South African edtech startup, d6 Group has raised an undisclosed amount in investment funding from Knife Capital, Hlayisani Growth Fund Stellenbosch, and NuState Ventures.
The cloud-based management and communication platform is reportedly the most widely used in Africa and plans to use the secured investment towards the international expansion of its services and company. In addition, the funding will be used to further develop products.
Founded in 2010 with headquarters in both Gauteng and Pretoria, d6 Group provides a one-stop cutting-edge platform where educational institutions can manage all their operations and conduct comprehensive communication between a school, parents, and learners.
The platform includes payment facilitation solutions and a fully integrated cloud-based school administration, curriculum, and finance system. Currently, the platform is used by over 2800 schools.
“We are extremely excited about our new investors because of their proven track record and ability to support tech businesses to scale internationally.” Willem Kitshoff, CEO of the d6 Group said. “We have a strong market footprint and technology foundation and with this new strategic investment support, we are now able to pursue our local, as well as international growth aspirations.”
The CEO claims the d6 application currently enables over a million parents to keep up to date with school-related matters in the lives of their children/wards.
“The chat apps typically used within friendship groups don’t provide for the sophistication and security required for a school environment,” he says.
Following this investment, Knife Capital, Hlayisani, and NuState combined will be the majority shareholders of the startup.
Keet van Zyl, the co-founder of Knife Capital comments on the investment made into the innovative edtech company.
“Alignment of shareholder interest behind a motivated entrepreneurial team is a critical strategic building block for creating value and Knife Capital is delighted to partner with these credible investors. We liked that d6 wasn’t dependent on the investment from a cash flow runway perspective, but the funds will enable them to scale more rapidly. This is a high-growth business with an amazing product, recurring revenue, and a huge addressable market.”