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iFunza

An AI-driven System for Better Parent-Teacher Engagement

Kenya
Market: Internet and IT, Information and media, Education, training, Blockchain, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 01.11.2020
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Idea

iFunza parent, teacher and school administrator engagement platform that utilizes artificial intelligence to optimize education outcomes and staff performance management. Our platform is delivered as a web application, a mobile application and a WhatsApp chatbot.

Current Status

We currently have 15 schools on our platform and are growing at a rate of 2 schools per week. We expect this growth to accelerate once schools open in January 2021.

Market

The market education technology (EdTech) is in flux and expected to grow at a compound annual growth rate of 18.1% from 2020 to 2027.

Our focus is on the private K-12 education market. There are currently 78,405 Primary and Secondary schools in Kenya. As we gain traction in Kenya, we intend to expand to neighboring East African countries.

Problem or Opportunity

We have noted the following problems in the education market:
1. Difficulty in tracking student performance
2. No way to track CBC compliance
3. Costly and inefficient distribution of information
4. Tedious & time consuming ways of data management
5. Oversight is a strenous activity
6. Challenge in providing timely access to information

Solution (product or service)

Parents, teachers and school administrators use our system to
1. Increasing parent engagement
2. Improving operating efficiency
3. Improving education outcomes
4. Access to education finance
5. Recruiting quality educators
6. Performance management

Competitors

Our main competitors are:
1. Kytabu
2. Mzizi
3. Google classrooms
4. Microsoft teams

Advantages or differentiators

The advantags are:
1. Network effects
2. Holistic solution
3. Advanced technology

Our key differentiators are that our product:
1. Solves key pain points
2. Is a customized solution
3. We integrated with local government and financial services
4. Our proprietary AI analytics engine

Finance

Our current revenue streams are customers that use the platform. We have a simple and transparent billing of $1 per student per month.

Business model

We currently sell directly to our customers. Our direct sales strategy involves our internal sales team making sales visits for demonstrations. Our current conversion rate is at 40%.

Money will be spent on

Product development and business development. We would like to expand our development team to allow us to implement new features that are on our product roadmap. We would also like to expand our business development teams and adopt a territory management system.

Offer for investor

We are offering 30% of the company for $2 million USD.

Team or Management

Risks

Attacting and retaining the best development talent is one of our risks. Another risk is behavior of our competitors.

Incubation/Acceleration programs accomplishment

We were invited to the Techbridge Accelerator program. We declined to attend.

Won the competition and other awards

We are in the second round of the Seedstars global competition.

Invention/Patent

We are applying for a patent for our system of predicting education outcomes through artificial intelligence and machine learning.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video