Perhaps one of life's greatest enticements is that we never stop learning. Whether you were a diligent schoolchild or someone who yawned their way through class, self-improvement is an evergreen skill that continues paying dividends throughout employment, and right to the top of the career ladder.
Naturally organisations want to support this. Learning and development content allows employees to refresh and combats some of the wash out that may result from routine assignments.
Now armed with a £2 million sophomore fundraise from its existing investor YFM Equity Partners, Elucidat is growing the market for its digital publishing and feedback platform that augments authors of enterprise e-learning content.
The Brighton, UK-based startup has won recognition from enterprise-focused research firm Brandon Hall Group on three consecutive occasions, taking first prize for Brandon Hall's best advance in content authoring technology. It's now relishing the chance to build further global connections to extend its already considerable international presence.
Since starting out in 2013, Elucidat has strived to build a single source of content creation for e-learning i.e. what is it that e-learning creators need that other digital authors don't?
The answer, it seems, is a far tighter application of presentation designs, gamification tools and feedback metrics giving greater assurance to the author that their content will be both enjoyable and informative.
Elucidat also promises to ease the process of e-learning creation by providing top tier examples to work from, as well as offering stylish visual templates that range from simple scrolling webpages to module-by-module quizzes and guided self-reflection.
Hot on the back of the £2 million raise, Elucidat is now looking to solidify its profile on the international stage. It celebrated the achievement of reaching 35 million e-learners through its platform last year.
"We are delighted to continue to partner with YFM for the next phase of our growth," said Elucidat CEO Steve Penfold, "I have greatly valued working with James and the YFM team as we have expanded our sales reach internationally and continue to help our customers to create impactful e-learning by unlocking knowledge from any employee.”
YFM Equity Partners had invested already; in 2019 it provided a £3.5 million sum to help build out the core product and make early in-roads into North America.
With its follow on investment, YFM partner James Savage says the firm has matched its fundamental commitment to support scaling of portfolio companies.
Savage said: "Our strategy is to partner with and support our successful companies as they scale."
"We are delighted to offer further support to Elucidat, whose proven technology enables Learning & Development professionals in some of the world’s largest organisations to drive real change with engaging e-learning."