Coassemble Sets Sights on Scale After Stellar Year
Coassemble is ready to take its online learning platform to DevLearn, the largest eLearning conference in the world, after a stellar year.
Coassemble is ready to take its online learning platform to DevLearn, the largest eLearning conference in the world, after a stellar year in which it has secured high-level investment funding and welcomed an experienced new CEO.
If you don’t already know, Coassemble is an Australian startup based in Newcastle, New South Wales, offering a cloud-based SaaS platform designed to simplify online training. The first of its kind, Coassemble combines an intuitive Learning Management System with an outstanding eLearning authoring tool to provide affordable and integrated training solutions.
Coassembles’ freemium subscription model has seen the platform’s MRR grow at a monthly rate above 10% for the last year, with more than 400 new users entering the platform each month. eCoach operates across both the B2B and B2C markets, with clients ranging from corporations providing mass-scale training through enterprise accounts, to individual consumers authoring small-scale eLearning content.
After a business analysis early in 2017, in which consulting advice from Barbara Brown, Capital Pitch, and PWC helped to streamline financial and growth targets, Coassemble underwent a heavily competitive pitching process, securing a number of investment term sheets.
Coassemble signed terms with IBSA, a well respected business executing a range of Commonwealth Government Contracts and educational resource provider from Melbourne, due to their strong educational focus and track record within the training industry.
The strategic alignment between IBSA and Coassemble, combined with IBSA’s investment into the product, has provided eCoach with excellent opportunities to scale an already profitable business and improve upon the strong growth the platform has seen for the past year.
This is no more evident than in the appointment of experienced new CEO Matthew Trounce to the helm of Coassemble in August 2017. Working closely with COO Ryan Macpherson and founder and CTO Jude Novak, Matthew’s storied career of business innovation within Australia’s training sector bodes well for the startup’s future.
In recent times, Coassemble has looked to add a spate of new hires to the business, with the team growing across all departments.
“Our board has strongly supported us in our quest to accelerate the growth of Coassemble. Collectively, the board has exceptional experience and knowledge of the international education market and saw eCoach as an extremely exciting product and business to invest in”, says CEO Matthew Trounce
2018 will see Coassemble adding an e-commerce marketplace to the app, allowing users to buy and sell their training content.