Total amount raised
$53.2 Millions
Latest funding date
10/01/2020
Location
Skilljar has successfully raised multiple funding rounds, with its most recent Series B round closing on October 6, 2020. The platform is designed to enhance customer education through intelligent, personalized, and accessible learning experiences.
Keep reading to explore the intricacies of Skilljar's fundraising journey and the investors backing this innovative platform.
What Is Skilljar?
Skilljar, founded in 2013 by Jason Stewart and Sandi Lin, is a leading provider of Learning Management System (LMS) software aimed at customer education and training. The company is headquartered in Seattle, Washington, and employs between 101-250 people.
Operating in industries such as B2B, Corporate Training, EdTech, and SaaS, Skilljar offers a platform designed to accelerate product adoption and improve customer retention. The platform features customizable academies, certificates, monetized training, and powerful integrations with tools like Salesforce and Zoom.
Skilljar's mission is to make customer education intelligent, personalized, and accessible, serving various sectors including Tech & Software, Healthcare, Manufacturing, and Financial Services. The company was acquired by Gainsight, further enhancing its capabilities and reach.
How Much Funding Has Skilljar Raised?
- Pre-Seed Round
- Amount Raised: $118K
- Date: August 2013
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their customer education platform.
- Seed Round
- Amount Raised: $1.1M
- Date: November 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market penetration.
- Seed Round
- Amount Raised: $2.6M
- Date: November 2015
- Lead Investors: Trilogy Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product features.
- Series A
- Amount Raised: $16.4M
- Date: March 2018
- Lead Investors: Mayfield Fund, Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate go-to-market strategies.
- Series B
- Amount Raised: $33M
- Date: October 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team, accelerate go-to-market programs, and enhance product development.
Total Amount Raised: $53.218M. Current Valuation: Not publicly disclosed.
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They focus on growth-stage technology and software companies.
- Investment Focus Areas: Software, Internet, Data Services
- Notable Investments: Twitter, Shopify, DocuSign
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm that invests in early-stage technology companies. They have a strong focus on enterprise and consumer sectors.
- Investment Focus Areas: IT, Consumer, Health
- Notable Investments: Lyft, SolarCity, Marketo
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that invests in early-stage technology companies. They focus on enterprise software, consumer technology, and emerging platforms.
- Investment Focus Areas: Enterprise Software, Consumer Technology, Emerging Platforms
- Notable Investments: Anaplan, Nextdoor, Zuora
- Trilogy Equity Partners
- Details: Trilogy Equity Partners is a private investment firm that focuses on early-stage and growth-stage technology companies. They have a history of successful investments in the tech sector.
- Investment Focus Areas: Early-Stage Technology, Growth-Stage Technology
- Notable Investments: Zulily, Redfin, DocuSign
- Techstars
- Details: Techstars is a seed accelerator that provides funding and mentorship to early-stage startups. They have a broad focus across various industries.
- Investment Focus Areas: Seed-Stage Startups, Various Industries
- Notable Investments: SendGrid, DigitalOcean, Sphero
What's Next for Skilljar?
Skilljar stands at the cusp of significant growth opportunities, driven by the increasing demand for online learning and remote work solutions. With a recent $33 million Series B funding, the company is poised to expand its team, accelerate go-to-market programs, and enhance product development. This funding not only underscores the potential for future growth but also positions Skilljar to capitalize on the growing importance of customer education platforms.
As Skilljar continues to grow, future fundraising opportunities seem promising. The involvement of high-profile investors like Insight Partners suggests that additional funding rounds could be on the horizon, enabling further expansion and innovation. However, the company will need to navigate challenges such as competition from other customer education platforms and the need to continuously innovate to meet evolving customer needs.
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