By combining forces, the two startups will leverage StudyBee’s expertise in data-driven educational development and Google Classroom integration with Unikum’s extensive experience in the K-19 perspective and partnerships with over 100 municipalities.

StudyBee was founded by Ian Rattigan and has raised approximately SEK 25 million in equity funding, according to data registered with Bolagsverket. The largest outside investor is Djäkne Startup Studio. For 2023, StudyBee reported net revenue of SEK 2.4 million and a loss of SEK -2.1 million, as reported by Swedish Tech News.

Unikum, founded by Jonas Ryberg who remains the majority owner, has notable outside shareholders including JCE and Philian, Karl-Johan Perssons investment company. In 2023, Unikum reported net revenue of SEK 62.6 million and a break-even result.

Strengthening Educational Tools

The merger will see StudyBee continue to operate with full force, both as a tool and as a team, now bolstered by Unikum’s resources and customer support. This deal is set to provide Swedish schools with an unmatched combination of modern and easy-to-use tools for learning and data-driven development, particularly beneficial for those using Google Classroom or Teams.

With over 100 municipalities and independent school chains already using Unikum and StudyBee, the merger represents a significant step forward in making advanced educational tools accessible to even more students and educators. The combined experience of over one million children and students’ learning journeys underscores the potential impact of this collaboration.

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StudyBee has developed a software that teachers can use together with the free tool Google Classroom. They add the ability to create bespoke attainment descriptors and assess learning against National Curriculum attainment targets. They will make it easier for teachers and students to follow the development and assessment process in the same module.

StudyBee was founded in 2015, and the CEO Ian Rattigan states that Studybee currently has about 50 paying customers from independent schools to smaller municipalities. Now they are aiming to deliver to larger organizations to a greater extent instead of individual schools.

The money invested at this round will be used for further product development, and for going abroad. One of the newest product development is a function that will support newly arrived that are in high school to master Swedish better.

With expansion to markets, the aim is to take the U.S.
CEO Ian Rattigan described their current situation to DiGITAL as following:

“We were much more ready than we thought, so we were already in sales discussions the first day. Therefore, we have pushed our plans to enter the United States forward.”

They have already launched pilot projects at schools in California, but in order to scale it up, more money is needed. Therefore, they plan to have another investment round to be completed before this summer.

“That will be an A-round, so it is considerably larger amount” says Ian Rattigan.

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