Cape Town-based education technology startup Digemy has raised R1 million (US$68k) funding from existing investor Greenwold Capital, a firm which primarily invests in real estate.
It is Greenwold Capital’s second round of funding in the startup. The firm has invested R2 million in the startup in 2017. The new funding has raised Digemy’s total valuation to R40 million (US$2.7 million).
Founded in 2016 by Carl Wallace and Kobus Louw, Digemy provides educational training solutions to organizations with focus on building and retaining knowledge, rather than the consumption of learning material. The platform empowers and provides organizations with in-depth insights into the knowledge levels of their employees, from course-level to the most granular level of every syllabus, to unlock higher performance potential.
Digemy delivers training content in bite-size chunks on a learning plan tailored to each individual. The company fully mobilizes learning by delivering course content in text, audio and video format on mobile, tablet and PC. Users can learn from micro-modules while on the move or waiting for appointments.
The company said that the new funds will be used to expand its team, pursue entrepreneurial development, and to roll out its besmarta platform, a financial literacy service.
Besmarta provides learners with access to micro-learning modules and quizzes that aim to decrease financial stress and help them gain financial independence.
Digemy is currently partnering with corporates to roll out its besmarta platform in their organizations. The startup is also helping organizations to create their own online academies to assist in employee and consumer education solutions. They also create specialist courses and offer their platform as a Software-as-a-Service (SaaS) solution.
It is reported that Digemy had signed four listed companies, including pharmaceutical giant Cipla and transaction capital’s software firm Principa, as clients, and had grown its valuation five times in the last 18 months. The startup has also finished a proof of concept with one of the top banks in South Africa, and is said to be currently working to conclude a deal with Deloitte. Digemy has also partnered with Kevin Horsley, New York Times best-selling author to develop and launch an app that helps children memorize times table.
Needless to mention, Digemy was placed in the top five for the Best Enterprise Solution at the AppsAfrica Awards in 2018, won an MTN Business App of the Year award for their besmarta solution, and has now been named second best tech startup in Africa in 2019, according to Africa Tech Week.