Kortext, a leading provider of educational technology solutions for higher education, has raised an undisclosed amount in funding from HSBC UK. With this investment round, the company will continue digital transformation in higher education across the UK and beyond, accelerating investment in AI technologies to revolutionise teaching and personalised learning, fostering engagement, enhancing well-being and facilitating successful student outcomes.
Founded in 2013, Kortex aims to empower the next generation of difference-makers through teaching and learning. It works closely with universities to offer an exciting opportunity of paid part-time, full-time and holiday internships and placements to be talented third and final-year students and recent graduates. It claims that the platform is used in over 4,500 universities worldwide. With a focus on learner analytics that supports student retention, engagement, continuation and successful outcomes, Kortext empowers institutions to embrace digital transformation and deliver exceptional educational experiences.
Speaking about the capital raised, Chief Executive Officer of Kortext, James Gray, said:
This endorsement of Kortext reinforces our position as an EdTech sector leader, building upon our remarkable three-fold company growth over the past couple of years. We are committed to partnering with universities to transform teaching and learning during this generational shift to digital in higher education, leveraging data to enhance student engagement and outcomes. Our platform enables and enriches higher education, and we are looking forward to working with the HSBC team to reach even more students to empower them to reach their full potential.
Headquartered in Bournemouth, UK, the company currently works with 4,700+ publishers, including Pearson, McGraw Hill, Wiley and Oxford University Press, and it supplies over 2 million digital books to students in 80 countries around the world.
Through HSBC’s strong international presence in markets such as India, Australia, sub-Saharan Africa, Southeast Asia and the Middle East, Kortext is well-positioned to capitalise upon new opportunities and deepen its global reach.
Roland Emmans, Head of UK Technology Sector & Growth Lending, HSBC UK, added:
We are delighted to be working with a company as innovative as Kortext – our Growth Lending Fund is for businesses who want to become global tech players by working with a global bank. HSBC UK has a strong and growing technology sector franchise – we are very excited to help better serve our high-growth scale-up tech customers as the go-to bank for internationally focused, UK-based tech firms.
HSBC UK launched the £250 million Growth Lending Fund in 2022 to support high-growth scale-ups earlier in their growth journey. The Fund provides access to finance and HSBC’s international expertise and will help businesses achieve their global ambitions.
This agreement marks a significant progression for Kortext in its 10th year and follows the successful Series B funding in 2021, which helped rapid power growth.