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Cypher Coders

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Cypher is an EdTech company delivering a creative computer science education online to children aged 6-12

134%
 - 
36 days left
£175,001 target
£235,809 from 141 investors
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Business overview

Location London, United Kingdom
Social media
Website www.cyphercoders.com/
Sectors Content & Information Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10214421
Incorporation date 3 Jun 2016
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Investment summary

Type Equity
Valuation (pre-money) £5.9M
Equity offered 3.85%
Tax relief

EIS

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Business highlights

  • £990k revenue*, subscription model launching in 2021
  • Leading coding school, 15k+ hrs of live online learning last year
  • 250+ 5* reviews, with over 2000+ students taught
  • 56% repeat customers, 50% of new customers referred by a friend
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Key features

  • Secondary Market
  • Seedrs nominee min. £12.60 +
  • Direct investment min. £25,000.00 +
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Idea

Introduction

Cypher inspires children to learn the language of the future - code. Through our transformational creative curriculum, we deliver a Live Online computer science education to children aged 6 -12 in small, teacher-led, creatively themed courses.

Computational thinking is at the heart of coding, providing a foundation for efficient problem-solving. Teaching children the tools to think computationally allows them to break down a real-world problem and work out how to fix it. It’s a skill they can apply to all subjects.

The Cypher curriculum helps children learn to code through:

> Stimulating curiosity and creativity
> Developing 21st century skills - digital, emotional, social
> Embedding a foundation of computational thinking
> Enthralling themes that engage both girls and boys such as conservation, fashion and art
> Using a variety of coding languages such as Scratch, Python, JavaScript
> Nurturing confidence, collaboration, communication and problem solving

Our goal is to get the next generation future ready!

Monetisation strategy

Currently, the Cypher curriculum is delivered through 7.5 hour courses taught with live teachers and in classes with 3 - 8 students. Courses are delivered during holiday times (1 week x 5 days x 90 mins), during term time (10 weeks x 1 day x 45 mins) and on weekends (2 weeks x 2 days x 1h 50m) to be flexible to different schedules.

The Cypher subscription model is launching this year with the aim of increasing repeat business by maximising the repeat buying behaviour of our customers, driving recurring revenue and ensuring we provide value for our customers. The subscription model will consist of 3 tiers starting as low as £37.50 per month.

Current revenue model:
> Average course price: £170
> Average student spend: £333 per year
> Gross Profit per student: 69%. We aim to increase this margin to 75%
> Customer Acquisition Cost (CAC) per student: £47.50
> Potential lifetime value (LTV) per student: £1,165

By introducing our subscription model, we believe we can enhance our customer acquisition and build on our already strong word of mouth referral (50% of new customers are recommended by a friend*), and strong resale rates (56% of students each camp are returning*). This will all be further enabled by our scalable platform which we are continuing to invest in.

*Figures based on customer feedback from Cypher Camps run between April ‘20 - Feb ‘21.

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© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
Valuation rounded from £5,896,472

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