The ‘EdTech’ transport specialist CoachHire.com has secured multi-million pound funding from Souter Investments, the family investment office of Stagecoach co-founder and Chairman, Sir Brian Souter.
The deal, worth £3.75m, secures investment for CoachHire.com to roll out its suite of apps for drivers, parents and school staff, which are aimed at safeguarding pupils on their way to and from school. The company’s flagship SchoolSafe software uses tracking and travel technology to alert parents when their child boards their school coach and where they are while onboard.
CoachHire.com said the investment will enable it to accelerate the development and rollout of its technology to make the school run safer and smoother, saving parents time and schools money.
CoachHire.com Managing Director and founder, Mathew Hassell, said: “We’re pleased that Souter Investments share our vision and see the potential in CoachHire.com. We’re dedicated to improving the safety, usability and value for money of school transport services and we now have the backing to realise these ambitions for schools across the country.”
Founded in 2011, CoachHire.com provides technology-led passenger transport services, vehicle tracking and passenger safeguarding systems to the education, corporate and leisure sectors nationwide through its SchoolSafe and TripBooker software.
Parents can download a SchoolSafe smartphone app, which allows them to track their child’s vehicle on a map and receive notifications in case of any traffic disruptions and delays. It even alerts them when their child boards and alights their school bus.
CoachHire.com’s education tech packages have led the company’s recent growth, with the business’ annualised revenues exceeding £7m this year. The firm claims it is on track to turn over more than £10m next year and has plans to add over 60 new schools to its customer base and create 50 new jobs in 2018.
John Berthinussen, Investment Director at Souter Investments, said: “CoachHire.com represents an exciting opportunity for Souter Investments to support a fast growing, dynamic and innovative business with a highly entrepreneurial and passionate management team. We look forward to supporting Mathew and his team for the next phase of growth.”
CoachHire.com is also a managed transport service provider for the corporate sector, and an online broker of bus, coach, minibus and other travel and vehicle hire for the leisure sector.
