Lepaya Secures $40M for Skills Training

Lepaya, a provider of soft skill training that combines both online and offline learning, announced that it has secured $40M (approx €35.5M) in the Series B round of funding, making it one of the largest financing rounds to date for an edtech company in Europe. The latest funding brings the total capital raised to $47M (approx €42M). The round was led by Target Global, along with the participation from Noor van Boven (formerly N26), Anna Brandt (formerly Mollie), entrepreneurs Jordy Kool (Urban Gym) and Chris Zadeh (formerly Ohpen), as well as existing investors Mediahuis Ventures and Tablomonto.

René Janssen, CEO and co-founder of Lepaya, says “With the labour market undergoing rapid change, organisations face a huge skill gap. The lack of upskilling options is one of the top three reasons employees want to leave the company they are working for. At the same time, leaders need to understand and train for the challenges of the 21st century including remote work and empower their employees to grow. They must transform their workforce to drive productivity and growth as well as mitigate employee attrition. Lepaya anticipates this shift by providing training for power skills that make employees fit for the future of work.”

The company has built a mobile learning app that allows companies across all industries to tailor training as per employees’ and executives’ needs. The platform combines over 50 soft and hard skill training modules into power skill development programs, offering learning interventions and real-time data on learner behaviour and impact. 

The funding will enable Lepaya to grow its international presence and accelerate its strong momentum across all markets, further consolidating the edtech market in 2022 with targets in Germany, the Nordics, and the UK. The company is also planning to scale its international team further, doubling its headcount to 200 employees in the coming year. 

Announcement: Lepaya Secures $40M for Skills Training