OpenSesame,
the elearning innovator providing the world’s most comprehensive online
catalog of curated employee training courses, today announced it raised
a $28 million growth equity round led by FTV Capital. OpenSesame will
use the proceeds to continue enhancing its machine learning-driven
curation tools, expand its course offerings, and scale its sales and
marketing functions to serve businesses worldwide. This funding round
includes participation from existing investors including Altos Ventures.
As part of the transaction, FTV partner Chris Winship will join the
OpenSesame board of directors.
As workforce training rapidly shifts from classroom to online delivery,
OpenSesame is disrupting the standard elearning model by curating the
most comprehensive catalog of over 20,000 elearning courses from
hundreds of the world’s top publishers and helping companies ensure the
success of their training programs. OpenSesame helps businesses around
the world find courses, map them to core competencies, sync them with a
company’s learning management system (LMS) to increase utilization and
improve learning & development (L&D) programs. OpenSesame has flexible
buying options to meet every training need and the technology platform
is simple to integrate and use. Leveraging machine learning and expert
advisors, OpenSesame helps curate the best variety of courses for
evolving enterprise training requirements, driving employee engagement
and increasing elearning utilization. OpenSesame serves a wide range of
clients, including governments and Global 2000 companies in services,
manufacturing, technology, and highly regulated industries such as
financial services and health care.
“Our goal is to make elearning accessible, convenient, and meaningful to
all EnerSys employees,” said Drew Krajewski, director of global training
& development for EnerSys, a Fortune 1000 OpenSesame customer. “Actual
customer service of this caliber is a rarity, and OpenSesame does it
right. We don’t consider OpenSesame a vendor. They’re our partner.”
“Based on FTV Capital’s long and successful enterprise SaaS investment
track record, we are excited to have them lead our Series C funding,”
said Don Spear, CEO of OpenSesame. “This investment coupled with their
extensive network of strategic advisors will help OpenSesame to continue
to rapidly grow and innovate to meet the constantly evolving training
needs of our customers as they prepare their employees for the future of
work.”
“Enterprises spend over $30 billion annually on external learning
content and programs to maintain a highly skilled, competitive
workforce, as well as to comply with complex regulatory requirements,”
said Chris Winship, FTV Capital partner. “OpenSesame is capitalizing on
key trends that are transforming the workplace, including a more mobile
workforce, evolving millennial preferences and behaviors, and the rapid
adoption of enabling technologies such as cloud and collaboration. We
are extremely impressed with the OpenSesame management team, the market
leading solution they have built and their outstanding growth
trajectory, and we are excited to join forces in this next phase of
growth.”
About OpenSesame
OpenSesame helps develop the world’s most productive and admired
workforces. With the most comprehensive catalog of elearning courses
from the world’s top publishers, we are here to help you every step of
the way, from finding courses, mapping them to your core competencies,
syncing them with your LMS to increasing utilization and improving your
L&D programs. Not only will you have the flexibility of multiple
purchasing options from OpenSesame, you’ll find it simple to use and
administer your e-learning courses. To learn more, visit www.opensesame.com.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $2.7
billion to invest in high-growth companies offering a range of
innovative solutions in three sectors: enterprise technology & services,
financial services and payments & transaction processing. FTV’s
experienced team leverages its domain expertise and proven track record
in each of these sectors to help motivated management teams accelerate
growth. FTV also provides companies with access to its Global Partner
Network®, a group of the world’s leading enterprises and executives who
have helped FTV portfolio companies for two decades. Founded in 1998,
FTV Capital has invested in 108 portfolio companies. FTV has offices in
San Francisco and New York. For more information, visit www.ftvcapital.com.
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