DECEMBER 15, 2021

Published in the Australian Financial Review

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There wasn’t much investor education needed for this one.

Online teaching and learning platform Atomi has raised $9 million, in a round led by OIF Ventures.

Atomi co-founders Rob Barakat and Tom O’Donahoo have closed a $9 million funding round. 

A rival to KKR’s Education Perfect, Atomi’s platform is used by thousands of students and teachers across Australia and the UK, providing video lessons, interactive quizzes and artificial intelligence-powered revision tools.

It has built-in analytics, which help teachers provide personalised learning experiences for students, pinpoint areas of improvement and identify which students are struggling.

OIF doubled down on an earlier investment in the company, taking out most of the raise. It also had some participation from angel investors.

The company is understood to be approaching $10 million revenue.

Thanks to the shift to remote learning in COVID-19, Atomi doubled the number of schools using its platform.

Schools such as Stuartholme in Queensland, St Mark’s Catholic College in NSW and All Saints’ College in Western Australia are Atomi customers.

Co-founded by Rob Barakat and Tom O’Donahoo in 2014, Atomi started with just a handful of ‘how to’ maths videos. Now, there are upwards of 192 courses and 250,000 minutes of content on the platform.

O’Donahoo said its software introduced flexibility to classrooms, enabling students to catch up on lessons at home.

“Although we’re seeing a return to in-person instruction, every student and teacher now has first-hand experience of the benefits the technology-enabled classroom can bring,” he said.