# Virtual Class

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/virtual-class

- Industry: Education/Training
- Headquarters: London, UK
- Website: www.thirdspacelearning.com
- Total disclosed funding: $8.9M
- Latest round: Series A (Jun 20, 2018)
- Investors on record: 5

## About

Virtual Class Ltd. is an educational technology company that provides AI-driven online maths tutoring designed for primary and secondary school pupils, enhancing learning through interactive and personalized experiences.Founded in 2012 in London, UK, Virtual Class Ltd. operates under the brand Third Space Learning. The company focuses on delivering online maths tutoring services utilizing AI technology. Tom Hooper serves as both the Founder and CEO. The company has successfully completed 4 deals, with the most recent funding round being a Series A round in June 2018, raising GBP 4.75 million from Albion Capital and Downing Ventures. The entire amount raised to date totals GBP 4.75 million.Third Space Learning specializes in AI-driven online maths tutoring primarily designed for primary and secondary school pupils. Their core product is Skye, an AI tutor developed to facilitate interactive, real-time mathematical discussions, making tutoring accessible and affordable for schools. The platform aligns with the National Curriculum, catering specifically to students in Years 4-6 and those preparing for GCSEs. Third Space Learning's services support over 4,100 schools and approximately 170,000 students across the UK, US, and other international markets. The tutoring programs aim to improve foundational maths skills while addressing individual learning gaps through regular assessments and personalized lesson plans.Third Space Learning operates on a subscription-based revenue model, providing schools with annual access to its AI tutoring services. For instance, one-form entry schools are charged GBP 3,500 annually, while two-form and three-form entry schools pay GBP 5,000 and GBP 6,000, respectively. This pricing structure allows unlimited tutoring sessions for enrolled students without incurring per-session fees. The service is also available to secondary schools for GBP 5,000 annually, which includes support for GCSE revision and targeted tutoring interventions, facilitating extensive one-on-one assistance in educational settings.In June 2018, Virtual Class Ltd. raised GBP 4.75 million through a Series A funding round led by investors Albion Capital and Downing Ventures. The company plans to utilize this funding to enhance its AI tutoring platform and expand its offerings. Future initiatives include the development of additional educational products tailored to various learning stages, as well as targeted expansion into new international markets, although specific regions and timelines have yet to be disclosed.

## Funding rounds

- Series A, Jun 20, 2018, $6.3M — Albion Capital, Downing
- Series A, Jul 7, 2015, $2.3M — NESTA Investments, Ananda Impact Ventures
- Seed, Feb 1, 2015 — Eden Rock Group
- Seed, Dec 7, 2012, $0.2M — Eden Rock Group

## Investors

- Eden Rock Group (https://capitalatlas.ai/funds/eden-rock-group) — Seed
- NESTA Investments — Series A
- Ananda Impact Ventures (https://capitalatlas.ai/funds/ananda-impact-ventures) — Series A
- Albion Capital — Series A
- Downing (https://capitalatlas.ai/funds/downing) — Series A