Today, learning is one of the most fundamental business challenges and top of mind for both CEOs and employees. According to a PWC report, 79% of CEOs worldwide identify the lack of essential skills in their workforce as a threat for future growth, and the inability to learn and grow is the No.1 reason for employees to look for a new job, say Bersin and LinkedIn.
As the global learning and development industry is expected to reach $402 billion by 2022 and the European market is expected to grow in the mid-single digits annually over the next 3-5 years, startups are rushing into the space to create new experiences in the segment. Amsterdam’s power skills training provider Lepaya raised $40 million in a Series B round in December last year.
Paris-based employee learning software solution Rise Up has now raised €30 million from SaaS focused investment fund Connected Capital, its previous investor MAIF Avenir and first shareholder Impact Partners. The second round of investment will drive the company’s European growth, allowing expansion of its team and product suite as well as localisation of its learning and development solutions for European markets.
Founded in 2014, the one-stop-shop learning solution currently serves over 400 customers and 1 million active learners in 60 countries. The human-first, AI-driven software solution offers each individual a personalised, adaptive approach to learning with features such as intuitive blended learning environment, motivational chatbot and a Microsoft Teams integration.
Rise Up co-founder and CEO Arnaud Blachon said: “As we continue to navigate the COVID-19 pandemic, hybrid learning is fundamental. Rise Up offers an inclusive learning platform that transforms this crucial business challenge into an opportunity for our customers. Our partnership with Connected Capital, with its focus on B2B SaaS, and their experience with HR tech companies in particular, will allow us to further strengthen our position in local European markets.”
Sander Pennings, investment manager, Connected Capital added: “Rise Up’s rich product suite combining LMS, LXP and content authoring is already adding crucial value to companies ranging from SMEs to large corporations such as Axa, Schneider Electric and Domino’s. We are impressed with its efficient growth over the last years in its current markets and are excited to contribute to the company’s accelerated international expansion.”