Learnt

Online AI-powered tutoring platform

Learnt

Online AI-powered tutoring platform

Galveston, TX
Education
Technology
Learnt is a user friendly, instant tutoring education platform. Learnt democratizes tutoring through an interactive and instant virtual learning environment powered by a platform that supports students at all steps of learning.

$58,000

raised
65
Investors
$9M
Valuation Cap
5.0%
Annual Interest Rate
$500.00
Min. Investment
20.0%
Discount Rate
Conv. Note
Offering Type
07/01/22
Maturity Date
Reg CF
Offering

$58,000

raised
65
Investors
$9M
Valuation Cap
5.0%
Annual Interest Rate
$500.00
Min. Investment
20.0%
Discount Rate
Conv. Note
Offering Type
07/01/22
Maturity Date
Reg CF
Offering

Bonus Rewards

Get rewarded for investing more into Learnt

$500+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1 Perk
Free 30 minutes of tutoring for investors or their child (not to exceed $50/hr)
$1,000+
Investment
Tier 2 Perk
Free 1 hour of tutoring for investors or their child (not to exceed $50/hr)
$5,000+
Investment
Tier 3 Perk
Free 5 hours of tutoring for investors or their child (not to exceed $50/hr)
$10,000+
Investment
Tier 4 Perk
Free 10 hours of tutoring for investors or their child (not to exceed $50/hr)
$25,000+
Investment
Tier 5 Perk
Free 30 hours of tutoring for investors or their child (not to exceed $50/hr)

Reasons to Invest

Learnt is the founders' second chapter in the online education space. Tutor the People, a wholly-owned subsidiary of Learnt, has generated over $1M dollars in revenue since inception and averaged 169% YOY growth over the last two years.
Due to the worldwide pandemic, colleges and universities as well as primary and secondary schools have made an enormous shift toward online and virtual learning.
The total market size of the K-12 tutoring market worldwide is growing at a CAGR of 12.75% and is projected to reach a total market value of $121 Billion + by 2021.

“Google democratized information, Apple democratized computer technology, Ebay democratized e-commerce, Learnt is democratizing education.”

our story


Learnt founders Eliza and Andrew Nimmich have a history in Edtech. Through Learnt’s subsidiary, Tutor the People, they have matched thousands of students with the best tutors in the industry.

App showing is tutorthepeople.com and has been operational and open to the public since 2013


The tutoring team has helped students raise their scores on standardized tests, many increasing 50 percentile points or more.


But when students would come to Tutor the People the night before a major exam needing a tutor ASAP, they couldn’t match them. “It was heartbreaking to talk to these students late at night in a panic and have to tell them, ‘Sorry, I can’t help you’” says Learnt’s Co-founder, Eliza Nimmich, “It was clear that we had the right methods to help our students. However, we lacked the technology stack to address students’ desires both for self service and instant access to highly qualified tutors.”


Thus, the team created Learnt, a tutoring platform that allows students to meet with a vetted tutor, instantly, utilizing an AI-powered algorithm that facilitates an effective match.


The team designed the platform with the future of education technology in mind, as Learnt’s core software can be easily packaged and adapted to address a number of B2B and B2C ed-tech markets in the post COVID-19 world.

The Problem


A fragmented, impersonal market for educational assistance

Few if any companies look at learning as a psycho-social relationship. Every student is different, with their own individual learning styles and understandings of the world. Fueled by smart technology, Learnt aims to provide students with the educators and mentors they need to become who they want in life  (source).

Finding the right tutor can be a challenge, and many students jump from company to company, tutor to tutor, trying to find the right match throughout their journey as a student. They might turn to one company for their SAT prep, one company for their Mandarin tutoring, and then another company for their GRE prep. There are so many resources out there that treat only a specific segment of the market. 

Learnt provides an integrated solution for the ever-evolving student. Students can start out with reading help in kindergarten, continue with the company as they go into college and start to explore the professional world. Learnt is there to help at all steps of the learning journey.

The Solution


An accessible platform that defragments online learning

Learnt’s software platform allows instant access to tutors. Students can find vetted and verified tutors through a system that involves background checks, video-recorded interviews, and careful subject verification. This gives users peace of mind, understanding that if you study with Learnt, your bases are covered. Learners can meet in real time through a state of the art, interactive virtual classroom.

App is in beta testing stage


The platform, currently in its private Beta testing stage, is built to scale quickly, with features supporting the existing exam preparation business model and new B2B and B2C markets. The platform’s core application can be altered to accommodate almost any functionality in the e-learning market (i.e. online courses created by tutors, independent study programs, group study sessions, etc.).

App is in beta testing stage


Learnt pays close attention to the student’s online experience, considering all steps in a user’s learning journey.

The Market


Education is a $6 Trillion industry growing up to $8 Trillion by 2025

The total market size of the K-12 tutoring market worldwide is growing at a CAGR of 12.75% and is projected to reach a total market value of $121 Billion + by 2021 (Source). The test prep market alone is projected to be worth $32 Billion + by 2021.

In light of recent events involving the COVID-19 pandemic, students are meeting and learning increasingly online, allowing industry leaders with a robust technology portfolio to further capitalize on the continued explosive growth of the market.


With Learnt’s estimated software launch next month, we believe we are perfectly positioned to fill this vacuum in learning and to help create positive educational outcomes for learners across the globe.

Our Traction


Learnt’s test prep subsidiary services have already generated over $1 million in revenue

Learnt’s test prep subsidiary has bootstrapped to over 1.0 million dollars in revenue with a 169% YOY growth rate averaged over the last two years (2018, 2019), without requiring outside funding. The company has re-invested much of its gross margin into developing the Learnt platform software.

*Revenue from Tutor the People, formed in 2013. Learnt was formed as the parent company to Tutor the People in 2020.

We launched Learnt for private beta on June 22, 2020 and we are an estimated one month away from complete platform release. We currently have over 1,000 sign-ups prior to launch, without any marketing. This early traction will build upon our established network of over 2,000 students we have worked with via our test prep division, and roughly 700 tutors and students via our acquisition of truetutor.co.

App is in beta testing stage


The tutoring team has helped students raise their scores on standardized tests, many increasing 50 percentile points or more. Here is a video from one of our students, Ashley, our former student who liked our experience so much she became our tutor!

What We Do


Instant access to customizable and affordable tutoring and test preparation

Learnt’s software enables students to match with tutors according to their learning preferences, criteria, and deadlines, budget, location, and availability preferences. The software allows students to connect instantly in a virtual classroom, or to book future sessions for in person meetings. The software is preparing for launch in the next month. The below .gif image is a screen recording of the actual application being used by a user, it is not a prototype.

video

The Business Model


Test prep packages, a tutoring platform, and business-to-business sales

  • Tutor the People (test prep): We sell test preparation in bulk hourly packages. We pay tutors an hourly rate. We typically keep a 40-50% profit margin with these packages.

SourceSource


  • Learnt Software (tutoring marketplace): For our software platform, we charge a 30% commission on all transactions that take place on the platform. This software is currently in private beta and we expect to launch in the summer of 2020.
  • Corporate Education: We charge a subscription fee, depending on the time frame and the number of employees who will be working with a tutor. Packages are estimated to range in the tens of thousands of dollars.

The Vision


To become a leader in educational technology

Our goal is to provide a comprehensive tutoring solution to a fragmented industry and become the leader in supplemental education. Learnt aims to present learners with a go-to place for learning both in person and online.


Our Team


We understand the challenges students face and we can help


We are family founded and run by Eliza and Andrew Nimmich, a wife and husband team who have a combined 22 years experience working in the education technology industry. Our executive team includes founders of several successful companies and a marketing executive who helped TikTok achieve nearly 1,000 app installs per day. Our board member advisors were partners in the first secondary fund in Utah which invested $25 million in 26 companies. 


Fueled by the exceptional intellectual capital of our tutors, we've been lucky to work with several informal advisors throughout the years who support and guide us.


Andrew, our company’s CEO, is a Medical Doctor and vascular surgeon in training, and co-founder of Learnt and Tutor the People. Eliza, our COO, is a growth marketing executive with 8 years experience in tutoring and Ed-tech. She co-founded Learnt and Tutor the People, which have helped thousands of students raise their scores and gain scholarships.

Why Invest


Annual growth and already cash flow positive. Be a part of the growth of young minds

Our efforts are supported by being in the expanding market of education and education technology. At this rate, our goal is to continue to grow our reach, allowing students worldwide to expand their intellectual capabilities and reach new heights in their careers and education!

In the Press

Business Insider
January 1, 2017

6 online test prep platforms that can help you get the score you want on the GRE, GMAT, LSAT, and MCAT

Offering Summary


Company

:

Learnt Corporation

Corporate Address

:

3111 Avenue R., Galveston, TX 77550

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$500.00











Terms


Offering Type

:

Convertible Promissory Notes

Type of Equity Converted Into

:

Class A Common Stock

Conversion Trigger

:

$1,000,000.00

Maturity Date

:

July 01, 2022

Valuation Cap

:

$9,000,000.00

Discount Rate

:

20.0%

Annual Interest Rate

:

5.0%
















What is a Convertible Note?

A convertible note offers you the right to receive Class A Common Stock in Learnt Corporation. The amount of Class A Common Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $1,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $9,000,000.00  Valuation Cap or if less, then you will receive a 20.0% discount on the price the new investors are paying.  You also receive 5.0% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Class A Common Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).



*Annual Interest Rate subject to adjustment of 10% bonus for StartEngine shareholders. See 10% Bonus below

Investment Incentives and Bonuses*

All Investor Owners Club

Tier 1 Perk: Free 30 minutes of tutoring for investors or their child (not to exceed $50/hr)

Tier 2 Perk: Free 1 hour of tutoring for investors or their child (not to exceed $50/hr)

Tier 3 Perk: Free 5 hours of tutoring for investors or their child (not to exceed $50/hr)

Tier 4 Perk: Free 10 hours of tutoring for investors or their child (not to exceed $50/hr)

Tier 5 Perk: Free 30 hours of tutoring for investors or their child (not to exceed $50/hr)

Early access to products

Investors receive early beta launch invitations to all software product launches

Early Bird

First 72 hours - Friends and Family | 15% bonus on the Convertible Note interest rate

Next 72 hours - Super Early Bird | 10% bonus on the Convertible Note interest rate

Next 7 days - Early Bird Bonus | 5% bonus on the Convertible Note interest rate

Volume

$500+ (Tier 1 perk)

$1,000 (Tier 2 perk)

$5,000+ (Tier 3+ 2% bonus on the Convertible Note interest rate)

$10,000+ (Tier 4 + 5% bonus on the Convertible Note interest rate)

$25,000+ (Tier 5 + 10% bonus on the Convertible Note interest rate)

The 10% Bonus for StartEngine Shareholders

Learnt Corporation will offer 10% additional bonus interest for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

Eligible StartEngine shareholders will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering. This means your annual interest rate will be 5.5% instead of 5%.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

*All perks occur when the offering is completed.

Irregular Use of Proceeds

We will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$9,647.00 USD
$4,525.00 USD
Cash And Cash Equivalents
$9,547.00 USD
$3,994.00 USD
Accounts Receivable
$100.00 USD
$531.00 USD
Short Term Debt
$62,939.00 USD
$63,930.00 USD
Long Term Debt
$13,332.00 USD
$0.00 USD
Revenues And Sales
$456,891.00 USD
$287,353.00 USD
Costs Of Goods Sold
$232,131.00 USD
$147,098.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
$27,929.00 USD
-$3,818.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Notice of Funds Disbursement

9 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Learnt has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Learnt be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

The COVID-19 Ed Tech Boom is Here!

12 days ago

"Even before COVID-19, there was already high growth and adoption in education technology, with global edtech investments reaching US$18.66 billion in 2019 and the overall market for online education projected to reach $350 Billion by 2025. Whether it is language apps, virtual tutoring, video conferencing tools, or online learning software, there has been a significant surge in usage since COVID-19." 

Source: https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/ 


Learnt is a platform built to scale with a diversity of applications that address the demand for online education in a world where our children are adapting to learning outside of the classroom. Don't miss your chance to be a part of the massive shift to online education!


Notice of Funds Disbursement

26 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Learnt has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Learnt be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Notice of Material Change in Offering

about 1 month ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Learnt offering. Here's an excerpt describing the specifics of the change:


Learnt provided their reviewed financials and updated their maximum funding goal.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Maximum funding goal increased to $1.07M!

about 1 month ago

Hi everyone!

Thank you for your interest and/or investment in Learnt! Just wanted to let all of our followers know that we increased our maximum funding goal to $1.07M after completing our independent CPA financial review. For those who haven’t invested yet, it’s a great time to join us as we disrupt Ed tech to impact the lives of learners worldwide.

Best wishes,

Andrew

One day left to receive the Friends and Family bonus in Learnt. Don’t miss out!

about 1 month ago

Join Learnt as we build our education technology company for a post-pandemic world.  Only 1 day left to receive the friends and family bonus shares with your investment. Parents and schools have been contacting the company requesting help as COVID-19 is forcing mass adoption of online learning on short notice. In this climate, we are poised for a successful software launch with early user growth. Learnt's subsidiary, Tutor the People, bootstrapped to over 1.0 million dollars in revenue with a 169% YOY growth rate averaged over the last two years. The timing couldn't be better. 


Show More Updates End of Updates

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