Shaw Academy Secures €7,000,000+ Investment and Successfully Exits Examinership

Shaw Academy Secures €7,000,000+ Investment and Successfully Exits Examinership

PR Newswire

DUBLIN, April 1, 2019

DUBLIN, April 1, 2019 /PRNewswire/ -- Shaw Academy, the personalised online educational platform, has successfully exited Examinership after a Scheme was this week approved in the High Court. The successful Scheme was backed by a consortium of successful education, media and technology entrepreneurs. The Company, which develops accredited online courses such as photography, nutrition, marketing and technology, has taught almost five million students world-wide by creating affordable and engaging content. Uniquely students attending the Company's online courses are able to ask questions and these are addressed predominantly by its in-house developed AI driven chatbot with high ratings for its responses.

The Approved Scheme, which has the full support of Shaw Academy's directors and management team, is the result of a competitive process where a number of firm bids were received for the business both domestically and from abroad.

The consortium comprises:

KPMG Corporate Finance advised the Company throughout the process.

John Cadell of Folens and Sean Tai will join Shaw Academy's Board, which includes James Egan (Founder and CEO) and Stephen Murphy (Chairperson). Speaking on the €7,000,000 investment, James Egan said:

"We are delighted to have successfully exited Examinership and significantly strengthened Shaw Academy with this investment. Each of the experienced investors' contributions is an endorsement of our potential and objective of providing higher education at lower cost to a global audience. The demand for higher education at lower cost has never been greater and Shaw Academy has only just begun to scratch the surface. The company now has ample capital to grow and innovate, world class investors and a highly focused management team. We are very excited about what the future holds for Shaw Academy."

John Cadell of Folens said:

"We are excited to be supporting this investment in Shaw Academy. Folens has a history of supporting Irish education technology entrepreneurs and we have known the team for some time. We continue to be impressed by what the team have delivered and the business model. Education services is a large part of any economy and has seen little automation compared to other industries. We feel confident the business is well placed to address that."

For further information please contact John White, Chief Strategy Officer at Shaw Academy at john.white@shawacademy.com

 

 

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