Recent ASX debutant OpenLearning (ASX: OLL) is poised to provide digital learning to thousands of high school students amid the COVID-19 outbreak via an agreement with global not-for-profit entity High Resolves.
High Resolves delivers learning about social inclusion, identity, and social justice to more than 350,000 students in schools across Australia, the US, Canada, Mexico and Brazil.
Under the deal, High Resolves plans to deliver its readjusted learning programs via OpenLearning’s portal within six weeks.
Once launched, the courses will be tailored to meet the requirements of each school.
OpenLearning will set up a portal for each school and provide 10 days’ training and support to High Resolves so that it can take advantage of OpenLearning’s unique functionality.
Regarding the initial deal with High Resolves, OpenLearning will receive a SaaS fee ranging from $50,000 (15,000 students) to $90,000 (30,000-plus students), depending on usage.
It is expected the portals will be available to each school for a year at no additional costs. However, if schools continue with OpenLearning after the year is up, they will pay SaaS fee to continue using the portal.
“We are very excited to sign this agreement with High Resolves and look forward to working closely with them in the years to come,” OpenLearning chief executive officer and managing director Adam Brimo said.
“As schools, colleges, and universities are disrupted worldwide due to COVID-19, moving education online is a logical step; however, we must not compromise quality in the process.”
“This partnership demonstrates that it is possible to transform a face-to-face experience into a highly engaging and effective online experience, quickly and cost effectively, setting the benchmark for online education and providing a model for OpenLearning’s targeted expansion in the K12 sector,” Mr Brimo added.
The agreement also enables High Resolves to act as a reseller of OpenLearning’s platform to its partner schools.
As part of this, High Resolves’ sales force will promote the retention of schools interested in digital or hybrid experiences next year and their conversion into a paying SaaS customer from 2021, for approximately 30% of the estimated SaaS fee of around $3,000 per school.
According to OpenLearning, the reseller agreement has the potential to reach up to 1,000 schools.
OpenLearning noted High Resolves was backed by the Australian Government’s Department of Social Services, which handed over a $6 million grant to facilitate High Resolves’ national reach.
Several large US philanthropic organisations including the Chan Zuckerberg initiative and Imaginable Futures also support High Resolves.
The entity has also attained several awards including Good Design Australia Patron’s award and Aspen Institute’s John P McNulty prize.
Additionally, High Resolves co-founder and chief executive officer Mehrdad Baghai was named Schwab Foundation’s Social Entrepreneur of the Year.