Kortext offers university students all their required textbooks digitally
• Location:
United Kingdom
• Founding year:
• Status:
• Business model:
• Stage focus:
• Type of fund:
• Location:
United Kingdom
• Founding year:
• Status:
• Business model:
• Stage focus:
• Type of fund:
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Kortext has built a digital textbook platform which offers higher education and university students access to all the textbooks they need from publishers for their courses
Why DMG Ventures has initially invested?
- Education is a sector in desperate need of digitisation
- Kortext already had a strong UK market presence
- Kortext had early evidence of international scalability
- Strong leadership team; the CEO had built and exited similar business in the US
Performance
- Strong performance since DMG Ventures's initial investment, increasing revenues from £4.9m in 2018, to over £21m in FY23
- DMG Ventures's initial investment was £750k at a £25m pre-money; Kortext is now valued at £145m from their Series B round in 2021, that DMG Ventures led
