Helsinki-based Seppo.io is boosting its growth with over one million euros in funding. With new shareholders, Seppo will also gain important experience in the internationalization of business.
Seppo (Lentävä Liitutaulu Oy) is the leading company specializing in the gamification of education in Finland. The new financing round will make it possible to accelerate the already promising growth in both Europe and Latin America. Currently, 35% of the company’s turnover is already being generated on the export market.
The principal investments in this round come from Finnish investors. The main investors are Almaral Oy, the financing enterprise ECO-Innovation and Sustainability Management Oy owned by Risto Vahanen, and the state-owned Oppiva Invest. The arrangements for this round were supported by Liquido Ventures Oy.
For the last few years, Seppo has been growing organically and reached its break-even point a couple of years ago. The newly received additional funding will double the growth figures. Growth is being sought in the international market in particular. The goal is to develop Seppo into a globally known gamification brand for corporate training.
Seppo has been successful with its gamification platform, offered as a SaaS platform, where any training or educational content can be turned into an interactive learning game. Seppo is used in around fifty countries all over the world, including businesses, educational institutions, and public organizations. The company's customers include the world’s largest educational publisher Pearson and Merlin Entertainment, known for operating the e.g. Legoland theme parks.
It feels great to receive more resources for growth. We have already proven that there is demand for Seppo on the market, and now we can raise our operations to the next level in a systematic way. Thanks to our investors for the financial and human capital they have provided. We have been preparing for the new growth leap in a determined manner for a couple of years now, says CEO Riku Alkio.
The situation in the corporate training market is extremely interesting, as there is plenty of competition for skilled employees. Particularly in Europe, the rapid turnover of the workforce generates costs and wasted resources for businesses. Committing employees requires investing in for example onboarding and improving the employee experience. Changes in corporate cultures also increase pressure toward renewing staff training methods. Seppo’s success indicates that enterprises simply cannot get stuck with old-fashioned training methods. Young employees (millennials) in particular, appreciate motivating and participatory ways of developing their competencies. Gamification is a proven way to motivate and commit skilled employees.
Lentävä Liitutaulu Oy is a company established in Helsinki in 2012 currently employing 17 persons, of whom 12 are in Finland, three in Brazil, and two in the Netherlands. Company turnover in 2021 was 1.1 million euros and it will increase to about 1.5 million euros in 2022. The company is strongly situated among Finnish educational institutions as well, but growth is now being sought for on the international business training market, which is going through a process of profound transformation.
Almaral Oy is no regular venture capital company. It creates value for its clients by answering the strategic and operational questions that startup or scaleup companies often face in their growth stage. The Almaral team has versatile business knowledge and a proven track record of growing international businesses profitably.