Edtech OpenLearning hones in on SaaS sales as it executes turnaround strategy

Nine months after announcing a strategic review, edtech OpenLearning (ASX: OLL) has kicked its turnaround strategy into gear as more education providers embrace its Service-as-a-Software (SaaS) platform.

The Sydney-based company announced its SaaS customer base grew by almost a quarter year-on-year to 245 in the December half, while revenue for the segment rose by 15 per cent to hit $1.64 million.

As part of its overhaul, the group is focusing on growing its subscription platform in new and existing markets, in addition to capitalising on a partnership forged four months ago with the Education Centre of Australia (ECA), which pumped $1.1 million into OLL in exchange for a 10.7 per cent stake.

Read More: https://www.businessnewsaustralia.com/articles/edtech-openlearning-hones-in-on-saas-sales-as-it-executes-turnaround-strategy.html