Why Ring invested in LiveMentor?
Because technology is reshaping all the industries, we need more than ever to train people and help them improve their skills. Edtech is part of the solution to this growing need. This is why Edtech is a powerful global trend where we want to invest.
Within this booming market, some players are leading and Livementor is one of them. Livementor’s mission is to train people to become entrepreneurs and/or to be part of the emerging “passion economy.” Passion economy is a quite new concept but is deeply rooted in reality. It is defined as an economy built around “creators with a purpose” — people who are powerfully motivated to start a brand, business, or community, usually on digital platforms, around a shared passion. In the US, Hello My Tribe is an example of a passion economy company. And we can see that Covid-19 crisis undoubtedly stimulated the passion economy by giving time to everyone to think of its career, its life work balance, etc.
Since their creation in 2012, LiveMentor built a strong brand and trained ca. 6 000 people per year and helped them to start a new business or to change their career path. They created many courses but based on a unique methodology, the Livementor Methodology®, and a mentorship program.
We have known Livementor for a while. We have seen their ups and downs firsthand and how they overcame their own challenges, when full online education was not obvious and entrepreneurship was not embraced in France as it is now. We were impressed by the way they went through the Covid crisis and used this opportunity to scale their business.
The French training market, estimated to ca. € 32bn, has been for a long time inefficient since courses didn’t match with people’s expectations, and this is even more true for people who want to start a new business. These people want more than just courseware — they seek advice, feedback, and concrete examples and not on theoretical learnings. While technology brings new tools and new ways to train people, we think it’s a perfect time for disruptive players like LiveMentor with its dedicated entrepreneurial focus and mentorship approach.
A strong management team led by an outstanding and complementary duo -Alexandre and Anaïs, a booming market, a smooth running sales machine and great unit economics are some of the reasons why we decided to invest in Livementor. They have a high ambition and we want to help them to achieve it: becoming the place where people learn how they can live from their passion! They can count on LiveMentor to be their online training reference brand.
