betterU Provides Business Update
- Launch of betterU’s Europe SaaS B2B platform
- Relaunch of India SaaS platform as a result of 1,272% increase in transactions for 2020
- Extraordinary $60,000+ profit from sale of certain claim rights
OTTAWA, ON / ACCESSWIRE / August 21, 2020 / betterU Education Corp. (TSXV:BTRU)(FRA:5OGA) (the “Company” or “betterU”) is pleased to provide the following update on its business.
2020 year-to-date the Company has seen a substantial increase in interest from companies and governments from North America, Europe, Africa as well as India. Over the last couple months, betterU has completed multiple proposals that if completed would result in the company’s profitability within 2020.
To effectively access some of the global opportunities, betterU has adapted its platform to support global markets and is now in the process of launching its European SaaS platform. The platform is expected to launch before the end of August 2020. As part of betterU’s growth strategy in Europe, the Company is also in the process of completing the set-up of its operating entity, located in Dublin (Ireland), that will support several initiatives including an opportunity for non-dilutive investment as well as several possible strategic partnerships.
betterU had also decided to advance its India marketplace after observing a significant 1,272% increase in registrations and transactions over the same period last year. Nearly 55,000 new users and 12,000 new transactions enrolled in both free and paid courses. While the revenues were only a few thousand dollars, the length of time users have been spending on the marketplace has validated the growing level of interest. To capitalized on this growth trend, the Company has recently launched their new retooled India platform that aligns with their new SaaS model and includes a reduction of content offered, focused exclusively on skills development.
The several thousand courses and assessments being provided in India will now be hosted exclusively by betterU and to drive more awareness, the company is going to launch a marketing campaign promoting their new platform targeting its over 129,000 Facebook followers from India. The Company has also simplified the user experience by centralizing the back-end infrastructure for content integration, user management and now any transactions or updates required to be made, would be completed by betterU Canada and instantly be applied to all global platforms. This will enable seamless skills development solutions for millions of learners globally and support the scalability the Company has been working to establish.
betterU’s focus on its current clients has been to ensure the effective development of the platform, the ability to scale through automation and has renegotiated many content partner agreements for inclusion in the Company’s new SaaS model. In addition, betterU has developed a translation platform to support content delivery in localized languages for global employees and has launched its customized development services.
betterU is planning to support upwards of over 2,000 client employees within Ready-To-Go in the coming months and to support these growing opportunities, the Company has been planning the addition of a national sales team focused on North America. The Company is expecting to roll out sales team by the end of August 2020.
On July 20th, 2020, betterU received a grant from Industrial Research Assistance Program in the amount of $32,524. Funds have been allocated to support Canadian employees. On July 31, 2020, betterU secured more than $62,000 in extraordinary profit through the sale of certain claim rights the Company inherited from a predecessor entity, which is unrelated to the business activities of betterU.
“2020 has turned out to be a promising year so far with the growth of excitement from our current clients as we advance our core products and the multitude of opportunities that continue to presence themselves. Our team has and continues to work exceptionally hard to advance corporate and government opportunities. The world has been forced to change due to COVID-19 and with remote learning, betterU will continue to advance our solutions to help support as many governments, companies, employees and students get access to quality, affordable, skills development programs. More updates will follow shortly”, said Brad Loiselle, CEO of betterU.
About betterU Education Corp.
betterU is an education-to-employment technology company offering an end-to-end solution leveraging business intelligence to automate skilling, reskilling and upskilling for companies operating on domestic and global scales. The Company supports the industry by providing them with everything an organization needs to launch and manage proper skills development programs so that they can focus on what really matters, their people!
Most companies spent too much time trying to source, integrate, customize and deliver fragmented skills development programs across their organization, when they should be focused solely on supporting their people. betterU’s integrated platform brings together the right technology, growing content library, customization, language options and is the most efficient affordable solution on the market. We don’t sell content, we help build better people.
For more information, please visit https://corporate.betteru.ca/corporate-gov/
Contact:
Brad Loiselle, CEO
1-613-695-4100
bloiselle@betteru.ca
betterU Education Corp.
Investor Relations
Email: ir@betteru.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: betterU Education Corp.
View source version on accesswire.com:
https://www.accesswire.com/602647/betterU-Provides-Business-Update
