Australian EdTech firm Cluey plans growth in 2021 following IPO

January 2, 2021

Following a recent listing on the Australian Securities Exchange (ASX), Australian EdTech firm Cluey currently trades at $1.10 AUD

Australian EdTech firm Cluey recently listed on the Australian Securities Exchange (ASX)

Launched in 2018, Australian EdTech firm Cluey Learning delivers personalised online tutoring support for students in Years 2 -12, across Maths, English and Chemistry. Content is mapped to the Australian National Curriculum and is based on the learning needs of individual students. Cluey claims to have supported over 6,000 Australian families, run over 60,000 sessions and been rated 4.7/5 by parents and students. 

Following its recent listing on the ASX Cluey is currently trading at $1.10 AUD after reaching a high of $1.35 AUD following its IPO. It aims to use the additional funds to increase student enrollments and expand into additional markets.

Our listing is a significant milestone for our company. We’re excited about delivering our next phase of growth and we welcome our new investors on this journey…We continue to see strong growth in the demand for our services and are accelerating the recruitment of additional customer acquisition personnel ahead of the start of the new academic year in Q3 FY2021, our peak enrolment period…A range of new initiatives are on track to be delivered in Q3 FY2021, including small group tutoring for secondary school students, and we remain confident of achieving the FY2021 financial forecasts set out in our prospectus…Mark Rohald, Chief Executive Officer, Cluey

Source: https://www.fool.com.au/2020/12/09/cluey-asxclu-share-price-jumps-12-after-ipo-before-fading/

During the outbreak of Covid-19 Cluey was very active in helping parents and families with remote learning.  Cluey conducted a survey of parents during the home learning period.  The key findings can be toggled below.  

Key Findings

They better understand how their child learns as a result of at-home learning (over 65%)

Almost one third believe their child’s learning has suffered during this period

Lack of peer-to-peer learning has been the biggest educational challenge for their child (47%)

Their child likes or even loves online learning (48%)

” Many schools are already flagging the challenges represented by serving the needs of their students remotely. There is the more obvious issue of access to the appropriate technology and then comes the necessary skillset to deploy it effectively. Plus adapting what works in the classroom to an online environment isn’t always easy. These point to a potential issue of learning inequity that has not been fully anticipated or provided for…” Dr. Selina Samuels, Chief Learning Officer, Cluey Learning