Paragin backed by Main Capital Partners acquires mathematics software specialist SOWISO

Paragin, a leading education technology today announces that it is partnering with leading mathematics software specialist SOWISO. The collaboration is backed by software investor Main Capital Partners.

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Main Capital Partners
24/03/2022

The Hague, 24 March 2022 – Paragin, a leading education technology (“EdTech”) software company based in the Netherlands that provides solutions for the development of competency, knowledge and talent of students and professionals, today announces that it is partnering with leading mathematics software specialist SOWISO. The collaboration is backed by software investor Main Capital Partners (“Main”).

SOWISO is well known for its innovative learning platform that focuses on educational subject matter including science, technology, engineering, and mathematics (“STEM”). The combination of Paragin and SOWISO represents the first add-on acquisition for the buy-and-build strategy of the EdTech group since Paragin started its collaboration with Main in 2021.

Together, the aim is to build Paragin into a pan-European market leader that optimises the ability of its customers to map, develop and assess the knowledge, skills, and competencies of their end-users.

The SOWISO platform was created by software developers and authors of mathematical learning programmes. SOWISO identifies and integrates complex mathematical problems into a user-friendly software environment. Following the completion of digital courses on the learning platform, students can get real-time personalised feedback on their answers, in order to accelerate their mathematical skills development and understanding.

SOWISO also offers standardised and secure online admissions tests called OMPTs (“Online Mathematics Placement Tests”) which students can use to demonstrate their math proficiency to colleges and universities across the world. This also means that international students no longer have to travel the globe to complete their admission processes, making it a much easier and straightforward entry process. Universities benefit from a more efficient assessment of the mathematical proficiency of prospective students.

Paragin and SOWISO together form an international leader for assessment and examination software covering multiple vocations and higher education sectors. In addition to its existing position as a market leader in the Netherlands, the Group has successfully developed a growing international client network, servicing approximately 200 organisations across the Benelux, Nordics, UK, and APAC regions.

Marc Habbema, CEO at SOWISO, commented:
“In Paragin, we have secured a partner who shares our values and our vision for putting the student first in all we do. We will combine our innovative solutions to further support the needs of the educational landscape. We felt a true connection with the Paragin management team from the beginning of this process and we are very excited about this partnership moving forward.”

Jeroen Bakker, CEO at Paragin, added:
For many years, SOWISO has been a front runner in mathematics related learning and assessments. We are thrilled to embark on the next chapter of exciting growth together with SOWISO. There is much to be learned from each other in how we best serve our respective international customer bases. We also share many core values. First and foremost, we both always seek to act in the best interests of the student. With a combined product proposition, we can truly offer tremendous value for our customers and look forward to unearthing new ways to add even greater value together.

Sjoerd Aarts, Senior Investment Manager at Main and Chair of the Supervisory Board for Paragin, concluded:
Main has a long and successful track record as an investor in the broader learning market both within the Benelux as well as our other core geographies. We view EdTech as an exciting and dynamic market segment, expected to grow by around 20% per year as multiple vendors continue to find new and innovative ways to digitise and automate education. With Paragin, we are building a Group that optimally positions its clients to fulfil the ever-growing need to carefully map and organise the development of people and the youth of today.

Paragin
Paragin is a leading provider of software for the development of competencies, knowledge and talent in large and small corporations and educational institutions. Paragin offers smart products that each support a specific element of the development process of the end-user, including software for assessments, examinations and certifications with its RemindoToets product, career development and e-portfolio’s. Paragin offers user-friendly, efficient and visually appealing solutions, which are suitable for domestic and international clients. Paragin has more than 30 employees and is based in Nijkerk, the Netherlands.

SOWISO
SOWISO, founded as a spin-off from the Technical University of Eindhoven, is an innovative e-learning and assessments provider for STEM-students. With a customer base of over 50 universities and educational publishers spreads across the globe, SOWISO guides an international population of students in the development of their mathematical skills. SOWISO’s 30 employees are based in the Science Park in Amsterdam.

Main Capital Partners
Main Capital Partners (“Main”) is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 50 employees and has offices in The Hague, Stockholm and Düsseldorf. As of October 2021, Main has over EUR 2.2 billion of assets under management. Main has invested in more than 130 software companies to date. These companies have created jobs for approximately 4,000 employees.

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