Amsterdam’s power skills training provider Lepaya has raised $40 million in a Series B round. With its upskilling offer, the company aims to provide enterprise and fast-growing companies with a more productive workforce. The new investment will allow the company to further establish its market position, building upon the 2020 acquisition of crosstown rival Smartenup, and has a series of purchases planned for the UK, Germany, and Nordic markets. The funding will also help drive the continued development and refinement of the firms’ product lineup. Founded in 2018, Lepaya has now raised a total of $47 million in funding.

With an estimated $370 billion on the table, the global training and development sector is no small ticket item. And this figure is only expected to increase, as according to the World Economic Forum’s 2020 The Future of Jobs report, 50 percent of all employees will need reskilling by 2025.