2020 was a pivotal year for EdTech, and Showbie, a software platform helping educators transform their classrooms into engaging and collaborative virtual learning environments, has been at the forefront of the industry’s long overdue paradigm shift. Today they’re announcing a $7.5M extension to their Series A round that Rhino led in August last year. The additional financing includes participation from ATB Private Equity and debt financing from RBC, bringing total proceeds for this round to $12.5M.
Since closing the initial round of financing, the Showbie team has continued to impress us with their ability to execute at lightning speed. They’ve made exceptional progress having opened a new UK-based sales pod, built out their senior leadership team (including a Marketing Director and Head of UK Sales), rolled out their new “Showbie Certified Educator” course, and launched and integrated several best-in-class solutions to their bundled Showbie Pro+ offering, all while maintaining excellent growth.
It’s been full throttle since first partnering with the Showbie team less than 6 months ago and we’re thrilled to have helped Colin in securing this additional financing and debt facility in such a short period of time. Working with passionate entrepreneurs like Colin is the driving force behind everything we do at Rhino and we’re excited to provide our continued support as the Showbie team works relentlessly towards achieving their vision of improving learning outcomes helping students achieve academic success.
“It’s not just about the pre-investment diligence and eventual decision; the Rhino team has provided us with significant horsepower post investment that makes a significant and meaningful difference” Colin Bramm, Showbie CEO & Co-Founder
Their team has done a phenomenal job capitalizing on the increased demand, experiencing an 251% YoY increase in usage of their platform, while also implementing scalable new practices to support the next leg of Showbie’s growth story.
With this additional capital, Showbie is looking to further grow their team to continue executing on their ambitious roadmap which includes launching a new app in the Google Play (Android) Store, and improving administrator-focused features and reporting. They currently have career openings in sales, marketing, and engineering, both in Edmonton, AB, and Toronto, ON.
Having had the pleasure of working closely with the Showbie team, we are very optimistic about the future of the platform, as well as the wider hybrid learning environment, and look forward to another explosive year ahead!