Educake, a UK-based online assessment and revision platform, has mandated PwC to find a buyer, EducationInvestor Global can reveal.

The company has been marketed at a valuation in the £4.5 million region, according to two sources close to the process. The first round took place about a week ago, attracting the interest of several trade buyers, one of the sources added.

“This is a small business and is unlikely to attract any private equity players. However, it can achieve a good valuation from trade buyers and ed tech platforms eager to expand their scope to the assessment segment, which has proven to be quite successful during the pandemic,” a second source said.

Educake generates annual revenue of around £1m and EBITDA under £500,000, this publication understands.

Founded in 2011 and based in Oxford, the company provides online homework, tests and revision for several KS3 and GCSE subjects.

Its platform is based on a database of about 30,000 specification-mapped questions. Teachers can set tests by choosing a specific area and then selecting the questions to assign to their students. Educake is available for English, science, maths, history, geography and computer science.

Date published: 30 March 2022

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