TD Securities Reinstates Docebo Coverage with Buy Rating and Adjusted Price Target of $37

TD Securities has reinstated coverage on Docebo with a Buy rating, adjusting the price target to $37 from $63. Docebo is recognized for its strong product leadership, particularly appealing to enterprise clients, and is poised for growth through a burgeoning U.S. Federal and enterprise sector pipeline. Analysts highlight Docebo's robust financial performance, with a revenue growth rate of 34.9% over the past three years and an impressive gross margin of 80.87%. However, there are warning signs, including recent insider selling transactions. Valuation metrics present a mixed picture, with a high P/E ratio but a low P/S ratio, suggesting potential undervaluation in terms of sales.

Miami, FL / September 12, 2025 / Edflex, a leading player in corporate digital training, has announced a significant $18 million fundraising round, led by Bpifrance via its Digital Venture fund and supported by its historical investors Educapital, Ternel, and Wille Finance Edflex Raises $18m to Accelerate Innovation and Become a Global Leader in Digital Learning^[1]. This third funding round marks a key milestone for the company, which has achieved profitability in its core markets and is now poised to invest heavily in innovation, strengthen its AI capabilities, and accelerate international growth.

Founded in 2016 by Clément Meslin, Philippe Riveron, Raphaël Droissart, and Rémi Lesaint, Edflex offers a comprehensive digital learning platform that aggregates content from over 10,000 publishers and serves more than 1.5 million users worldwide. With over 300 corporate clients, the company has raised $37 million between 2021 and 2025 to support its product development and international expansion Edflex Raises $18m to Accelerate Innovation and Become a Global Leader in Digital Learning^[1].

The latest funding round will be used to enhance Edflex's unique model of content curation and aggregation by forming new partnerships with top training publishers and exclusive collaborations. Additionally, the company plans to deepen its AI integration, introducing more realistic conversational features, real-life simulations, and advanced personalization of learning paths Edflex Raises $18m to Accelerate Innovation and Become a Global Leader in Digital Learning^[1].

Edflex's international expansion will also be bolstered by this funding. The company aims to open new offices and hire local teams in target markets, adapt its solution to local job frameworks and compliance, and strengthen its partnerships with local educational publishers. This expansion follows Edflex's acquisition in Italy in 2024 and the opening of a North American office in 2025 Edflex Raises $18m to Accelerate Innovation and Become a Global Leader in Digital Learning^[1].

Edflex's ambition is to become a global leader in the corporate learning market. With a strong base of international clients and partnerships with top HR and learning platforms, the company is well-positioned to scale further and deliver greater impact worldwide. The company's product stands out by offering fresh content in 25 formats, meeting everyone's preferences and addressing the rapid skills obsolescence in organizations Edflex Raises $18m to Accelerate Innovation and Become a Global Leader in Digital Learning^[1].