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BibliU’s $10 million Series-A funding round

We are delighted to have provided due diligence services for BibliU’s $10 million Series-A funding round from Nesta Impact Investments, Oxford Sciences, Guinness Asset Management and Stonehage Fleming.

Last updated: 31 March 2020

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BibliU works with more than 2,000 education publishers to aid students' ability to access learning material using online platforms, counting Oxford University and Imperial College London among their customers. BibliU also  created Europe's largest digital education content programme through a partnership with Coventry University.

"BibliU is proud to be an innovator for higher education, building an accessible solution for modern students - ensuring that amidst a growing necessity for remote education - textbooks and research materials are accessible to every student." Dave Sherwood, Chief Executive.

How we helped

Our corporate finance team’s financial due diligence services provided the investors with the information they required in order to make an informed decision as to whether they would invest in BibliU. This included key insights relating to the financial model, application of scenarios and presenting the investors with the best, base and worst-case results. This gave the investors an understanding of how each result could affect BibliU and the potential outcomes of their investment. We also carried out a detailed tax review, including R&D tax credits, VAT and share options. Our tax recommendations have been implemented by BibliU, which will strengthen the robustness of the business in the future.

Challenges overcome

Bibliu operates in the Education Tech (EdTech) sector, which has shown considerable growth in recent years. It has recently become even more important in the economy as a whole, with the advent of schools and universities teaching and lecturing their students remotely. BibliU forecast that teaching in the future will change to the use of exercise books online becoming the norm. This opportunity allowed the transaction to complete in the unforeseen and difficult circumstances that COVID-19 presented. The success of this transaction is evidence that deals can still complete during this pandemic and we commend all parties for being able to complete the transaction while COVID-19 was affecting people and institutions across the world. 

Next steps for BibliU

Now the deal is complete, BibliU are focussing on growing the amount of schools, colleges and universities that use their service and plan to scale-out their Coventry model.

For more information on our due diligence services, or for advice tailored to your situation, please get in touch.

About the author

Alex Judd

+44 (0)20 7556 1457
judda@buzzacott.co.uk
LinkedIn

For more information on our due diligence services, or for advice tailored to your situation, please get in touch.

Click here for our recent transactions.

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