Richard Alberg
- CEO at Aptem
GetLatka interview
How Aptem Hit $8M in Revenue Helping UK Companies Train Employees Faster and Comply with Regulation (Interview with CEO Richard Alberg)
Richard Alberg (CEO of Aptem) spoke to Nathan Latka on October 31, 2023.
Aptem figures from the interview
- Revenue (2023)
- $8M
- Customers (2023)
- 170
- YoY Growth (2023)
- 20%
- Team Size (2023)
- 120
- Gross Revenue Churn (2022)
- 2.3%
“So in The UK, we have a regulated term, you use it in America as well, called apprenticeships. And essentially, you can go to college, you can go to university, you can go to school, and you can be a student and study. But in The UK, there's over 3,000,000,000 a year being spent on people who have a job, who are in employment, but are nevertheless learning skills to go one step higher.”
“It's a big market, half a million people a year in The UK being trained, 1,500 different organizations doing this training, and my company provides technology to those organizations in order to run their business.”
“We have every trainee they've got. There's no choice for our customers. They run their entire business on our platform. Even the way they get paid is via the financial calculation that's run by our platform.”
Bio
I have spent many years in a range of entrepreneurial roles. I founded and ran PSL, a firm of occupational (I/O) psychologists that developed sophisticated assessment solutions. This involved psychometric expertise and advanced technology. In November 2006 PSL was acquired by Kenexa and I became Senior Vice President responsible for sales, marketing and strategy in Europe. I left Kenexa in 2008 upon completion of my earn-out. Whilst I decided what I wanted to do next I joined a small consortium investing in a snacks and drinks distribution company that was in Administration. I became interim Chief Executive and helped the management team deal with the issues that had led to the failure of the company whilst also significantly cutting costs. In 2009 I founded MWS Technology Ltd, where we develop and support Aptem (www.aptem.co.uk), an innovative and successful Software as a Service (SaaS) platform used by vocational training and employment services providers to deliver their programmes. I care passionately about education and in 2015 took on a two year term as chair of North Hertfordshire College. Operating from four campuses NHC supports over 13,500 students each year. In 2016 I co-founded Corndel (http://www.corndel.com). Over a handful of years we grew Corndel into a quite exceptional training organisation. This was also a highly successful commercial venture with the business acquired by THI Investments in November 2020, at which point I left the company. I have invested in several other businesses and enjoy being an active shareholder and advisor.