Cape Town edtech company Snapplify announced today that it had raised $2-million (over R29-million) in expansion capital.
The money was raised from two SA funds — venture capital firm Knife Capital via its SA Revenue Service (Sars) Section 12J Venture Capital Company, KNF Ventures, and black empowerment investment manager Hlayisani Capital’s Hlayisani Growth Fund.
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In a statement today, Knife Capital said the investment will accelerate Snapplify’s international expansion initiatives and advance its data analytics capabilities to enhance classroom teaching effectiveness.
SA edtech Snapplify has raised $2m to help accelerate the company’s global expansion and advance its data analytics capabilities
Snapplify, which was founded in 2011 by Wesley Lynch (pictured above, second from right), offers elearning solutions to over 1400 schools, colleges and universities that are striving towards digital learning and the use of ebooks in the classroom.
Snapplify claims it’s Africa’s largest ebook aggregator and distributor, with an ebook offering of over 350,000 titles from over 250 publishers.
The company works with various governments and education departments to roll out elearning solutions and materials to classrooms across the continent.
The company claims to provide more than 200 000 students digital access to integrated learning tools and empowers teachers to embrace blended learning and teaching methods.
The Snappbox, Snapplify’s hardware distribution solution for ebooks, allows schools with limited or no connectivity to access learning materials, saving data and download time.
AngelHub now part of Hlayisani Capital
Snapplify was originally backed by AngelHub Ventures which invested an undisclosed amount in its seed and Series-A rounds, alongside international investors (see this story).
AngelHub now forms part of Hlayisani Capital’s Growth Fund that includes a focus on education and edtech. The Hlayisani grouping includes veteran SA businessman Dr Reuel Khoza as well as the original AngelHub funders — former FNB CEO Michael Jordaan and the Harris family.
Snapplify currently has offices across South Africa, as well as in Nairobi, Amsterdam and New Jersey. Knife Capital’s London presence will further capacitate Snapplify’s UK expansion initiatives.
This round of growth funding will enable the company to gain more customers and increase its market footprint through business development, growing the team and refining customer-led product features.
Read more: Snapplify to represent SA at next year’s Global Startup Edtech Awards finals
Read more: Snapplify joins Ed21 forum to tackle inefficient education system
Read more: Angelhub Ventures invests in Snapplify, Michael Jordaan joins board
Read more: Snapplify’s innovative ebook distribution hub wins FutureBook Award
Read more: Snapplify readies ebook distribution platform for SA schools
Read more: Snapplify’s innovative ebook distribution hub wins FutureBook Award
Read more: SnappBox from Snapplify enables rural schools to embrace ebooks
Read more: SA’s Snapplify eyes other emerging markets as it expands to South America
Read more: Snapplify plans global expansion with a shimmy into New York
Featured image (from left to right): Knife Capital’s Keet van Zyl and Andrea Bohmert with Snapplify CEO Wesley Lynch and Hlayisani Capital principle Brett Commaille (Supplied)
