Edtech company HowNow has received £4m in a Series A funding round from Mercia Asset Management and education firm Pearson.
Founded in 2016, the edtech startup is used by businesses such as Depop and Checkout.com to upskill their employees. Its platform includes a dashboard for companies to “track growth and skills progression” of its workforce, and create personalised learning programmes to close skill gaps.
Nelson Sivalingam, CEO and co-founder, HowNow, said: “In the era of exponential change, equipping people with the knowledge and skills to be successful at what they do at speed is one of the biggest challenges we face. Without such continuous development, individuals and organisations risk becoming socially and economically obsolete.”
London-headquartered HowNow will use the extra capital for continued expansion overseas, hiring, and developing features for its software. Its Series A builds on a seed funding round led by Fuel Ventures back in 2019.
“HowNow’s dynamic matching technology ensures users receive the right learning content at the right time,” said Daniela Tsoneva, investor at Mercia.
“The company is a pioneer in the relatively new but fast-growing learning experience sector and has the potential to become a market leader.”
Investor Mercia Asset Management has a presence across the UK with offices in places such as Bristol, Manchester, Nottingham, Leeds and Newcastle Upon Tyne.
In 2022 it invested more than £120m into businesses around the UK.