A learning and development business in Fleet has secured a £300,000 loan from the Enterprise M3 (EM3) Funding Escalator, managed by The FSE Group (FSE) on behalf of EM3 Local Enterprise Partnership, to support its expansion.
SEEDL, which recently won new business of the year at the Hampshire Business Awards, provides professional, accredited training via its online platform. It offers over 200 modules and courses delivered live by expert tutors covering areas such as Health & Safety, Compliance, Microsoft Office Suite, Sales, Mental Wellness, Customer Excellence, Leadership, and Communications.
SEEDL's live and interactive approach separates it from other online learning providers, encouraging greater attendance and engagement. The company has been growing steadily over the last three years with customers that include corporates, local authorities and charities. Its platform is currently accessed by thousands of users in 70 countries.
The company is now ready to capitalise on its recent success and will use the funding to support marketing activity and create a number of new roles in the business.
Anthony Price, SEEDL Founder and CEO, said: “As a relatively new business, our lack of financial history and profitability can make it difficult to secure growth funding from traditional lenders. With the support and resources provided by FSE, SEEDL is poised for even greater success in the future and we look forward to working with our FSE Investment Manager as we continue to grow.”
FSE Investment Manager, Paul Smith, added: “SEEDL has developed an innovative offering and gained early traction, leaving it well-positioned to become a major player in its field. Its experienced management team and supportive investor base have been instrumental in driving growth to date and we are delighted to be joining them to help the business reach its full potential.”
The global online learning platforms market continues to grow and is expected to reach $325 billion by 2025. Learning technologies incorporating interactions, group work, and community building are shown to lead to more efficient learning, whilst COVID-19 accelerated the adoption of, and increased demand for online learning. SEEDL’s solution addresses the market need for remote and flexible learning options that also offer more personalised experiences.
Stephen Martin, Managing Director at Enterprise M3 LEP said: “SEEDL is clearly an impressive digital learning technology company delivering virtual training courses for businesses in 70 countries around the world. We are so pleased that through the EM3 Funding Escalator Fund we’re able to help support its ambitious expansion plans.
“While wishing Anthony and his team continued success, I’d also like to heartily congratulate SEEDL for winning its well-deserved New Business of the Year accolade, at the recent Hampshire Business Awards, which bodes well for this Hampshire business.”
The Enterprise M3 Funding Escalator is a £10million initiative funded by Enterprise M3 LEP. The escalator includes an expansion loan scheme, a short-term trade loan scheme and an equity growth fund and provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.