Screencastify CTO Paul Ray, CEO Vishal Shah and President Alex Stepien
Sometimes it takes a crisis to bring about change. For years, Edtech start-ups and scale-ups have tried to convince educators that new technologies can enhance traditional teaching methods. But it wasn’t until the Covid-19 crisis closed schools around the world that the profession really began to embrace these new tools.
This experience is transformative and irreversible. According to a study published by GlobalData, the education technology market is expected to grow at a CAGR of 16% from 2021 to 2026. Distance learning, delivered via Massive Open Online Courses (MOOCs), is just one example of how technology can help teachers meet. Market research analysts report a surge in demand for education.
One business benefiting from this trend is an American video production and editing company. screen castingThe business has focused on the education sector since 2016 when it merged with another startup, LearnCore. Its technology enables teachers to create video content for students that can be viewed anytime, anywhere.
Screencastify’s user numbers grew 340% early in the Covid-19 pandemic, said Vishal Shah, who the company announced today as its new CEO. We found that these users were helping us create 500% more videos each day than before the crisis. Demand has been maintained while the pandemic has eased.
Shah joined Screencastify as part of a deal with LearnCore and has since worked for the company in various capacities, most recently serving as interim president. Today’s senior leadership changes also include the appointment of Paul Ray as Chief Technology Officer and the appointment of Alex Stepien as President and CRO.
“The company is growing,” Shah said of the change. “We’ve grown very quickly over the last few years, catching up with people and processes.” he says.
Like other edtech companies, Screencastify believes the pandemic has changed the tech landscape in this sector forever. While no one wants to return to a world where children learn remotely through online lessons, many student experiences with innovations such as video lessons have proven to be very positive.
“The concept of flipped classrooms has become very important in education,” Shah points out. The idea is that face-to-face class hours are best suited to helping students grow through active learning rather than giving them information for the first time. Screencastify supports that idea. Students can introduce new ideas and principles through video content that they can watch at home at their leisure before coming to class.
It’s a principle that can be applied at all stages of education, from early childhood learning, but also when people move into the world of work and need training or reskilling. “Students can always review lessons and bring ideas and questions back to class,” says Shah.
However, this approach only works if teachers and other educators can create compelling video content in the first place. That’s where we believe Screencastify is well positioned to help. “Educators use our platform because it’s so simple and easy,” claims Shah. “Not everyone feels comfortable making videos, especially for the first time, so our role is to reduce the percentage of people who feel that way as much as possible.”
In the US, 70% of school districts already use some form of Screencastify’s video creation and editing tools, but the company also has a huge international platform, with users in nearly 200 countries around the world using its technology. I’m using to make a video. The company offers a free model but charges a license fee for users who want to create more videos or longer content.
Today’s announcement marks the beginning of a new phase of growth for the company, argues Shah. “We plan to double down on education, but we also see opportunities to expand into new areas,” he says. While its expansion has begun, especially with more companies working on digital learning and employee training, Screencastify is poised to tap into markets like gaming and social media where creators produce tons of videos. are also paying attention.
It’s definitely a growing market. The global video editing software market was worth about $1.95 billion in 2021, but according to Straits Research, he expects this figure to reach $3.2 billion by 2030. This is close to an average annual growth rate of 6%.
“The acceptance and pervasiveness of hybrid learning and the increasing use of video in the classroom and the use of different training and education in the workplace means the future is very exciting,” adds Shah.
His challenge is to enable Screencastify to compete in this new world. Notably, prominent competitors active in this space include Apple and Adobe. The fact that Screencastify is integrated into Google’s education platform helps in this regard, but Shah believes the tool’s simplicity and easy-to-use interface are key differentiators. He claims that teachers and others want an easy tool above all else, so Screencastify focuses on just that.
“In the new era of remote working and living, there is an opportunity to make video communication simpler and improve people-to-people interactions,” adds Shah. Especially in the social life of young people. ”
