Total amount raised
$67.3 Millions
Latest funding date
March, 2022
Location
Title
WorkRamp has successfully raised $67.3 million over five funding rounds, with its latest round being a Series C in March 2022. The platform is an all-in-one learning management system designed to support business growth through employee and customer development.
Keep reading to explore the intricacies of WorkRamp's fundraising journey and the investors backing this innovative platform.
What Is WorkRamp?
Founded in 2015, WorkRamp is an all-in-one learning platform based in San Francisco. The company was established by Ted Blosser and aims to power learning as a growth engine for today’s top organizations.
WorkRamp provides a flexible learning platform designed for executives, employees, and customers. The platform focuses on enhancing employee retention, engagement, and upskilling, particularly in the context of remote work.
With a team of 51-200 employees, WorkRamp continues to advance learning to develop top talent, exceed revenue targets, and inspire customer advocacy.
How Much Funding Has WorkRamp Raised?
- Seed (First Round)
- Amount Raised: $120,000
- Date: August 2016
- Motivation Behind the Round: To kickstart the development of their learning platform.
- Seed (Second Round)
- Amount Raised: $2,200,000
- Date: December 2016
- Lead Investors: Elad Gil, UpHonest Capital, Elefund
- Motivation Behind the Round: To hire more sales and engineering talent to support growth beyond the current 50 customers.
- Series A
- Amount Raised: $8,000,000
- Date: June 2019
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series B
- Amount Raised: $17,000,000
- Date: December 2020
- Lead Investors: Bow Capital, OMERS Ventures
- Motivation Behind the Round: To capitalize on the growing need for remote learning and training solutions, especially due to the COVID-19 pandemic.
- Series C
- Amount Raised: $40,000,000
- Date: March 2022
- Lead Investors: Slack Fund, Salesforce Ventures, Susa Ventures
- Motivation Behind the Round: To unlock the growth potential of fast-growing businesses with its all-in-one learning platform.
Total Amount Raised: $67,320,000
Current Valuation: $300 million (~estimated)
Key Investors
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding, advice, and connections to early-stage startups. It has been instrumental in the growth of numerous successful companies.
- Investment Focus Areas: Early-stage startups, software, internet, technology.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. It aims to accelerate the growth of the next generation of enterprise technology.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: DocuSign, Zoom, Twilio.
- Slack Fund
- Details: Slack Fund is a venture capital fund created by Slack, focusing on companies that build on the Slack platform. It supports startups that enhance the Slack ecosystem.
- Investment Focus Areas: Companies building on the Slack platform.
- Notable Investments: Donut, Troops, Guru.
- Susa Ventures
- Details: Susa Ventures is a venture capital firm that invests in early-stage technology companies. It aims to support founders with a long-term vision and disruptive ideas.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Robinhood, Flexport, Andela.
- OMERS Ventures
- Details: OMERS Ventures is the venture capital arm of OMERS, one of Canada’s largest pension funds. It focuses on high-growth technology companies across North America and Europe.
- Investment Focus Areas: Enterprise software, fintech, health tech.
- Notable Investments: Shopify, Hootsuite, Hopper.
What's Next for WorkRamp?
WorkRamp is poised to capitalize on the growing demand for integrated learning solutions, especially as businesses increasingly prioritize employee development. With a recent $40 million Series C funding round, the company is well-positioned to expand its product offerings and customer success programs, potentially tripling its revenue and customer base.
Future fundraising opportunities seem promising, given the substantial market size and WorkRamp's rapid growth. However, the company will need to navigate challenges such as competition from legacy systems and the need for continuous innovation to stay ahead in a rapidly evolving industry.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like WorkRamp and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
