App for university hopefuls secures £275,000 funding
A social network designed to help young people research, compare and discuss their university and career options has secured £275,000 in its second funding round.
Coursematch matches students with of relevant degree courses from providers across the UK.
The company also secured investment from seven angel investors including Dhiraj Mukherjee, founder of Shazam.
"My focus is helping start-ups which create a positive impact on society, and I am fully supportive of Coursematch’s mission to help young people make better education and career choices," Mukherjee said.
Coursematch hopes to secure 30,000 active users and to further develop the app, add new features and establish key commercial partnerships with private companies and universities.
Founder and chief executive Chris Worsey said: "I first looked at university courses in 2001. There wasn’t a platform that allowed me to consider multiple university courses in one place, access the information on course providers I needed, or even talk to other students outside of my social circle (this was pre-Facebook). Almost two decades later, nothing has changed.
"There are more than 50,000 different undergraduate courses provided by almost 400 institutions in the UK. In our initial market research, we found that students consider just seven courses on average before applying to universities, predominantly informed by the opinions of friends and family.
"It would take most people longer to decide on the right pair of jeans, and yet this is a decision that could cost upwards of £27,000 and change a young person's life forever."
The funding round was led by the Development Bank of Wales, following an introduction to the company through Colin Batten of Innovation Point.
"Let’s not allow 'innovation’ to become a cliché. Chris and Joe spotted a problem, designed a unique digital solution, and generated an impressive investment," Batten said.
“That's innovation – signed, sealed, delivered. They will have no trouble exploiting this market from a bustling tech hub in Cardiff."