Simplilearn acquires Market Motive for $10 million. Market Motive founded in 2007 by Michael Stebbins, John Marshall and Google’s digital marketing head Avinash Kaushik. Simplilearn and Market Motive were having tie up on content sharing from 2014.
Bengaluru based Simplilearn helps professional across the globe realize their dream careers. The company caters to professionals across industries and functions. Simplilearn provides training content, blended delivery model and next generation customer experience. The company has study centers across globe. Simplilearn offers 200+ certification courses in Project Management, IT Service Management, Microsoft Certification, Quality Management, Financial Management and much more.
With the acquisition of Market Motive, Simplilearn will augment their product portfolio apart from leveraging Market Motive’s reach in North America. Market Motive offers solutions to working professionals and college grads who are trying to advance in their careers.
Market Motive will remain independent part of Simplilearn. Market Motive courses and certification provide commendable and authoritative cross training in SEO, web analytics, social media marketing, mobile marketing, conversion optimization and content marketing.
Chief Executive Officer of Market Motive, Michael Stebbins will remain as head of the company along with entire team of the company. However he joins Simplilearn as Chief Innovation Officer and closely works with Simplilearn US Director of Operations, Prashant Parmar.
Simplilearn claims to have helped over 400,000+ professionals in 150 countries generation an estimated $4 billion worth of pay through its training programmes. In a statement Krishna Kumar, founder and Chief Executive Officer of Simplilearn “Our focus continues to be providing a wide range of short-term certification-based courses that have a direct impact on the learners’ career.” He further added “The digital marketing ecosystem is at the tipping point and this is the right time for us to expand our products in this hot segment.”
Simplilearn has raised $28 million from leading PE investors such as Helion Venture Partners, Kalaari Capital and Mayfield Fund. They raised funds during April, 2012 for Series ‘A’ for $3 million followed by Series ‘B’ funding of $10 million in Sept 2013. In Apr 2015, Simplilearn raised their Series ‘C’ funding of $15 million.
Navin Chaddha, Managing Director of Mayfield believes that digital marketing is a key growth strategy for most organizations today and is driving the demand for certified professional across the industry. Short term online courses that position the participant as an expert are the future of professional education. He further believes that Market Motive adds a fast growing online marketing training vertical to Simplilearn as they a demand for e- learning expected to exceed $169 billion by 2018.