Studiosity, a Sydney-based online academic study support platform for universities, has added two new investor groups onto its share register as minority investors: Online Education Services (OES), part of the Seek Group, and CVC Emerging Companies Fund.
Studiosity was founded in 2003 and has nearly 100 university and tertiary institutional partners across Australasia and Europe, and plans to begin offering its services to universities in Canada later this year. The company stated that demand for its services grew by almost 40% last year when it delivered more than 12 million minutes of personalised learning support.
OES is a global online education company catering to more than 13,000 students enrolled in its university partnerships across Australia, New Zealand and the UK, and has recently expanded into North America and Europe.
CVC Emerging Companies invests in technology-driven, high-growth, private Australian companies with revenues between A$10 million and A$100 million.
Jack Goodman, founder and chair of Studiosity, said: “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. 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.”
Denice Pitt, chief executive of OES, added: “For several years Studiosity has proven to be an exceptional educational and technology service provider. 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.”
CVC Emerging Companies Fund’s portfolio manager Christian Jensen said: “From our first meeting we were impressed with Studiosity’s mission, solutions, market share, and leadership team. We look forward to assisting the company to reach its next milestone, including a potential public offering.”
Pitt from OES is joining Studiosity’s board 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.
Date published: 8 February 2021