New South Wales (AU), September 2019 - Corporate training platform EdApp has secured $4.25 million in a funding round led by its existing backer SafetyCulture, which had previously invested $4 million in the learning platform's initial capital raise in 2018.
SafetyCulture CEO Luke Anear, who will now join EdApp's board of directors post-investment, believes that the app-based education and training market has a lot of potential. "The team at SafetyCulture and I will continue to support EdApp founder Darren Winterford and the team with their vision to deliver microlearning globally," he said.
EdApp estimates this niche market to be worth US$70 billion by 2024, as companies look to make mobile functionality the centrepiece of their corporate education and training offerings.
"Many providers of corporate training have attempted to simply offer their courseware on mobile," Winterford said. "However, this is not addressing the core of the problem and as a result hasn't really moved the needle."
With offices in London, New York, and Sydney, EdApp have expertise across the globe, enabling successful commercial programmes with major global brands like Danish jeweller Pandora, which uses EdApp's technology to train retail employees across the Asia-Pacific; Mercedes-Benz; Shell Oil Company; iconic drinks manufacturer Pernod Ricard; and FMCG giant Mars. Part of the attraction, Winterford suggests, is the focus on "gamification" which is made possible by a mobile-first build and really drives engagement with learners.
Winterford makes no attempt to hide EdApp's ambition, saying he hopes his company is a beneficiary of the kind of warm knowledge sharing he says Silicon Valley is known for. For his part, Anear doesn't seem to think EdApp's growth hopes are too farfetched, saying SafetyCulture will continue to invest in other startups in order to "build something greater than we would on our own".