Stukent, a digital courseware provider, has recently announced that it has received a significant growth investment from Tritium Partners, a private equity firm focused on technology and services companies with exceptional growth potential.
The company, however, did not disclose the amount of the new investment.
Stukent said that the new funding will allow the company to expand its industry-leading simulations and courseware into subjects beyond marketing and increase production speed. The company said that it will use the new investment to further its mission of helping educators help students help the world.
Founded by Stuart Draper, Stukent is revolutionizing the digital courseware space. The startup provides cutting-edge simulations and courseware to help educators help students help the world. Its simulations and courseware are currently used by over 4.8 lakh students and 9,000 educators in more than 5,700 institutions across 74 countries, and the company said the number is rapidly growing every day. Stukent claimed that in 2021 it achieved the rare feat of being on the Inc 5000 list four times in a row, something that is awarded to less than 5% of companies in the world.
Commenting on the new funding it received, Stukent’s Founder and CEO Stuart Draper said in a statement,
"Tritium’s investment will help create an impact beyond growth at Stukent. Professors and students across the globe are going to benefit from this partnership. As we venture deeper into the marketing space, and into new subjects completely, we will take the opportunity to radically innovate traditional education. That means more courseware, more simulations, and more resources for our customers."
With a historical focus on transformative subjects like digital marketing and social media marketing, Stukent said the company is now expanding its product offerings into other core business disciplines including accounting, economics, finance, and supply chain while continuing to build out more marketing courses.
Matt Bowman, the Managing Partner of Tritium Partners, said,
"Stukent is on an exciting growth trajectory and is poised to be a huge disrupting force for legacy textbook publishers. There is a better way for students to learn and gain real-world experience, and our investment in Stukent will help instructors do just that through powerful simulations and engaging courseware."
In addition to the growth investment by Tritium Partners, Stukent also welcomed Tim McEwen as its newest board member. McEwen joined the team with years of experience in advising innovative education technology companies on the development of new learning models/platforms and go-to-market strategies.
Expressing his excitement of joining Stukent, McEwen said,
"I am incredibly impressed with how Stukent's online simulations pair with its courseware to create an immersive, fully interactive, and engaging experience for learners. Having participated in the evolution of learning over the last 30+ years, I am thrilled to be joining Stukent and to be playing a part in its next phase of helping professors impact student outcomes through solutions that actually engage today’s learners and prepare them for success in today’s fast-moving business world, driven by digital transformation."
Stukent said the new partnership will allow it to accelerate its ability to help educators help students help the world in new and exciting ways.