The learning platform Masterplan.com has announced their second mid-seven-figure loan within one year. Both funds were raised with existing investors only and add up to a 13-million-euro round in total.
Masterplan is looking back on a very successful 2020: Like other EduTech startups, the company came out on top of the Corona crisis and tripled its revenue within a year. Three years after its launch, more than 250 companies, including Otto Group, VW or EON, use Masterplan to digitize their internal training.
"We entered the market in 2017 as the Netflix of professional training with high-quality produced video content. Meanwhile, Masterplan is the all-round solution for all learning activities in companies. With our software, our customers can digitize their sales, product, leadership, soft skills, onboarding or mandatory trainings in no time", says Stefan Peukert, founder and CEO of Masterplan:
"We are very successful with this concept. In 2020 alone, we tripled our revenue. Now it’s a matter of setting the course for the future: With the new funding, we will expand our target market to be the best offer for small and medium-sized companies. For that we will focus on the development of our software, to become the most intuitive and most flexible solution for all our customers’ needs. [...]"
Masterplan had only just announced funding in September of last year and have already announced the second funidng sum within a year. With the additional funding, Masterplan intends to further expand the development and distribution of its proprietary software. Most recently, Masterplan launched a no-coding tool (Masterplan Creator) that allows companies to build their own learning courses, and released a new Android and iOS app.
At the same time, Masterplan continues to build its management team: Talip Yenal recently joined Masterplan as Chief Financial Officer, having previously helped steer the online retailer Amorelie as Managing Director. Iva Agova, a former Trivago employee, joined as Head of People and is expanding the HR division. And at the beginning of 2019, Dr. Jörn Heyenrath joined Masterplan as Sales Director from Stepstone. The respective sales team now numbers over 30 employees. Co-founder Dr. Daniel Schütt is also moving to the advisory board and will support the company from now on as an advisor and shareholder.
"The past three years have been an incredibly exciting and successful journey for Masterplan. For me, the right time has come to make my family the focus of my life", says Dr. Daniel Schütt: "For this reason, I have decided to change from my role as co-managing director to an advisory role. This means I will continue to work with some of our most important customers and to support Masterplan strategically."
Looking back on 2020: The Year of Corona
Masterplan founder and CEO Stefan Peukert on the impact of the Corona crisis on the past year: "Companies suddenly couldn’t fly in their global sales staff for product training anymore. Onboarding for new colleagues had to be done remotely. Large parts of the workforce were converted to remote and home offices, and many teams found it difficult to organize and motivate themselves. We had digital solutions for all these challenges before Corona. And that gave us a huge boost last year and triggered a development that we believe is irreversible: Offering training digitally cuts costs, time and travel while increasing the effectiveness of learning."