Dev Clever Deploys its Business Continuity Plan and Sees 223% subscription growth
(AIM: DEV ) has announced it has successfully activated and implemented its business continuity plan with all operations functioning ‘largely as normal’ and has already seen a 223% rise in its SaaS based subscriptions for its learning and careers guidance platforms, launchyourcareer.com and VICTAR.
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SaaS-based subscriptions for the Company’s career guidance platforms, Launchyourcareer.com and VICTAR VR (“VICTAR”), has increased over 223% since the end of February 2020. This rapid growth takes the total number of schools using the platform to 191. Management believe this recent increase in demand is a direct result of more schools identifying their immediate remote-based learning requirements.
Furthermore, to support schools in the UK while they are closed, the Company has adapted its third remote learning platform, “Launchpad for Employees”, which was initially designed for companies to remotely upskill existing employees and induct and onboard new recruits into their organisations, into a new tailored e-learning platform for schools and other educational establishments to support their new remote-learning requirements.
Most importantly for investors however, the Company’s launch in the US in partnership with Lenovo, the Worlds #’1 hardware supplier to the Education markets, is still planned for April 2020, despite the disruption cause by COVID-19. Clearly remote learning and careers guidance is of increasing importance to the US, as it will be for the rest of the World, and there is increasing urgency for educational Institutions, training and employers in the US to deploy technologies for learning, training and recruitment such as those offered by Lenovo for their VR Class room 2.
The increased demand for Launchyourcareer.com and VICTAR, as well as the marketing of Launchpad for Employees to educational establishments, is being supported by the company’s enlarged marketing resource following its recent acquisition of Phenix Digital Limited, announced on 10 March 2020.
Since the beginning of 2020, Shares in Dev Clever have increased from 1.15p to 2.75p reflecting the operation progress the Company is making.
Chris Jeffries, CEO of Dev Clever, commented: “Following Government advice during this period of uncertainty, the safety and wellbeing of our employees is paramount. We are pleased that our business continuity plans have been successfully implemented. Our support of educational establishments is driven by well-invested remote learning platforms and technology, and we are delighted that the US launch of our careers guidance platforms is on track. We believe the US is the largest EdTech market globally, and it therefore represents a significant opportunity for the Company.
“In addition, we have been able to widen our support to schools beyond careers guidance and have adapted our employer platform to encompass a broad educational offering. We look forward to continuing to support schools and parents throughout this period.”
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