News | Bertelsmann Investments | Gütersloh, 03/31/2025

Bertelsmann Investments Reports Organic Growth of More than 59 Percent in 2024

  • Revenues increase to €563 million
  • EBIT rises to €85 million
  • Strong acquisition-driven expansion in fast-growing HR Tech and Pharma Tech sectors
  • AppLike Group achieved organic revenue growth of 180 percent
  • 58 new and follow-on investments in 2024
  • Portfolio currently comprises 379 active investments worldwide
  • Carsten Coesfeld: “2024 was a very successful business year.”

Gütersloh, March 31, 2025 – Bertelsmann Investments (BI) had an excellent financial year in 2024. BI’s revenues, which mainly reflect Bertelsmann Next’s activities in HR Tech, Mobile Ad Tech, and Pharma Tech, increased by 30.4 percent to €563 million (previous year: €432 million) despite the sale of DDV Mediengruppe during the year. Organic growth was at 59.5 percent, fueled in particular by the AppLike Group. Adjusted Operating EBITDA improved to €75 million (previous year: €21 million). EBIT, which essentially reflects the business development of BI’s venture capital organizations, improved to €85 million (previous year: €-219 million). The prior-year figure was primarily influenced by market-related investment write-downs and negative currency effects.

Bertelsmann Investments CEO Carsten Coesfeld said: “2024 was a very successful business year for Bertelsmann Investments, with a strong financial performance. The AppLike Group in particular contributed substantially to this with its strong expansion. Our growth unit, Next, is growing significantly – thanks in part to the organic and acquisitive expansion of HR Tech and Pharma Tech – and is already making a relevant contribution to Bertelsmann’s growth. At the same time, we made good progress in expanding our regional fund activities in 2024, particularly the growth market of India. So we fully achieved our strategic goals last year – to drive forward the development and expansion of new businesses and the regional diversification of the Group’s portfolio.”

Within BI, the Bertelsmann Next growth unit drives entrepreneurial development mainly in the growth sectors Mobile Ad Tech, HR Tech, and Pharma Tech. Bertelsmann Next also includes venture capital investments in fast-growing Digital Health sector. The mobile ad tech company AppLike achieved organic growth of about 180 percent in the reporting period, in particular through the acquisition of new customers, growth with existing customers, and product expansions. The HR tech company Embrace saw strong growth, partly due to the acquisition of the HR solutions provider Milch & Zucker. In addition, the acquisition of Vocanto, an e-learning platform for commercial and industrial apprenticeships, was announced with effect from January 1, 2025. The Pharma Tech segment saw the acquisition of Extedo, a leading provider of software solutions and services in the field of regulatory information management, and a follow-on investment in Docuvera, a company specializing in the structured development of pharmaceuticals.

In the Digital Health Ventures segment, BI further expanded its investments in companies including Doccla and Deepc, and made new investments in the start-ups Ataraxis AI and PI Health.

Deniz Pielsticker, CFO of Bertelsmann Investments, commented: “Our ‘Next’ businesses grew profitably in 2024. We are planning further organic and acquisition-driven growth initiatives for 2025. Our venture capital activities saw an appropriate ratio of new investments to returns last year. For 2025, we expect both higher investments and returns. India will be a focus of expansion.”

BI made 34 new and 24 follow-on investments in innovative companies and funds via its venture capital funds and the Next unit in 2024. At year-end, the active portfolio consisted of 379 investments around the world. BI has invested a total of around €1.9 billion in companies and funds since its launch in 2006. Returns in the same period amounted to around €1.4 billion.

Bertelsmann Asia Investments (BAI) further expanded its investments in Stori, one of Mexico’s leading neobanks with a valuation of more than €1 billion in the last financing round, and the augmented reality developer Viture. BAI also managed several successful exits.

Bertelsmann India Investments (BII) made a new investment in Univest, a robo advisor for private investors in India that provides trading recommendations for shares and derivatives. During the reporting period, BII also made further new investments in the online retailer Rozana, which gives around one billion people access to affordable food in rural regions of India, and in Basic Home Loan, a technology-driven marketplace for mortgage loans. Follow-on investments were made in companies including the logistics platform LetsTransport.

Bertelsmann Central Investments made further fund-of-fund investments and acquired a stake in the Paris-based global generative AI company Mistral AI, among other activities.

About Bertelsmann Investments
Bertelsmann Investments (BI) comprises Bertelsmann’s global venture capital activities as well as the Bertelsmann Next growth unit. The venture capital arm includes the funds Bertelsmann Asia Investments (BAI), Bertelsmann India Investments (BII) and Bertelsmann Digital Media Investments (BDMI), as well as selected fund and direct holdings in markets including Europe, the United States, Brazil, Southeast Asia, and Africa. The Bertelsmann Next unit advances the entrepreneurial development of new growth sectors and business areas, including HR Tech, mobile ad tech and Pharma Tech. To date, around €1.9 billion has been invested in about 500 innovative companies and funds through Bertelsmann Investments. Bertelsmann Investments currently holds over 370 active investments worldwide through its network of start-ups and funds.