StudyTube acquires Springest and closes $30m series B
Vortex portfolio company Studytube has acquired Springest and closes $30m series B funding round
Original press release:
February 3rd, 2022
AMSTERDAM – Studytube, a Dutch online learning platform, has acquired Springest, a European training-booking marketplace. Simultaneously it’s closed a $30 million Series B investment round led by Energy Impact Partners (EIP) and existing investor Verdane Capital.
Studytube offers mid-sized and large enterprises an online learning and development platform through a SaaS-enabled marketplace, providing courses from third-party providers. By adding Springest, Studytube will add over 30 clients including T-Mobile, Vattenfall, Aegon, NS, Eneco, and STORK, and will now have over 300 mid-size to large enterprises across various industries, said the company. It also expands its presence into Germany, Belgium, the Nordics, and the UK. Studytube now has over 180 employees, working across offices in Amsterdam, Berlin, and Kharkiv, with plans to soon open offices in the Nordics. The latest investment round will be to scale up staff and make more strategic acquisitions in Europe.
Studytube CEO Homam Karimi said: “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 50 million euros worth of learning products were procured through our marketplaces.”
Springest CEO Ruben Timmermans said: “Springest offers companies and their employees the most comprehensive European training database. By combining our database with Studytube’s online learning and development platform, organizations utilizing Springest can search, find and book courses, but also easily organize, manage, and deliver their learning & development in one place.”
Nazo Moosa, Managing Partner Europe at EIP said: “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. Together with their relentless focus on a superior product, we believe Studytube is going to be one of the winners in the European EdTech space.”