Varsity Tutors Marks Year of Significant Product, Geographic and Headcount Expansion

ST. LOUIS, Dec. 13, 2018 /PRNewswire/ -- Varsity Tutors, the Live Learning Platform that seamlessly connects experts and learners in any subject, anywhere, at any time, is set to close its most ambitious year since its founding in 2007. The company attributes its success to major expansion into more than 1,000 subjects and consumer interest in Online and Instant Tutoring. Just months after announcing the expansion of Instant Tutoring to every middle and high school subject, Varsity Tutors has grown to accommodate more than 230 Instant Tutoring subjects, now covering every academic subject from elementary school to high school and many more.

2018 highlights include:

• Instant Tutoring: Since launching in mid-2017, Instant Tutoring has helped more than 15,000 students. This includes 11,000 students needing on-demand math help, 600 students learning programming languages and 500 students preparing college essays.
• International growth: Varsity Tutors has helped students in 40+ countries around the world—and is continuing the momentum into 2019 by expanding into all English-speaking countries. Spearheading its UK business—including Varsity Tutors' most recent acquisition, First Tutors, the largest European tutoring marketplace—is Amazon alumnus Malte Poppensieker.
• Group classes: In its early efforts with group classes, which provide students with a lower-cost opportunity to learn a subject or prep for a test as a group, Varsity Tutors has received a nearly perfect rating from users (4.9 out of 5). The company plans to expand the class program to dozens of subjects in 2019.
• $50 million Series C: In February, Varsity Tutors raised its latest round of funding, led by Learn Capital, with participation from the Chan Zuckerberg Initiative and existing investor TCV. It brought the company's total funding to $107 million.
• New executive hire: In September, Mike Nathenson joined Varsity Tutors as Chief Financial Officer. Nathenson brings over 20 years of financial experience from major corporations including Blue Buffalo, where he oversaw its Initial Public Offering and growth leading to the eventual $8 billion acquisition by General Mills. In addition to his public company CFO experience, Nathenson brings a deep financial and strategic background in consumer products with significant leadership experience at PepsiCo and Dean Foods.

"It's been a landmark year for Varsity Tutors. The $50 million Series C announcement in February was just the start of the most productive year we have had as a company," said Chuck Cohn, founder and CEO of Varsity Tutors. "Not only are our products continuing to develop and gain widespread adoption, but it's exciting to see our team grow and execute against our vision to seamlessly connect experts and learners in any subject, anywhere, at any time."

Varsity Tutors' technology-forward approach to education has made it easier for learners to access expertise at any time. Instant Tutoring connects students and experts in as little as 15 seconds, making it the perfect solution for homework meltdowns and last-minute test prep.

As Instant Tutoring gains popularity and the company continues to provide exceptional learning experiences to individuals around the world, Varsity Tutors' headcount is growing as it invests heavily in further developing its Live Learning Platform. Between its co-headquarters in St. Louis and Seattle, and offices in Phoenix and Victoria, Varsity Tutors has hired over 200 full-time employees in 2018. The organization currently employs nearly 600 people.

About Varsity Tutors

Varsity Tutors is a Live Learning Platform that seamlessly connects experts and learners in any subject, anywhere, at any time. To date, students have accessed over four million hours of live instruction on the platform. Experts are available to meet in person or through the company's award-winning online and mobile platforms, which account for the majority of all sessions. The company has raised $107 million in funding from investors including TCV, Learn Capital and the Chan Zuckerberg Initiative. Varsity Tutors was founded in 2007 at Washington University in St. Louis. For more information, visit https://www.varsitytutors.com.

SOURCE Varsity Tutors

Related Links

https://www.varsitytutors.com

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