Amsterdam-based ed tech StuDocu, which provides students with a platform to exchange knowledge, has raised $50 million Series B funding from venture capital firm Partech.
StuDocu said it caters to 15 million students from 2,000 universities across 60 countries. The company’s online content library was started from the founders’ dorm rooms. As students they realised that collecting all useful study resources from their study friends could be done more efficiently, so they created an online platform where students can share study materials – lecture notes, summaries and practice materials – to exchange knowledge with fellow students.
StuDocu said it will invest the funds into global growth and expanding its team significantly. Previous funding rounds raised in 2015, 2018, and 2019 kick-started its expansion to markets like Australia, Canada, Germany, the UK and the US.
Marnix Broer, co-founder and chief executive of StuDocu, said: “We are now in an even stronger position to accelerate our global roll-out and it allows us to take the next step in our mission to help students world-wide make the most of their studies. Our team’s passion together with our successful business model brought us to the very healthy state we’re at now. This investment is proof that we’re on the right track and will ramp up our steep growth trajectory. With Partech’s scale-up experience on-board StuDocu is set up well for reaching even more students with even better products in the years to come.”
Bruno Crémel, general partner at Partech, added: “StuDocu is a platform already helping millions of students around the world, and we’re excited to partner with this talented team in their mission to make education more accessible to all. When we met the team at StuDocu, we were wildly impressed with their data-driven culture and by how much students really love using their services. We look forward to working closely with Marnix and his team as they accelerate StuDocu’s global expansion and develop even more innovative ways to support students in meeting their learning goals.”
Date published: 13 May 2021