Everydae

Mobile App Targeting the $70 Billion Tutoring Market

Company Information

Website:

https://www.everydae.com/

Sector:

Education & Training Software

Location:

Culver City, CA

Everydae has developed a digital tutoring platform.

It calls it a “digital tutor in your pocket.” It’s a mobile app that helps students learn through interactive lessons. This platform tracks a student’s progress in real-time and adapts to them, giving them help where they need it most.

Everydae’s app was built by academic and big-data experts from Harvard, MIT, and Duke University. Its team has more than 20,000 hours of tutor training and curriculum development. And several members previously grew an educational technology startup that became the world’s largest privately-owned test prep company. This company was acquired in January 2019.

The team created Everydae to be an affordable learning resource for students. That’s because only 15% of U.S. families can afford tutoring services. And when you consider the average cost for these services, it’s easy to see why. Consider:

• Online study courses typically range from $70 to $500.

• Instructor-led SAT prep courses can cost between $1,000 and $1,600.

• And the average cost for an SAT tutor is $70 per hour. At 5 hours per week for 12 weeks, that tutor would cost more than $4,000.

Everydae, in contrast, helps students learn through a $39 monthly subscription.

Not only is this platform affordable, but it’s also effective. Early users of the company’s “beta” platform have achieved higher test scores and done better in school.

According to the company, the key is focusing on each student’s “learning genome.” This consists of their unique set of academic performance data, demographic details, and interests/goals.

With this information, Everydae can predict how likely they are to succeed in a given subject. It can also identify any learning “blindspots” and create targeted interventions. It can also help guide students toward college or career paths that may best suit their interests and aptitudes.

To collect this data, Everydae has its users complete bite-sized interactive learning modules, or what the company calls “micro active engagements.” Each lesson can be completed in 10 minutes or less, and each one requires students to learn by doing, not watching or memorizing. According to Everydae, “Each lesson feels like a game, not a chore.”

As students complete these modules, they learn through a concept known as “Spaced Retrieval,” a combination of spaced repetition and retrieval practice. Spaced repetition is the practice of reviewing a subject multiple times with breaks of hours or days in between. And retrieval practice is the idea of studying by testing one’s memory of a process rather than simply re-reading notes.

With Everydae, students practice topics at various intervals based on their comfort level with a given subject. Topics that are newer or harder are reviewed more often. Older and easier topics are reviewed less often. Rather than have users re-watch videos or re-read lecture notes, Everydae requires them to apply their knowledge.

Notably, these teaching techniques are used by other educational technology platforms, including a mobile app called Duolingo. Duolingo helps users learn a foreign language. And just like Everydae, it delivers content in mini lessons and enables users to absorb information, not just review it.

As of 2019, Duolingo had been downloaded by more than 300 million people worldwide. And its revenues were around $100 million. It also raised money at a $1.5 billion valuation. Everydae could one day achieve a similar valuation.

Everydae is targeting the $70 billion U.S. tutoring market. This market consists of 76 million K-12 and college students.

Initially, the company is targeting the 34 million students in this market that come from homes with household incomes of less than $70,000. Within this demographic, Everydae will first focus on high school students. There are 15.3 million high school students in the U.S., yet more than 13 million lack access to affordable tutoring and supplemental education.

Everydae completed an equity crowdfunding round approximately one year ago. Since then, it’s continued to grow.

Its monthly recurring revenue increased each month in 2020, despite a dip in the market for SAT prep courses due to Covid-19.

Furthermore, the company created a learning management system that accelerated its plans for custom courses available through its app. It also brokered a white-label partnership with a job-ready skills provider that sells to academic institutions. Everydae expects to earn a share of revenue from this partnership starting in 2021.

Team Background

Chad Troutwine - Chairman

Chad is a serial entrepreneur with extensive experience in the education industry.

Before Everydae, he co-founded Codesmith Engineering, a company teaching programming and machine learning skills to college students.

Prior to that, he spent 17 years as co-founder and CEO of Veritas Prep, the world’s largest privately-owned test prep company. In January 2019, Veritas was acquired by Varsity Tutors.

Chad earned a Bachelor’s degree from Arizona State University, a Law degree from the University of Missouri, an MBA from Yale, and a Master’s degree from Harvard.

Christine Outram - CEO

Christine was Chief Product Officer of Veritas Prep.

While with Veritas, she designed and built ORION, an interactive study tool for students practicing for the GMAT standardized test.

Prior to that, she was Head of Product Design for DogVacay, a booking platform for pet sitters. This company was acquired by Rover, a larger competitor in the industry.

Christine spent three years as Invention Director for Deutsch, a marketing company, where she created applications and products for Fortune 500 brands. These included the “College Styler,” a dorm-room design tool used by Target.

Earlier in her career, she was a product design lead at the Senseable City Lab, a program affiliated with MIT. She led the design and development of The Copenhagen Wheel, an award-winning electric bike.

Christine earned a Master’s degree in Computation from MIT.

Laura Hubbard - Director of Academics

Prior to Everydae, Laura was Director of Academics for Veritas Prep, where she developed educational content for ORION, the study tool for college students.

Before that, she was Director of Curriculum Development with AJ Tutoring, a tutoring services company. She also worked as a tutoring manager for The Princeton Review, and was a subject matter expert for Chegg.

She earned a Bachelor’s degree from Duke University.

Ravi Sreeerama - Partnerships and Business Development

Ravi has helped more than 4,000 students prepare for standardized tests, and is regarded as one of the highest-rated GMAT instructors in the world.

Before joining Everydae, he spent 12 years as a course instructor with Veritas Prep.

He earned a Bachelor’s degree in Business Administration from UC Berkeley, an MBA from UCLA, and a Law degree from the University of Southern California.

Marc Feder - Director of Operations

Marc has a background in copywriting, business development, and product management.

After spending time as a copywriter early in his career, he joined Veritas Prep as a senior sales manager, and earned “Salesman of the Year” honors four straight years. In 2015, he was responsible for more than 25% of the company’s gross revenues.

He then became Director of User Experience of the company’s ORION study tool, and was Director of Business Development for Dogtown Media, a mobile app developer.

Marc earned a Bachelor’s degree from the University of Texas.