Amsterdam, 12th May 2021 – Mobile microlearning platform MobieTrain has raised €4 million in a series-A funding round. The funding round was spearheaded by the British-Belgian Force Over Mass Capital. Two previous investors, investment fund LRM and Concentra, Family Office of the Baert Family, also took part in the round. The new funding will allow MobieTrain to further develop its platform and further accelerate its international expansion.
Today, the ability to continuously learn and quickly internalize new information has never been more important to so many different vocations—from office workers, to the people who work in deskless, frontline, customer facing-jobs such as warehouse staff and hospital workers. With brick-and-mortar retail bouncing back, as well as several other industries, European economies are slowly picking back up.
The need for properly trained, well-informed staff is therefore more important than ever. However, deskless employees are often busy and without the time to actively keep their knowledge up-to-date. With its gamified platform and bite-sized, personalized learning tracks, MobieTrain offers a solution to learn while in the flow of work. Built-in retention techniques ensure knowledge is retained more effectively.
“Digitization accelerated at an incredible pace amidst the Covid pandemic, which explains the increased interest from VCs in HR Tech companies in Europe. We’re proud that we have large investors backing our strong ambitions for growth. Our mission of making learning accessible to all employees and thereby adding to their development has only just begun”, Guy Van Neck, CEO and founder of MobieTrain explains. “Not only can we further develop our platform with the new funding, but also offer it to an ever growing international audience.”
400% revenue growth, development and international expansion
Throughout the pandemic, MobieTrain was able to quadruple its company revenue and strengthen its solid position within the retail industry. The company also saw its customer base double with clients in logistics, production and government organisations. Among others, the municipality of Antwerp, Atlas Copco, Decathlon, Deloitte, Emirates Post and Proximus now work with the app. In the Netherlands, several government organisations, such as the Dutch police force and the municipality of Rotterdam, already work with MobieTrain. The platform now has nearly 100,000 users in more than 20 countries.
In the upcoming months, Mobietrain will further develop its platform. “By adding new gamified elements, we help elevate employees’ intrinsic motivation. Furthermore, it’s important to offer the right educational content to the right person at the right time. To do so, algorithms and machine learning play a crucial role. Such aspects have our full attention in the upcoming months”, says CTO Willi Van Boven.
The funding round also provides the HR Tech scale-up with the necessary resources to accelerate its international expansion, grow the team from 25 to 40 employees, and build towards establishing market leadership in the European market for mobile learning. In this respect, MobieTrain also secured partnerships with SAP SuccessFactors and with Goodhabitz, a company that offers online learning tracks. Tech giant SAP recently added MobieTrain to its SAP store, which creates further potential for international expansion. Currently, 50% of all revenue comes from outside of Belgium. In the Middle-East, Emirates Post and EFS Facility Services work with MobieTrain, among others. Internationally acclaimed retail companies such as Diesel and Hästens also use the app.
Force Over Mass as a new shareholder
To further speed up international growth, MobieTrain will also make use of the expertise, focus, and input of its new shareholder Force Over Mass. The British-Belgian VC with its headquarters in London and an office in Antwerp, brings its experience of supporting rapidly growing businesses as well as an international network.“Through the combination of microlearning and gamification, MobieTrain achieves engagement rates and a level of knowledge retention that is seldom seen in digital training and communications”, says Wouter Volckaert, partner at Force Over Mass. “The strong international growth and enthusiasm of the great many blue-chip companies that work with MobieTrain confirm the need for better learning tools for the deskless workforce. MobieTrain has a rock-solid product and team, and we’re looking forward to supporting them in realizing their ambitions.”