SoftBank, Sumeru Lead $200 Million Funding in Learning Startup

(Bloomberg) -- Collaborative learning platform 360learning SA has raised $200 million from Sumeru Equity Partners, SoftBank Vision Fund 2 and Silver Lake Waterman, marking another major investment into a booming French startup industry.

Paris-based 360learning also received backing from existing investors including Bpifrance, XAnge and Educapital, according to a statement Thursday. The company declined to disclose its latest valuation. 

The education-technology startup is currently considering strategic acquisitions, founder and Chief Executive Officer Nick Hernandez said in an interview with Bloomberg. 360learning will also use the new funds to expand into the U.S. market.

“We found our product-market fit for the U.S. and wish to expand there,” Hernandez said. “We will go from 260 to 500 employees globally in the next 18 months, and our tech and product teams will remain in France.”

Global technology investors, led by SoftBank, have been particularly active in the French startup industry in recent months. SoftBank Group Corp. led the $680 million funding round in Sorare in September and the $200 million round in Swile. This year it has also invested in Vestiaire Collective and Contentsquare.

360learning has 1,500 customers, including LVMH, Michelin and Toyota Motor Corp., according to the statement.

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