Knowledgemotion also enters multi-year supply and services agreement with Pearson
London, 21 June, 2016 – Knowledgemotion today announced that it has received strategic investment from ICG Ventures Inc., part of Ingram Content Group. The investment is ICG Venture’s first investment in a UK-based company, reflecting the considerable potential of Knowledgemotion’s business model.
Separately, Knowledgemotion has also entered a multi-year supply and services agreement with Pearson, the world’s largest learning company. Both announcements demonstrate Knowledgemotion’s rapid growth and the commercial opportunity it is targeting within the $5tn global education market.
Knowledgemotion is the creator of boclips – a platform that enables education providers to easily find, license and use video clips that they can embed into their teaching services. Partnerships with leading international content owners including Getty Images, Bloomberg, BBC Worldwide Learning and Associated Press Television News provides boclips customers with access to a high-quality, rights-ready library of 1.8 million video clips. This deep repository, now the largest video library for education in the world, provides a single point for all K-20, vocational, corporate and language learning video needs. Furthermore algorithmic matching of clips to different curricula across multiple markets allows course creators to easily find the most relevant video clip for the topic they are looking to bring to life.
In the 21st century, the traditional model of teaching is being radically changed. As with other industries, education is being transformed by digital technology. More students are working on computers and tablets, whilst teachers are increasingly using screens to illustrate aspects of their lessons. Learning continues to transform into an experience that includes online, interactive services that are timely and in-depth and allow learners to explore and go at their own pace.
Within this the potential of video to powerfully captivate and contextualise learning is just starting to be realised – with a Kalutra Inc survey finding 90% of students believe video improves the learning experience. Ingram’s investment in Knowledgemotion reflects the potential video has to engage the Netflix generation and ensure it is a component of ongoing learning.
“More of us at every stage of life are learning through digital technologies, and this trend is only going to accelerate in the years ahead. Video is fast becoming the natural medium outside the classroom and as the education sector digitises it has come to understand the crucial role video plays in making learning engaging and effective,” said David Bainbridge, CEO and founder of Knowledgemotion. “Ingram’s investment will help us realise our goal of becoming the global marketplace for education video. Its worldwide reach with a variety of different customers provides boclips with unparalleled distribution opportunities and we look forward to having Ingram with us on this journey.”
As part of the investment, David Roland, Investment Director for ICG Ventures, will join Knowledgemotion’s Advisory Board which already includes Sir David Arculus, former Non-Executive Director of Pearson Education and Chairman of O2.