California-based online learning startup EdCast has announced the acquisition of online sales training company Sales University, previously known as WAGmob, for an undisclosed amount.
Sales University, which develops sales training apps used by salesmen and enterprises was founded by former Microsoft engineering executives, and is headquartered in Seattle, US and Indore in India.
This comes as the first acquisition of the education platform after closing a $16 million Series-B funding led by GE Asset Management and Softbank Capital just a month ago. This demonstrated significant growth in EdCast knowledge network adoption at Fortune 500 companies.
“Besides innovative features like video role play and product training, Sales University provide access to some marquee influencers like Tom Hopkins and Ken Thoreson. Most importantly, they have the best mobile-first sales training app that we could find,” said Karl Mehta, founder of EdCast.
Although the terms of the deal were not disclosed, Sales University went ahead listing the feathers in its cap, claiming to have trained over 100,000 sales professionals through its platform. It counts Google and Samsung among its biggest clients in the US, besides Snapdeal in India.
Kalpit Jain, co-founder & CEO of Sales University, said:
“EdCast is leading the new category of Knowledge Network for enterprises across industry verticals and job functions. We are thrilled to be part of this fast growing market leader in an exciting space that can help the digital transformation of enterprises worldwide.”
According to Jain, the platform’s live role-playing and smart buy features would help it withstand the raging competition. The live role-playing feature brings in a mobile-first interaction for sales executives with a live audience where they get to practice their sales skills. This includes 30-second pitches to buyers and receiving immediate feedback.
Marking the beginning of this new journey, Mehta said, “Access to curated and personalized knowledge based on the roles and job function is the new competitive advantage in the rapidly changing knowledge economy.”
“Sales University is the leading innovator in the Sales training category and we are excited to have their platform, customers and team to join the EdCast Knowledge Network,” he added.