Founded in 2001, Conexus has developed into a leading provider of digital learning platforms to the Norwegian school sector, used by thousands of schools and more than one million students worldwide. The company’s solutions facilitate deeper learning among students, making it easier for them to gradually and over time develop their understanding of concepts and contexts within a subject, in addition to facilitating improved learning dialogues between teachers, students and parents.
Structured learning starts at school, but up- and re-skilling are turning into a lifelong adventure. Conexus’ digital learning platform caters to the needs of employers looking for digital competence management solutions, and employees in need of training and development to meet continuously changing skill requirements.
Conexus taps into a global education technology market which, according to EdTechXGlobal, is growing 17% annually and is expected to reach USD 252 billion in 2020, and a learning analytics market expected by Gartner to grow by 26% annually to reach USD 8.3 billion in 2023. Conexus has already taken its first steps internationally, and in November 2018, the company secured two contracts in Singapore. By partnering with Verdane the company plans to kick-off its continued international expansion.
“As a company, we were born at school but are continuously expanding our offering to meet learning and competence management needs in new pockets of the fast-growing global ed-tech market. Verdane is an experienced investor in fast-growing software and technology companies and is the perfect partner for Conexus as we continue on our journey,” says Steinar Evensen, CEO at Conexus.
“Conexus is operating in a strong structural growth trend within digitalisation of education and is one of the rising stars in the fast-growing Norwegian ed-tech cluster. We are looking forward to joining the team on its next stage of growth, by leveraging Verdane’s experience from other ed-tech investments such as dyslexia aid software company Lingit, and expertise in growing software and technology enabled companies,” comments Johnny Rindahl, partner at Verdane.
In the transaction, Verdane acquires Ströer Venture GmbH’s shares and shares from other owners, resulting in an ownership of around 80%. Further financial details were not disclosed.
About Conexus
Conexus is one the leading Norwegian EdTech companies and supplier of systems for student follow-up to 90% of the primary and lower secondary schools in Norway. In addition, the company has developed systems such as the National Student Survey and the national reporting system BASIL to all preschools in Norway. In terms of market share, Conexus is the largest EdTech supplier to the Norwegian youth sector. In recent years, the company has turned to the corporate market, in which it experiences strong growth. Conexus expects its revenue from the corporate market to exceed the revenue from the school market during 2021. The company has close to 100 employees where approximately 50% works from the head office in Drammen, Norway. For more information, please visit www.conexus.net
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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Press Contact
Verdane Press Office
press@verdane.com
+46 76 27 28 100
Steinar Evensen, CEO
Conexus
sev@conexus.no
+47 95 75 53 03
