Maths Pathway combines world class teacher training and support with a customised learning model that aims to address a decline in the maths competencies of school students by transforming the way the subject is taught in classrooms. In 2015, private investors and Foresters Community Finance provided $700,000 to help scale the business and take their learning module to more schools, teachers and students. By October 2015, Maths Pathway’s platform was being used by 912 teachers, 22,158 students and 109 schools across Australia. Maths Pathway is aiming to take their learning model to double the number of schools every year, as this is the optimal amount to maintain the current level of impact they are seeking.
To scale the business and take Maths Pathway’s online learning platform to more schools, teachers and students.
Currently there are approximately 1.6 million high school students in Australia who can benefit from Maths Pathway’s learning model. In addition to servicing Australian high school students, Maths Pathway learning model can be scaled into international markets.
Maths Pathway was founded in June 2013 as a for profit social venture. Maths Pathway’s aim is to double the number of schools using their learning model each year to the point where all high school students in Australia are using their learning model to study maths. Maths Pathway will also look to take their learning model internationally as they continue to impact students in Australia.
Private investors and impact fund investment.
– $500,000 (Equity)
Impact fund investment
Foresters Community Finance Fund
– Social Enterprise (Debt), and Foresters Social Enterprise Finance Fund (Debt)
– $300,000 provided in two different tranches by way of a 5 year loans with variable interest
Capital Collaboration Pty Ltd
After founding the business in June 2013, Maths Pathway’s founders met with Capital Collaboration to raise funds and grow the business. With the help of Capital Collaboration, Maths Pathway secured an initial $100,000 from Foresters Community Finance (who was allocated funds under the Social Enterprise Development and Investment Fund program). In March 2015, Maths Pathway applied and was successful in receiving a grant from the NAB Impact Investment Readiness Fund. Since receiving the grant and lead by Capital Collaboration, Maths Pathway has gone on to raise an additional $700,000 in funding, including $500,000 from private investors and an additional $200,000 from Foresters Community Finance.
As at 19 October 2015, Maths Pathway’s learning model has impacted 912 teachers, 22,158 students and 109 schools. Maths Pathway’s learning model also helps students increase their learning 2 to 3 times compared to a ‘one size fits all’ model of teaching. Additionally, Maths Pathway tracks the growth rate of students over time and is currently averaging 1.15 or 115%. This means students are learning and progressing with 1.15 years of content for every one year that they are involved with the learning model. ‘Champion’ schools that have undergone the new training model that Maths Pathway has introduced are averaging close to 2.0 years of learning per year. Maths Pathway have also set a target to increase a student’s growth rate compared to their previous year’s growth and have commencing measuring this metric.
Undisclosed, however, the expectation is that investors will receive a commercial rate of return.