutor.com teach and explain various subjects in different levels. Besides high school mathematics, sciences and languages, sofatutor.com also offers sections on academic fields like economics. For mathematics, the most challenging subject for students, the website already offers more than 2000 video clips covering high school and basic college maths.
Launched in April 2009 in Berlin, sofatutor.com focuses on the concept of crowdsourcing: The same people who teach in schools or give private lessons offline are being turned into video-tutoring stars. „Talented teachers, tutors and other experts can earn money with their videos on sofatutor.com. We are working together with the existing actors in the education market, not against them,“ founder Stephan Bayer explains the philosophy of the business model. „That is why we already offer a wide range of professional education videos which are watched intensively by college - and high school students. This year, sofatutor.com wants to collect and offer content for all school subjects starting from grade 5 and also expand into academic fields.
Now supported by new VC investors J.C.M.B. and IBB Beteiligungsgesellschaft, gaining mainstream attention and accelerating growth are on the company‘s 2010-agenda. „We have kept an eye on sofatutor since the early start of the company and are convinced by the previous and present business development, the market potential and the team around the founders Stephan Bayer and Andreas Spading,“ Mischa Wetzel, investment manager at IBB explains his decision. Marcel Uhlemann, managing director at J.C.M.B., adds: „The idea is unique and the concept implies huge growth opportunities. The high quality content of sofatutor is continuously growing and offers an reasonably priced on-demand knowledge resource for millions of students who want to recapitulate lessons, prepare for exams or teach themselves.
The founders welcome the commitment of the new investors as a further boost of the company: „With additional funds and the know-how of the new shareholders, we can push for more intensive growth of both content and marketing.
sofatutor.com is an innovative online-education-platform. Short video tutorials are helping high school and college students to study for exams and recapitulate lessons. Subjects like mathematics, physics or economics are divided into short lessons. The tutorials are being produced by (ex-)teachers, tutors and students. Everyone can upload videos on sofatutor.com and earn money by participating in the revenue-sharing model of the service. Experts check the quality of each educational video before it is published. sofatutor offers subscriptions for 8-14 euros per month. The revenue is shared with the producers who earn royalties on a per-click basis. The startup sofatutor was founded in 2008 in Berlin and launched in 2009.
For more information visit
Article "Deutsche Start-Ups" 12 Jan 2010
Article "Tech Crunch" 12 Jan 2010
Contact Details sofatutor:
sofatutor GmbH Tel.: +49 (0) 30 2093 13 42
Ziegelstraße 13a E-Mail: stephan[at]sofatutor.com
10117 Berlin , Germany Web: www.sofatutor.com
J.C.M.B. Beteiligungs GmbH (www.jcmb.de) is a private investor, based in Hamburg, Germany, and invests in promising startups or established companies looking for growth capital. Its investment focus lays on industries connected to the internet, entertainment/ music, e-commerce, education
Contact Details J.C.M.B.:
J.C.M.B. Beteiligungs GmbH Tel.: +49 (0) 40 73 44 09 875
Marcel Uhlemann Fax: +49 (0) 40 73 44 09 889
Neuer Wall 46 E-Mail: marcel.uhlemann[at]jcmb.de
20354 Hamburg, Germany Web: www.jcmb.de
About IBB Beteiligungsgesellschaft mbH
IBB Beteiligungsgesellschaft (www.ibb-bet.de) offers venture capital for innovative Berlin-based
companies and has become the market leader in early stage investments in Berlin. Funds are
invested in development and market entry of innovative products and services as well as creative business models.
Currently, the IBB Beteiligungsgesellschaft manages two active funds: the technology-focused „VC Fonds Technologie Berlin“ with a volume of 52 Mio. € and the creative-industries-focused „VC Fonds Kreativwirtschaft Berlin“ with a volume of 30 Mio. €. Both funds are financed by the public bank „Investitionsbank Berlin (IBB)“ and the ERDF, the European Regional Development Fund, which is administrated by the federal state of Berlin. Since 1997, the IBB Beteiligungsgesellschaft has been involved in investments of more than € 650 mio of which the IBB Beteiligungsgesellschaft itself invested approximately € 83 Mio as a lead, co-lead or co-investor.
Contact Details IBB Beteiligungsgesellschaft GmbH:
IBB Beteiligungsgesellschaft mbH Tel.: +49 (0) 30 2125 3201
Mischa Wetzel Fax: +49 (0) 30 2125 3202
Bundesallee 171 E-Mail: venture[at]ibb-bet.de
10715 Berlin Web: www.ibb-bet.de