Amsterdam-based Studytube, a customised learning platform for organisations, announced on Thursday that it has acquired Amsterdam’s ‘top-tier’ European training-booking marketplace, Springest.
Besides the acquisition, Studytube also announced that it has raised $30M (approx €26.44M) in its Series B round of funding led by strategic investment firm Energy Impact Partners (EIP) and existing investor Verdane.
Nazo Moosa, Managing Partner at EIP, says, “The European edtech market is crowded with single-point software solutions. Studytube is the first to offer a fully integrated learning platform, consisting of a Learning Management System, a learning experience platform, an integrated authoring tool, and a learning marketplace. This makes Studytube the perfect company to integrate other successful single-point software solutions.”
All-in-one learning platform
Founded in 2013 by Homam Karimi, Gerhard Riphagen, Sebastiaan Menheere, and Stepan Suvorov, Studytube believes it to be vital for organisations to be future-ready.
The company offers an all-in-one learning platform that helps organisations make employee learning and development easy as well as help employees unlock their full potential. Currently, the company offers learning products with courses from over 1,000 providers.
Studytube says that it has raised the Series B round to scale up its product development team and boost business through strategic acquisitions in Europe.
With 180 people working across offices in Amsterdam, Berlin, and Kharkiv (Ukraine), the company aims to expand the team to 300 people and the product team from 60 to 120 people.
What does Springest offer and how will it help Studytube
Springest was founded in 2008 by Ruben Timmerman. It is a comparison website for training programmes and courses. Learning and development (L&D) providers place their learning products on the platform to help users view, compare and find the ideal course, e-learning, coach, or education.
Currently, the platform is active in the Netherlands, Belgium, Germany, the UK, and Sweden.
Springest CEO Ruben Timmerman says, “Springest offers companies and their employees the most comprehensive European training database. By combining our database with Studytube’s online learning and development platform, organisations utilising Springest can search, find and book courses, but also easily organise, manage, and deliver their learning & development in one place. By joining forces we become a complete and future-proof learning partner for our clients.”
The acquisition will help Studytube to accelerate its expansion into Germany, Belgium, the Nordics, and the UK. The company also plans to open offices in the Nordics soon.
Studytube’s Homam Karimi says, “Thanks to the Springest acquisition, our portfolio has instantly grown to over 8,000 learning providers that offer over 250,000 online and offline learning products. In 2021, a total of €50M worth of learning products were procured through our marketplaces. We’re welcoming all 60 Springest team members, as they have over a decade of experience in the learning and development space.”
In addition, the acquisition will also see Studytube add over 30 large enterprises to their client base. These include T-Mobile, Vattenfall, Aegon, NS, Eneco, and STORK. All in all, Studytube currently serves over 300 mid to large enterprises across various industries.
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