Studytube secures $30M series B and acquires training marketplace Springest

Studytube is a Dutch edtech startup which offers an online learning and development platform for mid-sized and big businesses through a SaaS-enabled marketplace that offers courses from third-party providers. Docebo, LearnUpon, Cornerstone, and Go1 are all competitors of Studytube.

CEO Homam Karimi said, "Studytube competes because our learning management system is all-encompassing, with detailed reporting, qualification administration, and simple automation of complex business processes." As a result, it can manage compliance-driven industries like healthcare."

Springest, a European training-booking marketplace, has been acquired by Studytube. It also closed a $30 million Series B funding round, sponsored by Energy Impact Partners (EIP) and current investor Verdane Capital, at the same time. However, the acquisition's terms were not revealed.

Studytube will gain more than 30 new clients as a result of the addition of Springest, including T-Mobile, Vattenfall, Aegon, NS, Eneco, and STORK, and will now have over 300 mid-size to large businesses across a variety of industries, according to the company. It also grows into Germany, Belgium, the Nordics, and the United Kingdom. Studytube today employs over 180 people in offices in Amsterdam, Berlin, and Kharkiv, with ambitions to expand to the Nordics in the near future, also the recent round of funding will be used to expand workforce and make further smart acquisitions across Europe.

"Thanks to the Springest acquisition, our portfolio has quickly risen to over 8,000 learning providers that offer over 250,000 online and offline learning products," stated Studytube CEO Homam Karimi. Our marketplaces procured a total of 50 million euros worth of learning products in 2021."