Digital Marketing Institute makes grade with Spectrum Equity
14 September 2017 | 0
The Digital Marketing Institute has received a €26 million investment led by Spectrum Equity. The financing will fuel investment in the Digital Marketing Institute’s professional learning and certification programs, accelerating the company’s international expansion.
More than 18,000 professionals in 115 countries having completed the Institute’s programmes since 2014 on the back of strong uptake of its online and corporate learning programmes and licensed courses offered via a network of international education partners.
In conjunction with the investment, Adam Margolin and Parag Khandelwal of Spectrum Equity will be joining the Institute’s board of directors. Ted Weissberg, former CEO of ACAMS which was acquired for $330 million last year, will join the board as executive chairman and work closely with CEO Ken Fitzpatrick and the rest of the team on a global expansion strategy.
“There is an urgent need for digital marketing and digital sales education for professionals,” said Margolin. “The Digital Marketing Institute is uniquely positioned to address this growing global skills gap through its innovative, industry-validated certification programs. We are excited to partner with Ken Fitzpatrick, Ted Weissberg and the rest of the Digital Marketing Institute team as we look to scale the business globally and build the leading training and certification provider for sales and marketing professionals across all industries.”
Ken Fitzpatrick, CEO, Digital Marketing Institute (pictured), said: “While we are very proud of the international growth achieved by the Digital Marketing Institute to date through self-funding, we recognise the potential scale that can be realised with investment. Spectrum Equity has a great track record in EdTech and digital marketing technology spaces, and with Ted Weissberg’s significant experience scaling a similar professional learning and certification business, I’m confident this is the right investment partnership to realise our global ambitions.”
Spectrum Equity’s previous investments include Lynda.com, SurveyMonkey and Bitly.