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Sydney-based OpenLearning (ASX: OLL) has made its first foray into the Brazilian market through a three-year reseller partnership with education technology distributor Learnbase, building on its global presence and a string of recent contracts secured in the Philippines and Australia.
Under the agreement, Learnbase will offer OpenLearning’s learning management system (LMS) as part of its portfolio of edtech products, which include learning platform Coursera, plagiarism check service TurnItIn, real-time student information platform PowerSchool and other tools.
Unlike deals secured over the last few months, Learnbase has no minimums payable and is offering no guarantee that OpenLearning will capture customers in Brazil.
Despite that, OpenLearning is optimistic it will be able to take advantage of one of the largest opportunities for edtech globally, with Brazil having more than 8 million higher education students and a growing demand for digital solutions from 2,595 institutions.
“Brazil is one of the largest and most exciting education markets in the world, but it is also a challenging one to enter directly. By partnering with Learnbase, a trusted distributor, we can efficiently bring our AI-powered learning management system to universities and enterprises across the country,” OpenLearning CEO Adam Brimo said.
“This agreement builds on our success in the Philippines and reinforces our strategy of entering new markets by working with leading local partners who deeply understand the needs of learners and educators.”
In a half-year FY25 investor presentation, the company highlighted 14 consecutive quarters of year-on-year SaaS annualised recurring revenue (ARR) growth, which recently reached 22 per cent, generating $2.62 million.
The latest deal comes almost two weeks after OpenLearning secured a five-year agreement with Philippines-based Systems Plus College Foundation, a comprehensive education provider, which agreed to use the company’s AI-powered LMS across all of its institutions. The deal secured a minimum $150,000 for the edtech provider, with the potential for additional revenue based on usage.
Before that deal was finalised, OpenLeaning secured a $340,000 agreement with another Philippines-based institution, the Cebu Institute of Technology University (CIT), to utilise the company’s LMS across all faculties and programs for five years.
The edtech has also made strides in Australia, landing a five-year $155,000 contract in July with the Education Centre of Australia to supply its LMS software to 2,500 students, with the potential for additional revenue based on usage.
In total, more than $1.5 million in SaaS contracts have been signed in the last three months across three key markets: Australia, Malaysia and the Philippines. OpenLearning said it expects ARR growth to continue in Q3 FY25.
This builds on the edtech’s previous moves to grow and expand, having acquired three online higher-education marketplaces in a $300,000 deal with Prosple in early 2024.
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