Reducate, the Utrecht-based software company, has been named the best performing SaaS (Software as a Service) company in the Netherlands. This recognition comes from the SaaS100 ranking of 2023, presented by MT/Sprout on Thursday.

Reducate emerged from the merger between the Dutch edtech company E-WISE and the Danish Blueprint Learning. It offers an e-learning platform for professionals and currently serves around 100,000 users across 30 industries.

“I am extremely proud,” said Ellen Smit, the director of E-WISE, which was founded in 1998. “Back then, it was quite revolutionary to start something like SaaS. The term didn’t even exist.” Reducate aims to become the largest company in its industry in Europe. “I actually think we already are,” says Smit. “The ambition is to expand on that.” This growth will be achieved through a “buy and build” strategy, acquiring other companies to expand their reach.

While external financing seems likely for such expansion, the company is currently self-sufficient. “I don’t rule out the possibility of having an investor in the future,” says Smit.