HomeFundingGerman startup Masterplan.com raises €13 million to expand its B2B edtech software

German startup Masterplan.com raises €13 million to expand its B2B edtech software

Today learning platform Masterplan.com has announced raising 13 million total funding, with existing investors only participating in the round. With the additional capital, 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.

Founded in 2017, Masterplan is a learning platform for companies that makes workplace employee training easier and more engaging than ever before. The startup is looking back on a very successful 2020; like other edtech startups, the company came out on top of the pandemic and tripled its revenue year-on-year. Now 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,’ said 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 focus on the development of our software, to become the most intuitive and most flexible solution for all our customers’ needs.’

The fresh funds marks their second mid-seven-figure convertible loan within one year. Both convertibles were raised with existing investors only and sum 13 million in total. As well as expanding its software, Masterplan plans to use the funding to continue 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, formerly of Trivago, 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,” said 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.”

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Charlotte Tucker
Charlotte Tucker
Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.

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