StuDocu, an Amsterdam-based edtech scaleup offers a platform for students to exchange knowledge. In a recent development, the company announced that it has closed $50 million (nearly £36 million) in a Series B funding round.
Fuels global growth
The investment round was led by Partech, a global venture capital firm. StuDocu intends to use the funds to further fuel its international expansion in markets including Australia, Canada, Germany, the UK, and the United States. Also, the edtech company eyes to become the international leader in document sharing space for students globally with this investment. Furthermore, the company moves closer to its mission to serve all 200 million college and university students globally. It also wants to expand its team in the global markets.
“StuDocu is now in a very strong position to accelerate our global roll-out which will bring us closer to reaching our goal of helping students worldwide make the most of their studies,” said Marnix Broer, CEO and co-founder of StuDocu. “Our top notch international team together with our successful and profitable business model brought us to the very healthy state we’re at now. This investment is proof that we’re on the right track to complete our mission 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.”
“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.” commented Bruno Crémel, General Partner at Partech. “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.”
Massive growth amidst pandemic
The round came after a year of growth wherein StuDocu achieved over double the monthly active users. Currently, the edtech company serves over 15 million students from 2,000 universities across 60 countries.
Previously, StuDocu raised investments in 2015, 2018, and 2019 that paved the way for its expansion across global markets. Eventually, the company is gearing up to become an international leader in the document sharing space.
Established in 2013 by four students Marnix Broer, Lucas Houten, Sander Kuijk, and Jacques Huppes, StuDocu realised the necessity to share study resources more efficiently. The online platform lets students share their study materials including lecture notes, summaries, and practice materials, and exchange knowledge with fellow students. It is touted to serve 155K students in the UK to exchange knowledge.
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