Shaw Academy raises more than £1.1m on Crowdcube

9 Oct 2017

Image: Atstock Productions/Shutterstock

Irish start-up is targeting £2.1m in ambitious crowdfunding campaign.

Shaw Academy, the online education company led by James Egan, has raised more than £1.1m in just six days on Crowdcube.

The company was set up in 2013 and now employs more than 180 staff between Dublin and India. It is understood to be signing up more than 250,000 users per month.

The crowdfunding campaign is aimed at raising £2.1m in total, but could exceed that target.

Crowdcube, a UK-based crowdfunding platform, has emerged as a go-to marketplace for fundraising by Irish-led start-ups. In 2015, Sugru – the start-up founded by Kilkenny native Jane Ní Dhulchaointigh – raised £3.5m on the platform.

In recent weeks, HouseMyDog, an Irish-based Airbnb for dogs, broke records raising more than €200,000 in the first 36 hours on Crowdcube, before settling at £535,220.

Educating the world

According to its Crowdcube campaign, Shaw Academy has so far taught over 4m students, grossing over €25m in sales to date. It teaches students a variety of subjects live through its own bespoke software platform.

The company has partnered with brands like GoDaddy, Adobe, Vodafone and Flipkart and awards students with internationally accredited professional diplomas.

Shaw Academy has raised £1.114m from 595 investors so far, and it plans to use the funding from the crowd-sourced campaign to scale globally.

It began trading six days ago with an £83m pre-money valuation and offered investors 2.5pc equity.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years