Online professional certification courses provider Simplilearn has acquired US-based digital marketing training company Market Motive for $10 million. Following the acquisition, Market Motive will continue to operate as an independent arm of Simplilearn. Market Motive’s co-founder Michael Stebbins will serve as CEO along with his entire team. He will also join Simplilearn as the chief innovation officer and work with the company’s director of US operations Prashant Parmar in further expanding its presence in North America. Courses in social media marketing, digital advertising web analytics and marketing automation will be also be added to Simplilearn’s platform.
Founded by Stebbins, John Marshall and Avinash Kaushik in 2007, Market Motive has delivered web-based certification courses to companies like Microsoft, Home Depot, Dell, Ogilvy, Federal Express and JP Morgan Chase, as well as educational institutes like Duke University, Benedictine University and Concordia University. The courses on offer provide training in areas like SEO, web analytics, social media marketing, conversion optimization, mobile marketing, PPC advertising, and content marketing among others.
Simplilearn funding: In April this year, Simplilearn had raised $15 million funding led by Mayfield, with participation from Kalaari Capital and Helion Venture Partners. Simplilearn CEO Krishna Kumar had said that the funds will be used to invest in the platform, expand course coverage, and further expand in the US and other primary markets. The company has raised a total of $27 million so far, including $10 million from Helion Venture Partners and Kalaari Capital in September 2013, and an undisclosed amount of funding from Kalaari Capital in August 2012.
Series of key appointments: Last year, the company had made a series of appointments: Gerald Jaideep was appointed as the Chief Operating Officer in November. In September, Simplilearn had also appointed Prashant Radhakrishnan as its Chief Sales Officer, while Quikr’s Gagan Singla had joined the company as its CMO in May.
TutorVista founders acquired Avagmah: In April last year, Bangalore-based education website for working professionals, Avagmah had been acquired by TutorVista founders Meena Ganesh and K. Ganesh, and Capital18. The investment made through the acquisition stood at Rs 15 crores, although the percentage invested by each was not clear. At the time, Avagmah was apparently in talks to raise Rs 100 crores to fund its expansion plans to Sri Lanka, Malaysia, Indonesia and the Middle East. Avagmah offers degree and certification courses for working professionals who wish to continue their education.