Solutionpath secures £1m in debt financing from Mercia to scale its remote learning platform
The funding package from Mercia will support team expansion and the wider rollout of the student engagement platform.
Solutionpath develops software platforms that monitor student engagement and alert universities when learners require support. The Leeds-based business works with higher education institutions to improve retention and personal outcomes.
Leeds-based educational technology firm Solutionpath has secured £1m in debt financing to scale its operations and adapt its platform for remote tuition. The capital package comprises funding from the NPIF - Mercia Debt Fund alongside an equal contribution from Mercia's SME Loans fund.
The investment will allow the student alert platform to roll out its technology to a broader range of universities and create 11 new roles. Solutionpath measures student engagement with academic activities to help tutors intervene early and offer personalised support.
From the founder
"Understanding student engagement and ensuring they have the right support has always been difficult for universities, but at a time when learning is moving online and students are spending more time alone, it is even more important. Solutionpath provides real-time feedback on how new practices are being received and enables them to spot vulnerable students or those at risk of dropping out."
Richard Gascoigne
CEO at Solutionpath
Investor perspective
"Solutionpath addresses two of the biggest challenges facing universities today – student wellbeing and success rates. Experience has shown that by identifying warning signs, they can take action to improve outcomes. The funding will allow more universities to benefit from this technology and help the company achieve its growth plans."
Chris Pestell
Mercia
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
Categories
About the company
Solutionpath
Solutionpath provides engagement analytics software for higher education institutions.