Amidst the COVID-19 pandemic, the shift to online learning highlighted the importance of maintaining physical activity levels in students. In response, friends Joe Titus and Paul Suhr founded Hiveclass, a New York-based edtech platform that offers online courses in fitness, sports, dance, yoga, nutrition, and mindfulness for K-12 students. The platform has now raised $1.5 million in seed funding, led by Spring Mountain Capital, to further develop its product and expand its reach.
The need for innovative physical education solutions is more pressing than ever. With many students opting out of traditional P.E. classes due to competitive environments and bullying, Hiveclass provides a welcoming and engaging alternative. Moreover, the high cost of youth sports is a significant barrier for many families, making it difficult for students to access these opportunities. Titus, CEO of Hiveclass, expressed his concern about the inequities of sports costs, citing the challenges faced by low-income families in New York City.
Hiveclass's unique approach involves marketing its services to public schools and libraries, rather than offering direct subscriptions to parents. The platform features short-form videos that teach various skills, accompanied by quizzes to ensure student engagement. Educators can access a dedicated portal to track student progress and provide personalized support. Notably, Hiveclass aligns with national standards set by SHAPE America, the Society of Health and Physical Educators organization, which governs physical education in the U.S.
The recent funding will be allocated towards product development, enhancing the teacher portal, and introducing new services for students with special needs. Hiveclass has already partnered with over 80 educational institutions, with over 13,000 students and teachers on the platform. The company has generated more than $2 million in revenue and aims to reach an additional $1 million by next month. Exploring additional revenue streams, including licensing agreements, will also be a key focus.
The edtech platform's success is a testament to the growing demand for innovative solutions in physical education. As students, parents, and educators seek more engaging and accessible ways to promote fitness and wellness, Hiveclass is well-positioned to lead the charge. With its recent funding and strategic partnerships, the company is poised to make a significant impact in the edtech landscape.
In addition to Spring Mountain Capital, other investors in the round included Georgetown Angel Investor Network (GAIN), New York State Venture Fund, Rethink Education, and Techstars. The total capital raised by Hiveclass now exceeds $3 million, underscoring the confidence of investors in the platform's mission and potential.
As the education sector continues to evolve, Hiveclass's innovative approach to physical education is likely to have far-reaching implications. By providing a comprehensive and engaging platform for K-12 students, the company is helping to address the critical need for accessible and inclusive fitness programs. With its sights set on further expansion and development, Hiveclass is an edtech startup to watch in the years to come.