Campuswire found itself in a favorable position when the rapid closure of colleges and universities worldwide occurred due to concerns surrounding the coronavirus. Established by Tade Oyerinde in 2018, Campuswire provides a digital solution for educators seeking to manage their classroom communications, encompassing everything from question and answer sessions to the delivery of lectures.

This approach has largely proven successful. Campuswire is currently utilized by over 300 universities and serves a student population of approximately 200,000, as stated by Oyerinde.

Although Campuswire’s initial offering was poised for immediate growth, the company’s founder recognized an emerging challenge: increased competition. As instruction transitioned online, platforms like Zoom, and tools integrated with Zoom, became prevalent. Microsoft Teams and Google Hangouts addressed the needs of classrooms with limited budgets. This competitive landscape posed a threat to Campuswire’s primary revenue model, which involved selling professional licenses for its online classroom software.

Following several months of development, Campuswire has adjusted its monetization strategy and is now introducing live courses led by professors. Rather than simply assisting professors in streamlining internal communications, Campuswire will now facilitate the creation of courses that students can enroll in for a fee, with tuition revenue being shared between the instructor and Campuswire.

These courses will begin with a class on angel investing, taught by Charles Hudson, the founder and general partner of Precursor Ventures. Hudson regularly lectures at Stanford University, and collaborating with Campuswire enables him to reach a wider audience of students.

Concurrently, Campuswire’s core software will be available at no cost beginning in January 2021.

This development signifies Campuswire’s increased focus on synchronous learning. The platform’s design is based on the traditional classroom environment found in universities and colleges. Classes on Campuswire are limited to 500 participants to encourage discussion, and larger lectures are complemented by sessions led by teaching assistants to reinforce complex concepts.

Despite the acknowledged benefits of asynchronous learning – allowing students to learn at their own pace and providing educators with greater scheduling flexibility – Oyerinde believes that pre-recorded formats are not optimal for effective teaching.

“We are firmly committed to this belief,” he explained. “Genuine, enduring learning generally requires a synchronous environment for most individuals.”

He contends that while a select group of highly motivated students can effectively learn from a one-hour lecture, the majority benefit from engagement, interaction, and encouragement to fully grasp a subject. He points to the low completion rates (2-3%) of massive open online courses (MOOCs) as evidence of this.

Essentially, Campuswire has shifted from being a platform competing with Zoom to one aiming to rival MOOCs by providing engaging content delivered by experienced professors. Its key distinction from MOOCs lies in its live format and the availability of teaching assistants.

Several startups are currently exploring similar concepts, offering engaging classes taught by prominent instructors through innovative approaches. MasterClass, which recently secured $100 million in funding, combines entertainment and education, featuring classes from figures like Gordon Ramsay (cooking) and Serena Williams (tennis). While direct interaction with Ramsay or Williams is not possible, students can connect with their classmates.

BookClub connects readers directly with the authors of the books they are reading, providing an opportunity to discuss plot points and character development. The company is still in its early stages, but founder David Blake envisions a future where readers can engage in direct conversations with authors. Teachable, acquired by Hotmart earlier this year, empowers experts to build businesses around their knowledge by creating and offering virtual courses. Arlan Hamilton, a seed-stage investor, hosts a course on the platform.

This strategic shift reflects the founder’s conviction that achieving a billion-dollar valuation in the edtech sector requires offering more than just software that competitors like Google and Microsoft readily provide at no charge.

“The potential of online learning is immense, capable of expanding to 100 times its current size,” Oyerinde stated. “By supporting synchronicity and enabling interaction with professors from institutions like UCLA, Princeton, and Cornell, rather than simply watching pre-recorded videos, we can unlock that potential.”