After raising $15 million earlier this year, Bengaluru-based ed-tech startup Simplilearn, today announced a $10 million deal to acquire Market Motive. Based in Silicon Valley, Market Motive was co-founded in 2007 by Michael Stebbins, John Marshall and Avinash Kaushik. It builds curriculum that trains professionals on digital marketing, and has delivered web-based certification programs to Fortune 500 companies.
Post this acquisition, Market Motive will continue to operate as an independent arm of Simplilearn with Michael staying on as CEO along with his entire team. Michael will also join Simplilearn as the Chief Innovation Officer and work alongside the company’s Director of U.S operations, Prashant Parmar in strengthening Simplilearn’s presence further in North America.
The merged entity
Till date, both Simplilearn and Market Motive have helped more than 400,000 professionals in over 150 countries see a $4 billion worth of pay raises. Post this acquisition, Simplilearn is looking towards an expanded presence in the U.S. where it can offer a turnkey solution to working professionals and college graduates who are trying to advance in their careers.
Market Motive's courses and certification provide authoritative cross training in SEO, web analytics, social media marketing, conversion optimization, mobile marketing, PPC advertising, and content marketing.With the acquisition of Market Motive, Simplilearn's catalog of over 250 online courses across industries and functions, augments its offerings in the booming digital marketing field. The global digital advertising spend in this field is projected to reach $278 billion in 2019 -- with courses in Social Media Marketing, Digital Advertising Web Analytics, and Marketing Automation.
What doesn't change?
Simplilearn's focus continues to providing a wide range of short term certification-based courses that have a direct impact on the learners’ career. Krishna Kumar,Founder & CEO of Simplilearn says,
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. We are impressed with Market Motive’s enriched content and domain expertise backed by industry experts apart from their approach towards online training, which fits strongly with our business strategy.
As a hiring manager, Michael sees the need for short-term certification to put knowledgeable workers in higher-paying roles. Degree or not, the economic value of these courses is huge and it is rewarding for him to see lives changed through the training.
In April 2015, Simplilearn raised $15 million in Series C funding led by Mayfield, with participation from Kalaari Capital and Helion Venture Partners to expand rapidly in the U.S and other primary markets.
Navin Chaddha, Managing Director of Mayfield believes that 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. He further believes that Market Motive adds a fast-growing online marketing training vertical to Simplilearn as they meet a demand for e-learning expected to exceed $169 billion by 2018.
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