Edtech company Fuse Universal secures $10m
Backing from Education Growth Partners will develop Shoreditch start-up's partnerships with global brands such as Lloyds, Vodafone and L'Oreal
Education technology (edtech) firm Fuse Universal has received $10m growth capital investment from Education Growth Partners, with the aim of “disrupting” the global learning market.
Launched in 2011, Shoreditch-based Fuse’s technology platform integrates into a company’s existing infrastructure to promote knowledge sharing and communication in the workplace through a combination of social and mobile learning.
Over the last year, the company has attracted big name customers in the retail space including Vodafone, Carphone Dixons and L’Oreal, as well as clients in the banking telecommunications sectors.
It will use the investment to gain traction in corporate and higher education markets, accelerate product development and expand its operations in London, Cape Town and New York.
Steve Dineen, founder and CEO of Fuse Universal, commented: “We were looking for an investment partner, rather than just investment and we believe we have found that in Education Growth Partners.
“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”.
Education Growth Partners’ Peter Campbell 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.”