Ufi Ventures Bulletin:
Summer 2022

The latest insights in EdTech for adult skills for work

It’s been a busy first half of the year for Ufi Ventures, with new investments and further investments into our existing portfolio.  

The VocTech market is not immune from global trends, with valuations in the public markets falling and investment into later-stage private companies slowing down. However, we continue to focus on stimulating the VocTech market, which remains under-invested, with a strong demand for better learning provision and an inherent need to support upskilling and reskilling in many sectors of the economy.
 

Before we jump in, please be sure to follow us @ufiventures on LinkedIn and Twitter for regular updates on what we're up to.

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INVESTMENT NEWS

Ufi Ventures announce investment into Mobilise

Mobilise, a digital platform providing access to knowledge, expertise and skills for the 13.5 million unpaid carers in the UK, has secured investment from Ufi Ventures as part of a £400k funding round.

With one in five carers finding that they need to stop work to care for loved ones, Mobilise’s service is crucial in helping people to better cope with their role as a carer while also maintaining employment.

In the video below, watch Helen, Director of Ufi Ventures, chat with Mobilise Co-founder James Townsend about the drive behind setting up the Mobilise platform and their aspirations for the future of the business.

NEW REPORT:
The Jobs Frontier 2022

Ufi Ventures and Tyton Partners have published a new report reviewing the 2021 EdTech investment landscape and exploring what this means for 2022.

Leveraging data from expert interviews, proprietary market intelligence and analysis the report explores the challenges facing workers and businesses of the future; the market landscape for vocational technology; scenarios and indicators for the coming year, and strategic implications for investment in the sector.

PORTFOLIO UPDATES

SonicJobs Founder joins TATech top 100

Mikhil Raja has been included in the top 100 thought leaders working in Talent Acquisition in 2022.

The list, compiled by the Association for Talent Acquisition Solutions, recognises those people who are setting the agenda for innovation and understanding in talent acquisition strategy and management, and talent technology.

MARKET INSIGHTS

Market activity

HR Tech funding and M&A has witnessed yet another flurry of activity, although talk of recession has seen investors pulling out of some rounds in some cases. Big, established players made moves to consolidate their positions with associated deals in upskilling, employee wellbeing, coaching, gig economy enablement, corporate learning, talent recruitment and bootcamps. One of the most significant deals of the quarter was Velocity Global, a global talent recruiter’s $400m Series B round – an indicator that investors are still betting big on global and remote recruitment to help solve labour shortages. 

Another significant deal during the quarter was a $200m raise from Multiverse, an apprenticeship and upskilling platform (and, at an early stage, a recipient of a Ufi grant).

Macro insight

Worker shortages have persisted across various sectors with organizations struggling to find skilled labour. However, there were several layoffs in the tech sector, particularly by companies who recently went public or had large seed and early series rounds with high valuations (which have dropped in most cases). 

Unions have been active: they have formed in new and unexpected places and have threatened (and in some cases called) strike action in protests over wages and conditions as workers demand higher pay to match the rise in the cost of living. 

Despite some activity, general investor appetite seems to have dropped during the quarter with the number of deals in HR tech in the US, UK and Europe dropping by 19%.

Useful content

Read...

Ufi VocTech Trust Annual Review of 2021
Our Annual Review looks back on our achievements across 2021: convening conversations and forming partnerships that have the power to change the role of technology in adult skills development; supporting projects that demonstrate its impact; and investing in companies who are changing the vocational technology market.

Brighteye Ventures: Half Year European Edtech Funding Report

Listen to...

VocTech podcast
What is skill and why should we measure it? Hear from Sharath Jeeven OBE, Intrinsic Labs; Abby Gilbert, Institute for the Future of Work; Amelia Peterson, The London Interdisciplinary School;
Christopher Mallet, Bodyswaps; and Jessica Blakey, Head of Assessment Innovation, NCFE

Register...

Brighteye EdTech Festival: 5 – 9 September 2022
Our friends over at Brighteye Ventures have just announced the programme for their Edtech startup Festival; bringing together industry experts and leading Edtech operators for a week of digital events. Registration is open now.

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