Major investment and a US launch for GroupSpaces

Major investment and a US launch for GroupSpaces

GroupSpaces, the UK's leading website for the online management and administration of university clubs and societies, has secured an investment of $1.3m from Index Ventures and an ‘angel investor consortium', and also opened a New York office to spearhead its expansion into the US market.

Founded in 2007 by two Oxford students - David Langer (a former runner-up in the Real World Awards) and Andy Young - GroupSpaces has since followed a "Facebook-like" expansion model, initially saturating clubs at Oxford and subsequently gaining adoption across the UK's top universities.

The business provides an all-in-one set of free tools designed to meet the full needs of university clubs and societies.  The offering includes a website, professional email templates, online membership database, Facebook integration and event management tools, all making the running of a society much easier.  UK university membership has already grown to over 200,000 students from some 2,000 societies, and GroupSpaces is also working in close partnership with leading networks of societies such as SIFE, Engineers Without Borders and NACUE.

GroupSpaces generates revenue by allowing graduate recruiters to advertise their campus activities and promote opportunities to its highly employable community of students throughout the academic year.  Since 2007 it has worked with many leading graduate employers and recruitment ad agencies.

The new funding is being used to expand technical and marketing resources in the UK and to open a New York office as a base for developing the US market.  Initial signs from the latter have been very encouraging, with over 500 groups signing up in the first month from top institutions such as Harvard, Yale, Princeton, MIT and Stanford.

Co-founder David Langer says "We're delighted we were able to attract such high-profile investors to this funding round and we look forward to leveraging their expertise to help us move forward with our growth strategy and expansion into new geographies, attracting top talent to our team and rapidly rolling out our product roadmap."

Tuesday, 3 August 2010

Share this article

Any questions? Any comments?

Your instant reactions to this article can be posted here.

Be the first to make a comment...