Press release
2 December 2022
Edenred Capital invests in 5Mins AI, the "TikTok-style" learning platform
The Edenred Group has invested in 5Mins AI, via Edenred Capital, its venture capital arm.5MinsAI is a gamified learning platform reinventing employee upskilling through a "TikTok-style" mobile-led experience. Edenred Capital invested in this seed round alongsideAlbionVC. This investment aims to drive 5Mins AI's product development and expand its global customer base.
5Mins AI is a UK-based company founded in 2021, providing short-form learning for companies via a mobile app that delivers personalised, micro-sized videos in TikTok format, promoting continuous learning.
The platform features 15,000+ bite-sized lessons from 150+ educators and coaches worldwide covering 100+ essential technical and power skills for the workplace. Since going to market in March 2022, more than 100,000+ lessons have been watched on the platform and 5Mins AI's annual recurring revenue has grown 20x.
Edenred Capital has a track record in corporate learning, having already invested in Fuse Universal, a training platform specializing in user generated content to large companies.
Philippe Dufour, co-founder and Managing Partnerof Edenred Capital, says:"For more than 10 years, Edenred Capital continuesitslong term goal of supporting entrepreuneurial teams that are delivering first class solutions in the B2B2E market. 5Mins AI provides a journey towardsshort-form, gamified and more efficient corporate learning.Workplace learning has evolved to become a must-have to help businesses drive innovation while improvingemployee attraction and retention. We are convinced that 5Mins AI is well-positionned to conquer this promising, yet underpenetrated market, thanks to a top-notch technology platform and an experienced team."
Saurav Chopra, founder and CEO of 5Mins AI, says:"We are delighted to have Edenred Capital as an investor and are looking forward to collaborating with Edenred to open new geographies and enhance our value proposition."
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About Edenred Capital Partners:
Edenred Capital supports European technology entrepreneurs with long-term capital and scale-up expertise. Its investment scope covers Fintech, Commerce Tech, Future of Work and Professional Mobility. Edenred Capital provide its portfolio companies with pragmatic recommendations and helpful introductions to support them as they grow. Edenred Capital is the corporate venture arm of Edenred SE (listed on the CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe indices) and maintains an independent Venture Capital governance.
https://www.edenredcapital.com
About Edenred
Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting 52 million users and more than 2 million partner merchants in 45 countries via 950,000 corporate clients.
Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards).
True to the Group's purpose, "Enrich connections. For good.", these solutions enhance users' well-being and purchasing power. They improve companies' attractiveness and efficiency,and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.
Edenred's 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.
In 2021, thanks to its global technology assets, the Group managed close to €30 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.
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CONTACTS
| Edenred Matthieu Santalucia Tel. +33 6 83 54 12 10 matthieu.santalucia@edenred.com (mailto:matthieu.santalucia@edenred.com) | Edenred Capital Partners Oscar Hoare Tel. +44 77 89 22 87 96 oscar@edenredcapital.com |
Attachment
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