Edurio education platform raises €636K

Education platform Edurio, based in Latvia and the UK, has raised €636K from Lithuanian Practica Capital and some business angels from Latvia, the UK, and Australia. 

The lead investor was a co-founder of Latvian fintech Twino Armands Broks. The UK Government's Business Bank has also provided a loan, which will be converted into equity in this round. During the deal, Edurio was valued at €5,84M.

Founded in London in 2014 by Ernests Jenavs and Janis Strods, Edurio has developed a survey management and data visualization platform for schools and multi-academy trusts. Edurio also offers a research-based library of surveys, covering topics such as staff retention, parental engagement, teaching, and learning. The startup designs surveys in partnership with academic experts and practitioners. The platform also allows educational institutions to receive feedback from teachers, students, and parents. 

The company will use the investment to expand its technical team and develop the product further for the UK market, which accounts for 85% of Edurio's revenue. The startup plans to offer a new service that will to allow customers to conduct more surveys and to begin integrating artificial intelligence solutions into its platform.

In Latvia, Edurio's platform is used by more than 650 schools and preschools, and in the UK, it is used by more than 1,5K schools. 

Vilnius-based Practica Capital was founded in 2012. Its Fund III focuses on equity and quasi-equity investments in early-stage technology investments in Estonia, Latvia, and Lithuania, and Baltic-origin companies in Europe targeting early-stage startups.