LatamList – The Stanford GSB Impact Fund recently invested an undisclosed amount in UBits, an online corporate training platform. This is the first investment in a Latin American business for the venture capital fund.
UBits offers over 400 courses in Spanish for corporate training across 10 countries in Latin America. The courses range from customer services to sales and much more. The startup has previously received $2.5M investment from YCombinator, Magma Partners, Spectrum28, and GE32.
“We are very happy that Stanford GSB has chosen to invest in UBits. We know it will be a great support as we continue to create high-quality content to train thousands of professionals in Latin America,” said Julián Melo, CEO of UBits.
The global pandemic has seen many people turn to online education for personal training as they work from home. UBits will use the funds to expand its range of online courses and to continue expanding in the region.
“The quality and relevance of the courses, the satisfaction of the clients, and the professional skills and ability of the Ubits team convinced us that this should be the fund’s first investment in Latin America,” said Daniel Uribe, an investor at Stanford GSB.
Read more on Forbes.