The funding will help Odilo expand into new markets in North America and Africa. Here are the top-line bullets you need to know.
Odilo, an edtech startup, has raised $64M in a Series C. The round drew participation from Bregal Milestone, Swanlaab Venture Factory, and Centro para el Desarrollo Tecnologico Industrial.
HOW’S THE COMPANY PERFORMING?
- Spain-based Odilo offers a white-label platform to help organizations create customized e-learning offerings.
- The company boasts a content portfolio of 3.9M items, like books and podcasts, from 6.3K publishers in 43 languages.
- Odilo’s catalogue is reportedly accessed by 170M users through 8.5K institutions across 50+ countries.
- It counts governments, libraries, universities such as MIT, and corporations like Google, Skoda, Iberia, Samsung, and Vodafone among its customers.
- The company is supported by a team of 200+ employees.
Source: Odilo
WHY DOES THE MARKET MATTER?
- The global corporate learning management system (LMS) market is expected to reach a value of $9.3B by 2026, growing at a CAGR of 22.8%, according to Valuates Reports.
- The number of enterprise learners more than doubled from 2019 to 2020, according to a LinkedIn survey. The same survey reported that 59% of learning & development professionals planned to prioritized upskilling and reskilling programs in 2021.
