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Business Models Business Operations

How Does Remind Make Money (Business and Revenue Model)

The Remind business model

Remind logo
Here’s what you should know:
  • What is Remind, and how does Remind work?
  • How does Remind make money?
  • Remind Hub
  • Remind Tutoring
  • Remind profit and revenue
  • What is the Remind business and revenue model?
  • Remind funding, net worth, and valuation
  • Remind subsidiaries, acquisitions, and exits

How does Remind make money and how is it free to use? Well, here is a full, in depth, breakdown of their two (2) revenue streams and the different products and services they offer, as well as the Remind business and revenue model, how much money Remind makes per year, and how Remind works.

What is Remind, and how does Remind work?

Remind is a messaging platform available in 86+ languages that helps connect parents, students, teachers, and administrators in K–12 schools to communicate more easily.

Founded in 2011 by Brett Kopf and David Kopf, Remind now has more than 30 million monthly active users and is used by 80% of all U.S. schools to connect students, teachers, and families.

So, how does Remind work? To set up using Remind as a teacher, you can simply download their app from the Apple App Store or Google Play store, or visit their website and create an account.

Once an account is created, link to your school to help you find others using Remind at your school (it also makes it easier for students to find and join your classes) and start creating classes for each group you have.

After you’ve done these things, all that’s left to do is to start adding people to your class(es) and begin messaging.

Some of Remind’s competitors include ClassDojo and other educational services for parents, students, and teachers to communicate.

Remind App in Apple App Store | Remind Business Model | How Does Remind Make Money? | How Does Remind Work?
Source: Apple App Store | Remind

How does Remind make money?

According to Remind, Remind has more than 30 million monthly active users and is used by 80% of all U.S. schools.

So how does Remind make money off of all these users and schools?

Below is a breakdown of how much money Remind makes and its revenue model. Including all revenue streams and how much they charge for their services.

Here are the 2 ways how Remind makes money in 2022

Remind has a revenue model that makes money in two (2) ways; by partnering with schools, districts, and organizations through Remind Hub and from their tutoring services (Remind Tutoring).

#1. Remind Hub

Remind makes most of its money from the communication infrastructure they offer to schools, districts, and organizations called Remind Hub.

While Remind (Chat) is free to use for teachers and students to communicate in smaller group settings (10 classes up to 150 participants per class) like classes, groups, or teams. Remind Hub offers a paid solution for larger setups like schools, districts, and organizations which offers three (3) paid tiers to choose from; Essentials, Plus, and Premium.

All of these allow 100 classes per account up to 5,000 participants per class. Furthermore, each tier comes with additional features depending on the tier to fit the school’s needs – like voice calls, rostering, automatic language translation, sending urgent messages in emergency situations, and more.

Remind does not disclose how much Remind Hub costs on its website as we’re sure pricing differs based on the size of an institution. But third party reporting suggests that schools have been quoted as much as $15,000+ for a yearly subscription to the Hub service.

Remind Hub | Remind Business Model | How Does Remind Make Money? | How Does Remind Work?
Source: Remind

Note: 80% of all U.S. schools use Remind.

#2. Remind Tutoring

Remind also makes money from the tutoring services they offer to students called Remind Tutoring.

This service connects certified math, science, and english teachers and tutors with students who seek tutoring online. The way it works is, once a parent or guardian of the student tells Remind what their child needs help with and reserves a weekly time slot for when the tutoring sessions will take place.

Remind will then partner them with a tutor equipped with the skills and experience in the area where each session will last for ~40 minutes. Which you can see the pricing for below.

How much does Remind Tutoring cost?

  • $40 per tutoring session

Remind profit and revenue

Remind has not released any official reports in regard to company earnings.

Note: Because Remind is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.

What is the Remind business and revenue model?

Remind makes money through a few revenue models that they combine within their company, they are:

  • Subscription business model
  • Transaction based business model
  • Business to business (B2B) business model
  • B2B2C (partnerships) business model

Remind funding, net worth, and valuation

Remind’s Crunchbase profile shows Remind has raised $59.5 million over 7 rounds and has a post-money valuation of $100 million to $500 million as of September 30, 2014.

Remind subsidiaries, acquisitions, and exits

To date, Remind has not made any acquisitions, investments, or exits.