Avallain, the award-winning Swiss provider of cutting-edge e-Learning and EdTech solutions, has succeeded in securing a second growth financing amounting to $8.4 million (€8 million) from the European investment fund for revenue-based finance and growth financing, Round2 Capital.
The company’s founders Ursula Suter and Ignatz Heinz continue to control the company as majority shareholders.
The aim of this funding round is to provide a solid support for the company’s strong growth and pace of innovation, said a press statement.
Founded in 2002 by EdTech pioneers Ursula Suter and Ignatz Heinz, Avallain is an award-winning Swiss provider of EdTech and e-Learning solutions, working with leading brands worldwide. The company’s mission is to unlock human potential through innovative, technology-enabled education, enabling quality-driven companies and organizations to create and operate highly-interactive e-learning solutions.
Avallain’s team covers five continents and represents more than 14 nations. The company is an active participant in the UN Global Compact and aims to advance the SDGs by being climate positive from 2023 and contributing to positive social change in sub-Saharan Africa through the Avallain Foundation.
Ursula Suter, Co-founder of Avallain AG, said,
Based on the recent dramatic increase in demand for EdTech during the pandemic, Avallain has once again proven itself as a solid, high-quality provider and reliable partner for end-to-end edtech solutions. In order to consolidate and expand our leading position internationally in an environment of new entrants that often focus on single challenges rather than holistic solutions, we decided to raise additional funds from a strong partner who understands and appreciates our markets and the high potential we have based on the best-in-class technology and market position we have built over the past years. The previous cooperation with Round2 Capital has been excellent and we are pleased to extend the participation of a growth partner with a philosophy that suits us. With this deal structure, the founders retain control of the company and receive sufficient potential for the next chapter.
The newly raised money will enable Avallain, beyond the possibilities of its own profits, to introduce product innovation for customers more quickly and to expand further into existing as well as new markets. Additionally, Avallain will continue to expand its partnerships and ecosystem to enable customers to implement seamlessly into their digital landscape and benefit from new synergies, according to the company.
Stefan Nagel, the Managing Partner at Round2 Capital, said,
We are excited to take the next step in our collaboration with Avallain with this transactional. Avallain’s management team, led by Ursula and Ignatz, has used Round2 Capital’s initial 2020 investment to holistically position the company for growth and has begun rolling out its new SaaS application, Avallain Magnet. Following the successful implementation of these processes, we are pleased to be able to further support this expansion with our funding. Education Technology is one of Round2 Capital’s focus sectors, along with Cybersecurity. Avallain is very well positioned to address the further growth potential of the digitization of education.
In late 2020, Avallain raised 7-figure growth funding from Round2 Capital for the first time in its history to accelerate the bootstrapped scale-up it had built until then. i5invest once again acted as an advisor to Avallain AG and supported the growth funding transaction with Round2 Capital.