Fuse Universal Raises $10million Growth Capital Investment
Fuse Universal announces $10million growth capital investment to disrupt the global learning technology market. Education Growth Partners invests $10million to bolster traction in Corporate and Higher Education markets, expand sales and services operations in London, Cape Town and New York and accelerate the product roadmap.
Fuse Universal (Fuse) is an award winning, global learning technology company revolutionising online learning, knowledge sharing and communication in the workplace through its innovative technology platform, that supports continuous, social, blended and mobile learning. Fuse is uniquely positioned in the learning technology, digital content and higher education space. The Fuse platform is modular and flexible, acting as a total learning solution, integrating seamlessly into a company’s existing infrastructure, replacing legacy learning management systems (LMS) and communication tools or adding the modern elements that legacy platforms need to fully engage their learners.
Launched in 2011 and based in Shoreditch, London, Fuse has experienced tremendous growth in the last year, attracting customers from big brands in the retail sector, like Vodafone, Carphone Dixons and L’Oreal and winning new customers in the banking and telecommunications sectors. Fuse has also been successful in helping to modernise traditional training companies like Lifetime and Ingeus to transform their training offering to fully blended and digital. Customers from across the different sectors have chosen Fuse due to its unique proposition that combines learning, communication and knowledge sharing in one platform across all devices, positioning itself at the forefront of online learning.
Steve Dineen, Founder and CEO of Fuse Universal explains: “We were looking for an investment partner, rather than just investment and we believe we have found that in Education Growth Partners. Peter Campbell, Jose Wehnes and the EGP team have a deep understanding of the global learning and education market and have an impressive track record in the industry. We see this investment as validation of our learning philosophy and technology. It’s also a validation of our strategy where we have pioneered a focus on continuous learner engagement, which makes us stand out from our competitors. We’re extremely excited about the future”.
Peter Campbell, Managing Partner of Education Growth partners added: “This is an exciting opportunity for us. As education specialists, we believe there is considerable opportunity to leverage our deep experience to help the Fuse management team map out a highly differentiated product strategy and an aggressive growth plan for the future.”
Innovation and Growth The global learning technologies market is growing at 20% a year and the global learning and training industry is expected to be worth $6.37trillion by 2017. Fuse has ambitious plans to grab a large chunk of the pie through its innovative solution and team expansion.
“This is just the beginning. There is still a wide open space in front of us to continue innovating and bringing incredible new products to disrupt the market. With these new resources, we’ll be able to continue to push the envelope, making extraordinary new tools available around the world,” Dineen continued.
“The team we’re putting together is the most creative and passionate team working within the learning technology industry and I’m personally excited about using this new investment to grow our team and take Fuse to the next level.”
The investment, alongside boosting its core business, will also enable Fuse to realise its social mission by building out The Fuse School, which is currently in beta and already has over 25,000 subscribers.
About Education Growth Partners
Founded in 2011, Education Growth Partners is the premier growth private equity firm dedicated solely to providing growth capital to proven, high potential education services companies that offer compelling solutions addressing unmet needs in training and education. The firm leads growth capital financings, minority recapitalizations, and buyout of profitable, high growth companies in the Pre-K, K12, higher education, corporate and life long learning sectors. The firm is headquartered in Stamford, CT. Further information is available via www.edgrowth.com.