HEDLINE: The Maker of Eliademy CBTec raises Seed Round

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CBTec, the Finnish startup behind the LMS / MOOC platform Eliademy raised seed funding from Inventure. Though the amount has not been disclosed, TechCrunch estimates the round at €200.000.

Eliademy is also planning to raise a €4 million Series A by December 2014.

Key Takeaway

Eliademy brands itself as EaaS platform (education as a service) and is a mix between LMS (learning management system) and MOOC platform (massive open online course). Asked what sets Eliademy apart from other services, Eliademy founder, Sotiris Makrygiannis, told TechCrunch

“MOOCs providers currently they offer a closed, pre-selected set of courses. You cannot democratize anything if you don’t use the wisdom of the crowds. In addition they cannot be used as LMS within an enterprise domain.”

Founded in 2013 by a team of ex-Nokia employees who worked on the MeeGo platform, Eliademy is based on the open source Moodle platform and gained significant traction and revenue without making a marketing push.

The platform now has 50.000 users and aims for 1 million users by the summer of 2015. According to Arctic Startup Eliademy had a turnover of €600k in 2013 from its premium offers priced between €6 and €10 per year per license for businesses.

Most parts of Eliademy are free to use. Teachers can create courses, forums and quizzes, share calendars, upload and manage documents etc. and students have access to a broad selection of free courses. To further monetize its user base, Eliademy also offers paid courses through a recently launched marketplace.

The biggest competitor for Eliademy may be Instructure, the company behind the Canvas LMS and Canvas Network. The US-based startup just entered Europe by setting up and office and first partnerships in the UK. Instructure is also bound to announce its IPO in the near future.

Eliademy sees strong growth in Asia and Latin America. The platform is currently available in 26 languages, with 50 localization projects being in the works by the community.

Further Reading

  • Finnish EdTech firm Eliademy showing solid global growth | Arctic Startup
  • Finnish Startup Gets Seed Backing For Its Online Education Platform Play, Eliademy | TechCrunch
  • MeeGo To MOOCs, Ex-Nokians Launch Eliademy To Put Education In The Cloud | TechCrunch
  • HEDLINE: Instructure Canvas enters Harvard and Europe | EDUKWEST


eliademy.com | Twitter | Facebook | CrunchBase

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Kay Alexander

Managing Editor at EDUKWEST Europe
Kay Alexander is the Managing Editor of EDUKWEST Europe and Creative Director of Winkler Media.

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