Education technology company Snapplify has raised R30-million in “expansion capital” from venture capital firm Knife Capital via its Sars section 12J VC firm KNF Ventures and investment manager Hlayisani Capital’s Hlayisani Growth Fund.
The investment has been earmarked for Snapplify’s international expansion initiatives and to advance its data analytics capabilities to enhance classroom teaching effectiveness, Knife Capital said in a statement on Wednesday.
Snapplify specialises in “enabling digital learning for individuals and institutions by establishing a marketplace for digital education content, related educational services and devices”.
It offers e-learning solutions to about 1 400 schools, colleges and universities that are moving to digital learning and the use of e-books in the classroom. It gives about 200 000 students digital access to integrated learning tools and allows teachers to use blended learning and teaching methods.
It works with various governments and education departments to roll out e-learning solutions and materials to classrooms across Africa and describes itself as the largest e-book aggregator and distributor, with an e-book offering of 350 000 titles from over 250 publishers.
The Snappbox, Snapplify’s hardware distribution solution for e-books, allows schools with limited or no connectivity to access learning materials, saving data and download time.
“Snapplify is looking to change the way students access content in both developed and developing countries,” said Snapplify CEO Wesley Lynch. “We are excited to have Knife Capital and Hlayisani on board to enable this vision, particularly because in addition to financial backing, we also need expert guidance from an aligned shareholder base to expand more aggressively into new markets in our next growth phase.”
Snapplify was originally backed by AngelHub Ventures in its seed and series-A rounds, alongside international investors. AngelHub now forms part of Hlayisani Capital’s Growth Fund that includes a focus on education and edtech. The Hlayisani grouping includes businessman Reuel Khoza as well as the original AngelHub funders, Michael Jordaan and the Harris family.
Knife Capital’s Andrea Bӧhmert will join Snapplify’s board of directors.
Snapplify currently has offices in South Africa, Kenya, the Netherlands and the US. Knife Capital’s London presence will facilitate Snapplify’s UK expansion initiatives. — © 2019 NewsCentral Media