Lepaya, a leading corporate EdTech provider, has secured $38 million in funding, marking the largest investment in this sector for 2023. The company aims to revolutionize the $400 billion corporate learning market with its AI-powered capability development platform. The platform is designed to identify, close, and track skills gaps for global organizations like ING, Dell, Maersk, and KPMG. The funding will be used to enhance AI tools and data analytics, offering a more personalized and effective learning experience for employees.

A Milestone in EdTech Funding

In a landmark move that has sent ripples across the corporate learning landscape, Amsterdam-based EdTech startup Lepaya has secured €36 million (approximately $38 million) in one of the largest funding rounds of 2023. The investment was spearheaded by Endeit Capital and saw participation from Educapital, Mars Growth Capital, Liquidity Capital, as well as existing investors Target Global and Mediahuis Ventures.

Tripling Revenue and Expanding Reach

This funding comes on the heels of Lepaya's impressive growth trajectory. Since its last funding round in 2021, the company has made three acquisitions and tripled its revenue. Lepaya has solidified its position as one of the largest corporate EdTech providers in the EMEA region, serving over 2,000 clients, including global giants like ING, Dell, Maersk, and KPMG.

A Comprehensive Upskilling Solution

Founded in 2018 by René Janssen and Peter Kuperus, Lepaya offers a comprehensive upskilling solution that blends online, offline, and virtual reality training. The platform is designed to increase talent retention and productivity by delivering the right training, at the right time, focused on the right skill. This approach aligns with the company's vision to enable overall business growth through effective skill development.

AI-Driven Capability Development

The newly acquired capital will be used to double down on the development and go-to-market strategies for Lepaya's AI-driven capability development platform. This platform is poised to redefine how organizations identify, close, and track skills gaps. It combines artificial and human intelligence to offer deeply personalized learning experiences. Further investments will be made in AI tools, such as an AI-coach, which will adjust the learning content based on an individual learner's context and career level.

Bridging the Skills Gap

Lepaya's platform not only identifies skills gaps but also provides actionable insights and scalable solutions to bridge them. This is particularly crucial in today's tight labor market, where workforce planning is a significant challenge for many organizations. Lepaya's AI SkillsOps features will ensure that all global Learning & Development operations are streamlined and effective.

Industry Reactions

Edwin Hengstmengel from Endeit Capital commented on how Lepaya has become a core part of its client's upskilling DNA. Jonathan Denais from Educapital praised Lepaya's platform for its ability to provide a scalable way for enterprises to upskill their internal talent.

The Future of Corporate Learning

With this significant investment, Lepaya is well-positioned to pioneer a future where businesses can thrive in the face of rapid technological changes and emerging skill needs. The funding marks a pivotal moment in corporate upskilling and sets the stage for Lepaya to revolutionize the $400 billion corporate learning market.