NVM invests £3.2m Tutorful

The growth capital deal marks the firm’s eighth of 2019. The firm drew equity from its NVM Private Equity Vintage III fund, which closed on £142m in November 2018. The fund makes investments of £5-15m in the UK small-cap space and mid-market.

The fresh capital will be used to develop tools for the platform and extra content.

Previous funding
Crowdcube invested £704,700 in equity crowdfunding in 2017. InReach Ventures invested an undisclosed amount in a series-A for Tutorful.

Company
Founded in 2015, Tutorful is a platform that connects parents and students with local tutors covering more than 300 subjects. The company employs 30 staff at its headquarters in Sheffield.

People
NVM Private Equity - Ishaan Chilkoti (investment associate); Stephen Johnson (investment associate).

Advisers
Equity – Square One Law (legal); Palladium (commercial due diligence, IT due diligence); Tait Walker (financial due diligence); Confidas People (management due diligence); Ten Tenths Consulting (operational due diligence).
Company – Taylor Wessing (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• NVM Private Equity