PRZOOM - /newswire/ -
St Albans, Herts, United Kingdom, 2015/07/16 - After only four months since it invested $3m in Docebo, Klass Capital has decided to acquire Seeweb’s shares in the company.
Last February, cloud elearning provider Docebo raised $3m in growth equity from Canada based Venture Capital firm Klass Capital to accelerate the growth of its SaaS enterprise elearning platform and fuel expansion into the North American market.
After only four months, Klass Capital decided to acquire Seeweb’s shares in Docebo. Seeweb is Docebo’s first angel investor.
“Obviously our top investor Klass Capital is very pleased with the pace of execution at Docebo,” said Claudio Erba, Docebo’s CEO and Founder.
“And, as Klass Capital makes its move, Seeweb makes a great exit,” he added.
Docebo has over 800 business-to-business (B2B) clients in over 80 countries worldwide (including Bloomberg Institute, Thomson Reuters, FreshBooks and Autodesk among others) and it is available in over 30 languages. The Company has offices in the United States, Italy and Dubai.
“Seeweb was the first to believe, and invest, in Docebo,” commented Antonio Baldassarra, Seeweb‘s CEO. “In fact, they used Seeweb Cloud Infrastructure during their transition to a SaaS business model. It only took a few years for Docebo to become a prominent international cloud software provider in the elearning industry which has paid off tremendously.”
Daniel Klass, President of Klass Capital added,“We are impressed with how rapidly the Company has been able to scale revenues internationally, and this trend is only growing stronger. That is why we have decided to increase our investment in Docebo and to commit additional budget for future M&A operations.”
Klass Capital is a venture capital firm targeting small software or web enabled post revenue companies. The company’s target equity investment size is between $2m and $10m. Klass Capital has a unique entrepreneurial culture and hands on approach that attracts an impressive roster of driven entrepreneurs. Klass Capital is based in Toronto, Canada and have a North American focus, with a primary focus on helping partners become world leading organizations.
Docebo’s Cloud-based, Software-as-a-Service (SaaS) Enterprise learning management system (LMS) is sold in more than 80 countries. Established in 2005, Docebo (Latin for “I will teach”) has over 28,000 installations and offers an enterprise solution for mid-sized to large organizations. Customers benefit from Docebo solutions thanks to a scalable pricing model, a third party integration (via API), and reliable service available 24/7 to further enhance the user experience.