RSBC has acquired a stake in the British technology education company Proversity
RSBC has acquired a significant minority stake in Proversity, a British technology education company engaged in recruiting employees and developing their professional skills. The GBP 1m acquisition puts RSBC alongside Telefónica, a Spanish telco, which also invested in the project through its Wayra fund. The Parties have agreed not to disclose further details of the transaction.
The strategic objective of the transaction is an investment in a company which occupies a unique position in the educational technology market. Proversity is a London-based startup company established two years ago. Proversity originally started its business within the framework of the Google Campus in London, attracting attention of Telefónica’s Wayra venture capital fund. The company provides a digital platform addressing the mismatch between graduates’ skills and employers’ requirements. Its clients include e.g. the Bank of England, Lloyds Bank, Network Rail and others.
Last October, Proversity won a British Global EdTech Startups Award, which made it one of Britain’s most promising educational technology startups providing breakthrough learning solutions. Richard Branson, a British entrepreneur and billionaire, highlights the advantages of our co-owned Proversity on both his Twitter and the official Virgin website. The ceremonial signing of the contract between Proversity and RSBC took place with the participation of a member of the British royal family, His Royal Highness Prince Andrew, Duke of York.
“Proversity will use the investment to boost its further growth. It will focus on key processes of recruiting people into sales, financial and technology teams, it will develop a technology platform, a user interface and facilitate important technological advances,” says Chris Kottnauer, RSBC Group partner. From the RSBC’s perspective, this is the first venture capital investment aimed at diversifying the group’s portfolio. RSBC Group CEO, Robert Schönfeld, will hold the position of a Board Member at Proversity.