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At a glance

Edumentors is a tutoring platform changing education with role-model tutors and AI.

• Student-tutors from top universities who make studying engaging and significantly more effective with their AI tools.

• “My son looked at me and said: Physics finally makes sense!

  Thank you Edumentors.” Parent customer of Edumentors.

Quick fire details

• Headquarters: London

• Employee count: 35

• Business model: Marketplace (Subscription to AI Co-pilot coming)

• Backed by: Raised $650k pre-seed)

  • 12 new investors committed in this rounds (and investors from pre-seed).

  • VC investor: Magna Investments (and currently talking to a VC fund who wants to lead their next Series A Round.)

• Funding amount: $1.5m committed ($200k from founder). Raising £2m Seed Round.

The founders

• Tornike Asatiani, Founder and CEO: 2nd time founder (profitable since 2016) LBS MBA and Forbes Georgia 30 under 30.

The market

• The Covid-19 pandemic made online the new norm and Global Online Tutoring isn’t an exception with it set to reach $27bn by 2030 (14.2% CAGR).

This startup is solving one key problem:

• Education is still one-to-many and schooling systems are outdated (affecting 200,000,000+ school kids).

^{The quicker pitch: Chosen Ventures}

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Traction metrics

• Marketplace launched in 2022. Helped thousands of students in 16 countries so far.

• Sales to date: $1.9m+

• Growth YoY: 3x+

• 2 AI tools in progress and plan to launch exam simulation tool and auto-progress monitoring tool (AI co-pilot).

Competitive landscape

• GoStudent (Austrian based edtech unicorn - raised $779m and valued at $3bn) and due to the market size, Edumentors have numerous local competitors in every market they operate in (e.g. MyTutor and tutorful).

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Our Take

Appeals

• Tool virality: Launched MarkMyGCSE, an exam marking tool. Students upload their GCSE exam papers, select their exam board and the AI will give them detailed feedback in seconds. This tool went viral among the kids with thousands of uses without any marketing cost by sharing in forums and student groups.

• Oxford and Cambridge global defensibility: British and International schools are present in nearly every country. Edumentors are able to enter geographies where none of their UK competitors have a chance to expand to. E.g. a student-tutor from Cambridge brings additional benefits in the GCC region (Singapore, HK and Malaysia).

Risks

• Maintaining a low CAC: Could be challenging while scaling across new regions and customer segments. Especially in a competitive tutoring landscape. Mitigating this through organic channels, referral incentives, and targeted partnerships.

• Consistent tutor quality and engagement: Essential to deliver on educational promise. As they scale, tutor onboarding and ongoing training may need more automation and quality checks.

• Education regulations or public sector priorities: E.g., AI in education, after-school program funding could impact growth. Edumentors are diversifying their offerings and markets to remain adaptive.

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