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03 February 2021
CVC and OES join Studiosity as minority investors, with the Company’s plans for product development and international growth remaining unchanged.
Studiosity, the leading online academic study support platform for universities, announced today that it is welcoming two new investor groups onto its share register, as it continues to experience strong demand for its platform by universities both domestically and internationally.
The two new investors are Online Education Services (OES), part of the SEEK group. (ASX:SEK) and CVC Emerging Companies Fund. OES is a global online education enabler that partners with universities to deliver end-to-end and bespoke solutions for online learning. OES has more than 13,000 students enrolled in its university partnerships across Australia, New Zealand and the United Kingdom, and has recently expanded its services into North America and Europe.
CVC Emerging Companies invests in technology-driven, high growth, private Australian companies with revenues between $10-100 million. The fund focuses on market-leading companies that are purpose-led by strong management teams.
“This is a wonderful vote of confidence in Studiosity, our people, and the solutions we have developed over many years to meet the emerging needs of the higher education sector,” said Jack Goodman, the founder and executive chair of Studiosity. “OES has been a cornerstone partner for many years, and we look forward to collaborating even more closely as online learning plays an increasingly important role in the global higher education ecosystem.”
“For several years Studiosity has proven to be an exceptional educational and technology service provider,” said Denice Pitt, CEO of OES. “With our investment in the Company, we expect to discover many synergies as we collaborate to deliver new services for universities and their students, across all the geographies in which OES operates.”
“From our first meeting we were impressed with Studiosity’s mission, solutions, market share, and leadership team,” said Christian Jensen, Portfolio Manager at CVC Emerging Companies Fund. “We look forward to assisting the Company to reach its next milestone, including a potential public offering.”
Studiosity was founded in 2003 with the mission of increasing life chances for students, wherever they may be located. The Company starts 2021 with nearly 100 university and tertiary institutional partners across ANZ and Europe, and it plans to begin offering its services to universities in Canada later this year. In 2020 demand for its services grew by nearly 40 percent as it delivered more than 12 million minutes of personalised learning support.
CVC and OES join Studiosity as minority investors, with the Company’s plans for product development and international growth remaining unchanged. Denice Pitt from OES will join Studiosity’s board of directors, and CVC will take an observer seat.
Studiosity and its investors were represented by Blackpeak Capital and Elevate Legal. OES and CVC were represented by Deloitte and Jones Day.