Last February, cloud e-learning provider Docebo raised $3m in growth equity from Canada based Venture Capital firm Klass Capital to accelerate the growth of its SaaS enterprise e-learning platform and fuel expansion into the North American market.

After only four months, Klass Capital decided to acquire Seeweb’s shares in Docebo. Seeweb is Docebo’s first angel investor.

“Obviously our top investor Klass Capital is very pleased with the pace of execution at Docebo,” said Claudio Erba, Docebo’s CEO and Founder.

“And, as Klass Capital makes its move, Seeweb makes a great exit,” he added.

Claudio Erba, Docebo's CEO.

Docebo has over 800 business-to-business (B2B) clients in over 80 countries worldwide (including Bloomberg Institute, Thomson Reuters, FreshBooks and Autodesk among others) and it is available in over 30 languages. The Company has offices in the United States, Italy and Dubai.

“Seeweb was the first to believe, and invest, in Docebo,” commented Antonio Baldassarra, Seeweb‘s CEO. “In fact, they used Seeweb Cloud Infrastructure during their transition to a SaaS business model. It only took a few years for Docebo to become a prominent international cloud software provider in the e-learning industry – which has paid off tremendously.”

Daniel Klass, President of Klass Capital added, “We are impressed with how rapidly the Company has been able to scale revenues internationally, and this trend is only growing stronger. That is why we have decided to increase our investment in Docebo and to commit additional budget for future M&A operations.”

Klass Capital is a venture capital firm targeting small software or web enabled post revenue companies. The company’s target equity investment size is between $2m and $10m. Klass Capital has a unique entrepreneurial culture and hands on approach that attracts an impressive roster of driven entrepreneurs. Klass Capital is based in Toronto, Canada and have a North American focus, with a primary focus on helping partners become world leading organizations.