A Leamington Spa company that provides music lessons in over 300 schools has secured £100,000 in debt finance from the Midlands Engine Investment Fund II, through its appointed fund manager Frontier Development Capital (FDC).
The funding will enable Totally RAD to develop its new online tuition platform and expand its service to include adult learners at all levels, from beginners to accomplished musicians seeking to hone their skills.
Totally RAD provides face-to-face tuition in schools across the UK through a network of over 200 teachers, covering a range of instruments and vocals. It handles all administration at no cost to schools, provides the instruments and offers free lessons to pupils from low-income families.
The business was founded in 2013 by Christopher Rush, a professional drummer who toured with bands and worked as a session artist for Sony. To supplement his income between gigs, he began offering tuition along with a group of other musicians. The company has expanded rapidly in the past few years after the team started providing music lessons in schools.
Totally RAD is now the largest private music tuition provider in the UK and is on course to double its income from schools in the current financial year to £1.2m. Its online platform, launched in August, will support its service to schools but also allow it to expand its audience by offering one-to-one lessons. The company, which currently employs eight staff, expects to create five new jobs in the year ahead.
“We believe that professional music tuition should be accessible to everyone and are leading the way with our work in schools. The online platform will complement the existing service by enabling pupils to continue lessons during the school holidays or allow those in rural areas to access lessons when there are no local teachers available.
Christopher Rush, founder and CEO
“It will also give others the chance to develop their musical skills cost-effectively and support our professional musicians too by enabling them to continue their teaching work while they are away on tour.”
“The Midlands Engine Investment Fund II has established an excellent track record of supporting growing businesses. It’s great to see that through investment from the Midlands Engine Investment Fund II, Totally RAD can accelerate its growth and expand its reach to various audiences. This investment demonstrates the impact the Fund is having and represents an important contribution to the economic growth of the region.”
David Tindall, Senior Investment Manager at the British Business Bank
“Christopher and the team are passionate about music tuition and have recognised the potential to use remote technology to make it accessible to a wider audience. The funding will enable the company to complete its online platform and transform the music education landscape to meet the needs of students of all ages.”
Marie Kelly, Investment Manager at Frontier Development Capital
The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides debt finance from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
