Academia breaks through £100m revenue barrier

Reseller surpasses long term target set around nine years ago to pass the milestone

Education reseller Academia has achieved its long-term target of surpassing £100m in revenue, the company announced today.

The Hemel Hempstead-based reseller today on LinkedIn said that it achieved the £100m group revenue milestone 13 June.

Mike Bacon, founder and MD of the reseller, said that the company set the target around nine years ago.

Academia's revenues were £85.2m for its last financial year ending 31 May 2021, up 17 per cent on its previous year.

The business sold a 75 per cent stake to former Annodata co-founder Andrew Harman in 2020 via his investment firm Strive Capital. At the time Bacon said the plan was to make multiple acquisitions to help push the business past £100m in revenue.

"We launched £100m as a visionary target about nine years ago and we have referred to it many times over the last 9 years," said Bacon in a statement.

"Despite many challenges and setbacks, it has loomed larger and larger over the last few years and so, it is with great joy and enormous pride that I can share such good news.

"Thanks to everyone at Academia for your hard work, commitment and incredible talent - some of you for a few months but most of you for years and years. Well done to everyone who's been part of the Academia journey and contributed to this fantastic achievement!"