HowNow Expands Series A Funding to £7.5m with Continued Support from Mercia Ventures
Deal News | Feb 14, 2025 | Mercia Fund Management (Mercia Ventures)
HowNow, an AI-powered learning platform, has extended its Series A funding round to £7.5 million. The round initially raised £4 million from Mercia Ventures and Pearson in February 2023, followed by an additional £3.5 million from the same investors, along with Fuel Ventures. Headquartered in London, HowNow's platform caters to over 30 countries, focusing on bridging skills gaps through contextualized learning. The latest funding is earmarked for further product development and AI integration, bringing the total capital raised by the company to nearly £11 million. HowNow's revenue has seen a substantial increase of 350% over the past two years, alongside significant customer acquisitions including TomTom and the UK Government. The company has expanded its workforce to 75 employees and continues to form strategic partnerships with HR technology providers. Michael Whitfield has been appointed as Chairman of the Board. The investment aims to support HowNow’s mission to upskill 10 million people by 2030.
Sectors
- EdTech
- Artificial Intelligence
- Private Equity
Geography
- United Kingdom – HowNow is headquartered in London, United Kingdom, and a significant portion of its operations and customer base are situated here.
- India – HowNow has an office in Mumbai, India, indicating operational activity within this geography.
Industry
- EdTech – HowNow operates within the EdTech sector, focusing on AI-powered learning and skills development for businesses and organizations.
- Artificial Intelligence – The use of AI in HowNow’s platform for mapping and measuring skills highlights the relevance of the Artificial Intelligence sector in this article.
- Private Equity – The involvement of investment firms such as Mercia Ventures and Fuel Ventures in the funding round associates the article with the Private Equity sector.
Financials
- £7.5 million – Total amount raised in HowNow's extended Series A funding round.
- £3.5 million – Additional funding contribution from Mercia Ventures, Pearson, and Fuel Ventures.
- £11 million – Total funding raised by HowNow to date.
- 350% – Percentage increase in HowNow's revenue over the past two years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HowNow | Target Company | Company | An AI-powered learning and skills platform expanding its Series A funding. |
| Mercia Ventures | Investor | Company | A private equity firm providing capital for HowNow's Series A funding. |
| Pearson | Investor | Company | A FTSE 100 education firm investing in HowNow's Series A funding. |
| Fuel Ventures | Investor | Company | A venture capital firm joining the Series A extension for HowNow. |
| Michael Whitfield | Chairman of the Board | Person | Previously CEO & Founder at Thomsons Online Benefits, now serving as Chairman of HowNow. |
| Nelson Sivalingam | Co-founder and CEO | Person | Co-founder and CEO of HowNow, leading the company's mission and strategic initiatives. |
| TomTom, MoneyBox, Bausch & Lomb, UKTV, Good Energy, UK Government | Customers | Companies and Government | Recent customers of HowNow, illustrating the platform's reach and sector engagement. |