Denmark-based learning management system LMS365, has raised $20 million in funding to further fuel its global expansion.
The growth capital investment was led by Blue Cloud Ventures and includes Kamet Capital and existing shareholders. As part of the funding, Mir Arif and Eric Guardiola of Blue Cloud Ventures will be joining the LMS365 board and Victor Yaw will be joining as a board observer.
“We are thrilled to partner with LMS365 and its management team,” says Mir Arif, Managing Partner of Blue Cloud Ventures. “We have tracked the LMS market for a long time and were impressed by the Microsoft Teams-native platform built by LMS365 which provides seamless deployment and ease of use for their customers."
LMS365’s learning management platform, which manages employee training, is built into Microsoft Teams, Microsoft Viva and Microsoft365. It says that ‘allowing employees to learn in their familiar flow of work – has been key to LMS365’s success’.
“Raising a round of this magnitude in the current climate is outstanding for the whole team and a testament to all the hard work put into getting to this point," says Rasmus Holst, CEO of LMS365. “This capital injection represents a significant change in gear for our business. The decision by our CTO, Freddy Bang, to build on Teams in 2016 sparked a phenomenal growth journey, and now we are ready for the next chapter”.
LMS365 is vying for global expansion, and has already expanded its market access through the acquisition of distribution partners in the U.S., Germany and Australia.
“We see a clear window of opportunity in the market where we can accelerate,” says Henrik Jeberg, Chief Strategy Officer of LMS365. “While we are proud of our growth rates, Microsoft Teams adoption has also grown fast, so we expect to continue to invest in our core market, and we also see Microsoft Viva as a clear opportunity,"