Edtech Schrole’s online recruitment events platform proving a revenue winner

Schrole’s new SaaS offering Schrole Events has reported first revenue and a full pipeline of 14 events up to April 2022 as schools globally look for a more efficient way to recruit staff.

Rapidly growing edtech specialist, Schrole Group (ASX:SCL) has reported that its first online recruitment event, using its latest SaaS product offering Schrole Events, has proven highly successful, with attendee numbers exceeding expectations, excellent customer feedback and additional revenue.

More than 1700 participants registered for the two-day online recruitment event in late October targeting the Southeast Asian market, with candidates and schools having to upgrade subscriptions to attend.

Schrole Events expands the company’s flagship full SaaS product suite called “Schrole HR” (Human Resources). It now comprises five Human Resources SaaS offerings, including Schrole Connect and Events, Verify, Engage (to be released Q1 2022), Cover, and Develop.

Events enables the Schrole team to create regionalised four-hour online recruitment events for different geographies and customer requirements.

The events are designed to reduce the time and effort schools take in filling their vacancies, providing access to a broad pool of qualified and experienced candidates, with whose profiles they can search, filter and directly communicate.

Schrole has marketed the events as: “Schools spend less time screening candidates and more time making meaningful connections through live chat, interview scheduling and in-app video interviews.”

Schrole Events are targeted at candidates who want to work in a specific region. Schrole targets a high number of relevant and motivated candidates at each event, through extensive marketing campaigns into the lead-up to each event.

Upgrade from Schrole Connect

To participate in Schrole Events, both schools and candidates must be on annual premium level subscription.

Candidates must upgrade from the free Schrole Connect to Premium for US$75. Schools must upgrade from Schrole Connect to Schrole ConnectPlus, the highest subscription tier with base fees from US$9000.

Schrole has a network of 400 schools and 140,000 teachers globally. More than 260 schools, approximately 60% of its Connect school customers, are ConnectPlus subscribers. There are 160 schools on Connect subscriptions being targeted for upgrades to enable them to attend Schrole Events.

Candidate subscriptions have increased during October with 1230 upgrading to premium and US$92,000 received. Events are now major drivers of job listings and applications, making Schrole’s flagship Connect product more effective at delivering teachers into schools.

While being an upsell to ConnectPlus, Schrole Events also provides an opportunity for cross-sales to other Schrole HR SaaS products, such as Schrole Develop and Schrole Verify.

More Events to coincide with school hiring season

Schrole has ~14 events planned through to April 2022 globally including Eastern Americas, Europe, the Middle East, Africa, and Asia, along with events for schools seeking staff focused on the International Baccalaureate curriculum.

The company has reported strong forward registration for the events. It will host its next event on 26 November 2021,covering Europe, the Middle East and Africa, with already 800 candidate registrations.

Schrole has been on a growth trajectory. The company reported a solid performance across a range of value drivers for Q3FY21, including encouraging growth of 28% in September quarter cash receipts to $1.18m. The company has also expanded its direct sales team.

Schrole Managing Director Rob Graham said the positive support for Schrole Events was particularly encouraging.

“Based on our first Schrole Events, I would expect that increased interest will translate to upgraded subscriptions and new customer growth,” Graham said.

“We expect Schrole Events to further connect our Schrole Community networks, enabling greater recruitment activity and deeper engagement with our Schrole HR SaaS platform.”

He said the company was on track to release the final module of its HR SaaS Schrole Engage, which will deepen customer engagement across the full calendar year.

“I am proud of the efforts that our software development, sales and account management teams have put into delivering a best in market solution for international schools.”

This article was developed in collaboration with Schrole Group, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.