Totally RAD Expands EdTech Platform with £100,000 Investment

Deal News | Oct 31, 2024 | Business Cloud

Totally RAD Expands EdTech Platform with £100,000 Investment

Totally RAD, the Warwickshire-based music tuition provider, has secured £100,000 in funding from the Midlands Engine Investment Fund II, managed by Frontier Development Capital. This investment aims to support the expansion of their newly launched online platform, which will target adult learners in addition to the schools they currently serve. Founded in 2013 by Christopher Rush, the company has rapidly become the largest private music tuition provider in the UK. With a network of over 200 teachers, they offer tuition across various instruments and vocals in over 300 schools, handling administrative tasks and providing instruments at no cost to the schools. The new funding will also facilitate job creation, with five additional roles anticipated. The company's move into online education not only enhances its existing services but also broadens potential market access, while maintaining support for professional musicians. The investment has been highlighted as a significant contribution to the region's economic growth.

Sectors

  • EdTech
  • Music Education
  • Private Equity/Venture Capital

Geography

  • United Kingdom – Totally RAD is based in Warwickshire and operates across the UK, while the investment comes from the Midlands Engine Investment Fund II.

Industry

  • EdTech – The article discusses Totally RAD's development of an online platform aimed at enhancing and expanding their educational services through technology.
  • Music Education – Totally RAD offers music tuition and lessons in schools, making it a player in the music education industry.
  • Private Equity/Venture Capital – The Midlands Engine Investment Fund II's involvement denotes activity in the private equity and venture capital sector through funding support.

Financials

  • £100,000 – The amount of debt finance secured by Totally RAD from the Midlands Engine Investment Fund II.
  • £1.2m – Projected income from schools for Totally RAD in the current financial year.

Participants

NameRoleTypeDescription
Totally RADTarget companyCompanyA Warwickshire-based company providing music lessons in schools and developing an online platform for music education.
Midlands Engine Investment Fund IIInvestorCompanyA fund that supports growing businesses in the Midlands region of the UK, managed by Frontier Development Capital.
Frontier Development Capital (FDC)Fund ManagerCompanyThe appointed fund manager for the Midlands Engine Investment Fund II.
Christopher RushFounder & CEOPersonFounder and CEO of Totally RAD, professional drummer, and session artist for Sony.
David TindallSenior Investment ManagerPersonSenior Investment Manager at the British Business Bank, involved with the Midlands Engine Investment Fund II.
Marie KellyInvestment ManagerPersonInvestment Manager at Frontier Development Capital, involved with the funding of Totally RAD.