Vivify, a digital booking platform to help schools rent facilities, has received a £ 1 million financial investment to help the platform continue to grow.
Founded in 2020, Northwest-based Vivify works with schools across the country to help rent out-of-school facilities to generate much-needed revenue.
“With costs such as rapidly rising energy bills, the rental of facilities can generate hundreds of thousands of pounds for a school and, in turn, help with pupil recruitment which brings additional funding.” – Russell Teale, CEO of Vivify
With the use of leisure facilities returning to pre-pandemic levels, Vivify says its platform is now used by over 70 schools and has helped thousands of rental groups and grassroots teams find and book local facilities. Vivify has also established relationships with national partners, such as Total Swimming Academies, with whom they launched the Movement Project, a national campaign led by Becky Adlington OBE to address the UK inactivity crisis.
Arete investors first met the company before launching its booking platform in 2020 and investing in 2021 to help fuel growth and add value through the team’s expertise.
This new funding round will help Vivify launch a new product by developing its platform into a SaaS solution, for schools that don’t need a managed service.
Simon Lord, partner of Arete, said: “The argument that school facilities can be exploited for the benefit of the community has been validated. Vivify has generated a significant amount of revenue for schools to date, and this new round of capital will allow the company to work with more schools by providing the technology to school stakeholders with limited time to easily start and run a in-house community rental program.
“We are very proud of the social and financial success the company has achieved to date for all stakeholders. We are delighted that high-caliber investors such as Bill Currie and Sir Terry Leahy, who have significant experience in the education sector, are joining Vivify in this funding round. “
Russell Teale, CEO of Vivify, added: “Arete’s initial investment allowed us to raise awareness about Vivify and provide a lifeline to schools, including some that ran a deficit budget. With costs such as rapidly rising energy bills, the rental of facilities can generate hundreds of thousands of pounds for a school and, in turn, help with pupil recruitment which brings additional funding.
“With 39% of existing sports facilities behind school gates, schools truly have a vital role to play in improving the nation’s health and this next phase of funding will help us launch a new product to enable more schools to join. to the movement to improve the physical and mental well-being of communities across the UK ”.
Vivify school rental platform receives £ 1 million investment
Source link Vivify school rental platform receives £ 1 million investment