Dublin e-learning player LearnUpon raises €47.4m

More than 1,000 companies worldwide use Dublin firm LearnUpon’s technology to deliver training to customers and employees.

E-learning player LearnUpon closed a €47.4m ($56m) round in a minority investment led by Summit Partners, an alternative investment fund that manages $21bn in assets.

The investment was part of a bumper day for Dublin tech start-ups with a separate €10.5m investment in medtech player Neuromod bringing to almost €58m the amount raised by two Dublin tech firms in a single day.

“When Des and I founded LearnUpon in 2012 we believed that a learning management system should be intuitive for users”

The funding raised by LearnUpon will be used to increase headcount with 100 engineers to be hired over the next 18 months.

A learning journey

Founded by Brendan Noud and Des Anderson in 2012, LearnUpon has developed a cloud-based learning management system that is used by more than 1,000 companies to deliver training to their employees and customers. Clients include Booking.com, Twilio and Zendesk.

LearnUpon currently employs more than 180 people across four offices, including more than 70 engineering professionals.

“When Des and I founded LearnUpon in 2012 we believed that a learning management system should be intuitive for users, quick and seamless to set up, and delivered with industry-leading customer support,” Noud wrote in a blog post.

“Combining powerful functionality with unparalleled ease of use for both learners and administrators, LearnUpon now helps enterprises democratise learning by dramatically increasing adoption and engagement across their organizations.

“Our powerful Learning Management System helps businesses get more out of corporate learning with a scalable solution built to deliver high-quality learning experiences to multiple audiences – all from a single, intuitive, integrated platform.

“LearnUpon is designed to enable more efficient delivery, tracking, measurement, and certification across numerous learning use-cases, including employee development, customer onboarding, partner education, and compliance training, all of which have traditionally been managed across disparate systems,” Noud added.

Noud said that they chose Summit Partners because of its track record in scaling SaaS businesses.

“Fuelled by product breadth and by a relentless dedication to customer success, we’ve grown LearnUpon’s annual recurring revenues by more than 50pc year-on-year for each of the last 12 quarters. Serving more than 1,000 customers worldwide, including Booking.com, Twilio, USA Football, and Zendesk, we’re proud of our platform’s 5-star ratings across Capterra, G2Crowd, GetApp, and TrustRadius.

“We’re also steadily growing our team, with 180 employees currently across four offices, including more than 70 engineering and product development professionals. We anticipate adding another 100 engineers over the next 18 months to support continued product expansion.”

Pictured above: LearnUpon founders Brendan Noud and Des Anderson

By John Kennedy (john.kennedy3@boi.com)

Published: 21 October, 2020