From Turkey to Global Success: An Exit Story from Boğaziçi Ventures; PERCULUS

As Boğaziçi Ventures, we are delighted to once again share the news that our portfolio company Perculus (Acquired by Constructor Tech) was acquired last month by Constructor Tech, a Switzerland-based global education technology platform.

As Boğaziçi Ventures, we are delighted to once again share the news that our portfolio company Perculus (Acquired by Constructor Tech) was acquired last month by Constructor Tech, a Switzerland-based global education technology platform.

This acquisition represents more than just an exit story for us; it is tangible proof that a 100% locally born solution in the field of education technologies, developed in Turkey, is now recognized on a global scale.

Education Technologies Born in Turkey Attract Global Attention

Developed in 2008, Perculus gained rapid momentum during the pandemic with the surge in demand for remote education. Today, it is actively used by over 350 corporate and academic institutions, and as of 2025, offers a robust live education infrastructure with more than 200,000 instructors and over 2 million users annually.

Standing out with its tailored educational solutions, Perculus effectively serves major Turkish companies such as Türk Telekom and AK Sigorta, as well as leading academic institutions like Gazi University, Üsküdar University, Nişantaşı University, Topkapı University, and Marmara University.

Going beyond video conferencing, Perculus offers innovative tools such as lesson flow planning, content development, gamification, interaction analysis, individual and group work features, and analytical performance tracking. This transforms education into an interactive experience, supported by measurable data that make it sustainable.

The Evolution of EdTech and Perculus’ Position

The global education technology market reached $142 billion as of 2024 and is projected to grow at a 13.6% CAGR through 2030 (Sources: HolonIQ, Grand View Research, GSV Ventures).

In 2021, VC investments in EdTech hit $20.8 billion, a 40x increase compared to 2010. This remarkable growth was driven by advances in broadband infrastructure and the global expansion of digital access. The $3 billion Anthology–Blackboard merger in October of the same year highlighted the strategic importance of technology capacity and user access in EdTech. Similarly, the acquisition of edX by 2U, a nonprofit founded by Harvard and MIT, for $800 million demonstrated how critical mergers and acquisitions have become for growth strategies in the sector.

The pandemic-driven “learn from anywhere” approach redefined the services expected from live education platforms in terms of both technical infrastructure and performance. In this transformation, Perculus’ end-to-end content management and design-focused approach clearly differentiates it not only from basic infrastructure providers such as Zoom and Teams, but also from content-based solutions like Miro and Kahoot.

When evaluated alongside global unicorns like BYJU’s, Kahoot, and Andela, Perculus excites us greatly at Boğaziçi Ventures with its product depth and market potential.

A New Era with Constructor Tech

We strongly believe that combining Constructor Tech’s expertise in AI, proprietary large language models, and adaptive learning technologies with Perculus’ robust content design infrastructure will create a powerful synergy. With this acquisition, Perculus—already successful in the Turkish market—is expected to further enhance personalized learning experiences with its regional know-how.

We also see this as more than a technological partnership; it marks a strategic inflection point that could reshape perspectives on education technologies altogether.

Just as in other industries, the integration of AI into EdTech holds immense potential for personalization, content adaptation, and learning measurement. The solutions to be developed after this acquisition are expected to strengthen Perculus’ operations in Turkey while accelerating its expansion in the global market.

Cem Atacık (CEO, Perculus):
“After securing a strong foothold in the Turkish market, we are now ready to scale globally. Together with Constructor Tech, we will continue to deliver solutions not only for higher education but also tailored to the business world and different industries.”

Fund Performance and BV Growth I Success

This acquisition marks a significant milestone as the second exit within just the fourth year of the Boğaziçi Ventures Growth I fund.

From the perspective of the entrepreneurial ecosystem, it once again proves that software-driven products born in Turkey can compete with global players in their verticals and achieve strong international growth through the right strategic partnerships.

For all updates on Boğaziçi Ventures Growth Fund (BVG) regarding 2024, you may refer to our article titled “2024 Year in Review and Future Outlook.”

Barış Özistek (Managing Partner | CEO, Boğaziçi Ventures):
“Perculus is the clearest example of how an original product based on advanced technology can be highly valued by global companies. We have once again witnessed that software solutions originating from Turkey can create value not only domestically but also on a global scale. Congratulations to the founding team and everyone who contributed.”

At Boğaziçi Ventures, we carefully evaluate every investment based on technology depth, global growth potential, and visionary founding teams. We invested in Perculus in 2022, and we believe this merger will further strengthen its scalability potential. We remain committed to supporting its journey.

We sincerely thank the Perculus team, Constructor Tech, our investors, and all stakeholders who contributed to this process.

Here’s to meeting again in new success stories.

For over a decade, we have been contributing to Turkey’s technology entrepreneurship ecosystem with dedication and creating value. With the deep expertise and strong business network we’ve built over this time, we continue to support entrepreneurs. At Boğaziçi Ventures, we believe in harnessing the power of technology across multiple verticals to deliver sustainable and intelligent solutions.

We invite entrepreneurs to apply for investment meetings with Boğaziçi Ventures via [email protected]
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