Simplilearn, a Bengaluru-based education technology start-up, has acquired Market Motive, a Silicon Valley-based digital marketing training company for around $10 million (Rs 64 crore).
As a part of the deal, Market Motive co-founder Michael Stebbins will join Simplilearn as chief innovation officer and work alongside Prashant Parmar, director of US operations. Market Motive will continue to operate as an independent arm of Simplilearn and Stebbins will stay on as chief executive with his team.
Market Motive was co-founded in 2007 by Stebbins, John Marshall, and Avinash Kaushik, digital marketing evangelist at Google. The firm has delivered web-based certification programmes to Fortune 500 companies, including Microsoft, Home Depot, Dell, Ogilvy, Federal Express and JPMorgan Chase, and education institutes like Duke University, Benedictine University and Concordia University.
“The digital marketing ecosystem is at the tipping point and this is the right time for us to expand our products in this hot segment.,” said Krishna Kumar, founder and chief executive of Simplilearn. In April, it had raised $15 million in Series-C funding in a round which was led by Mayfield and participated in by Kalaari Capital and Helion Venture Partners.
Simplilearn has a catalog of more than 250 online courses across industries and functions. The company trained over 400,000 professionals across 150 countries, led by over 2,000 qualified trainers.
“We look forward to providing a higher level of service, an ever-expanding list of certifications, and an enhanced customer experience through improved video delivery, user experience, and customer support. As a hiring manager, I see the need for short-term certification to put knowledgeable workers in higher-paying roles,” said Stebbins on the deal.
In April this year, Simplilearn had raised $15 million in Series C funding in a round which was led by Mayfield and participated by Kalaari Capital and Helion Venture Partners with an aim of expanding rapidly into the US and other primary markets.
“Digital Marketing is a key growth strategy for most organizations today and is driving the demand for certified professionals across the industry. Short-term online courses that position the participant as an expert, are the future of professional education,” said Navin Chaddha, Managing Director of Mayfield.