Lessonly Raises $8 Million Series B to Reimagine Training for Over 1 Million Learners
Expansion-stage venture firm OpenView leads investment in one of the fastest-growing software companies in the country.
INDIANAPOLIS (November 14, 2017) – Lessonly, the leader in team training software, today announced an $8 million Series B funding round led by OpenView, with participation from Rethink Education, High Alpha Capital, and Allos Ventures. The new funding will be used to fuel ambitious hiring initiatives and reinvent training software for the multi-billion dollar sales enablement and customer support training industries.
The business also announced that more than 1 million learners at companies including NBC News, Trunk Club, Ibotta, and Thumbtack have received training via the Lessonly platform.
“I am grateful to our 80-person team, the 500 customers we’ve served, and the million-plus people we’ve enabled over the years,”said Max Yoder, Lessonly’s CEO and co-founder. “Every day at Lessonly is a joy, and I cannot wait to see what the next ten million learners teach us about the future of work.”
Lessonly’s software makes it easy to create lessons in minutes, and deliver customized training to employees about essential job functions. Team members practice their skills easily and often, while managers quickly offer helpful feedback, via features like Learning Paths and Video Response. When integrated with and used alongside other applications—like Salesforce, Zendesk, Google Chrome, and Slack—the Lessonly platform drives even greater employee productivity and performance.
“Our software helps hundreds of sales and support teams learn, practice, and perform at the highest levels,” Yoder added. “Lessonly is all about employees doing better work—and this capital allows us to invest in building the most innovative learning platform in the market.”
The funding round was led by veteran expansion-stage venture firm OpenView. “OpenView’s continued support of Lessonly speaks to the company’s growth, focus on innovation, and ability to hire and retain some of the best talent in the Midwest,” said Ricky Pelletier, Partner at OpenView and Lessonly board member. “We’re excited to support Max, Conner, and team as Lessonly continues to grow and scale.”
“Lessonly is utilizing technology to deliver real-time education and training to a diverse set of industries and workforces,” said Michael Walden, Partner at Rethink Education. “This is the type of problem solving we look for in companies and we look forward to supporting the company as it continues to expand.”
Lessonly’s team has more than tripled in size since their 2016 Series A funding round, exceeding the hiring goals proposed to the city of Indianapolis in 2013. Their first conference, Yellowship, will take place in Indy in April 2018. The company continues to fuel tech growth in Indianapolis, and looks to hire numerous roles across every department through the end of 2017. Interested parties can learn more about Lessonly here.
Lessonly is powerfully simple training software used by over 1,000,000 learners at more than 500 companies to translate important work knowledge into Lessons that accelerate productivity. Sales teams across the world use Lessonly to reinforce best practices, accelerate rep performance, and close more deals. Support teams across the world use Lessonly to serve customers faster, drive consistent support, and elevate the customer experience. Learn more at Lessonly.com.
OpenView, the expansion stage venture firm, helps build software companies into market leaders. Through their Expansion Platform, they help companies hire the best talent, acquire and retain the right customers, and partner with industry leaders so they can dominate their markets. Their focus on the expansion stage makes them uniquely suited to provide truly tailored operational support to their portfolio companies. Learn more about OpenView at ov.vc.
About High Alpha
High Alpha, based in Indianapolis, Indiana, is a leading venture studio focused on conceiving, launching and scaling next generation enterprise cloud companies. The High Alpha Studio Portfolio includes Octiv, Lessonly, Visible, Sigstr, ClearScholar, Zylo, Doxly, Structural and Quantifi. For more information: highalpha.com or on Twitter at @highalpha.
About Rethink Education
Rethink Education invests in early and growth-stage companies that are developing technological solutions to 21st century learning. Launched in 2012, ReThink Education supports startups that are focused on learning outcomes by pursuing business models that are scalable, efficient, and unique. To learn more, please visit ReThink.vc/Education.
Originally on Lessonly.com.