Total amount raised
$67.3 Million
Latest funding date
3/1/2022
Location
WorkRamp has successfully completed 5 funding rounds, attracting investments from notable backers such as OMERS Ventures and Salesforce Ventures. The company offers an AI-first Learning Management System (LMS) designed to enhance learning experiences for employees, customers, and partners.
Keep reading to explore the intricacies of WorkRamp's fundraising journey and the investors backing this innovative platform.
What Is WorkRamp?
WorkRamp, based in San Francisco, California, operates in the fields of Corporate Training, E-Learning, Enterprise Software, and SaaS. The company offers an AI-first Learning Management System (LMS) designed to enhance learning experiences for employees, customers, and partners.
Founded by Ted Blosser, WorkRamp has grown to employ between 51-100 people. The platform is known for its AI-driven content creation, personalized learning, and performance analytics, making it a comprehensive solution for modern learning needs.
How Much Funding Has WorkRamp Raised?
- Seed Round
- Amount Raised: USD 120,000
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and validate the business model.
- Seed Round
- Amount Raised: USD 2,080,000
- Date: December 2016
- Lead Investors: Susa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 8,000,000
- Date: June 2019
- Lead Investors: Bow Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 17,000,000
- Date: December 2020
- Lead Investors: OMERS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in customer success programs.
- Series C
- Amount Raised: USD 40,000,000
- Date: March 2022
- Lead Investors: Salesforce Ventures, Slack Fund, Susa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product innovation, enhance customer success programs, and expand the team.
Total Amount Raised: USD 67,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They co-led WorkRamp's Series C funding round.
- Investment Focus Areas: Enterprise software, SaaS, cloud computing
- Notable Investments: Zoom, Dropbox, DocuSign
- Slack Fund
- Details: Slack Fund is a venture fund created by Slack to invest in companies building on the Slack platform. They co-led WorkRamp's Series C funding round.
- Investment Focus Areas: Collaboration tools, enterprise software, productivity
- Notable Investments: Notion, Loom, Quip
- Susa Ventures
- Details: Susa Ventures is a venture capital firm that invests in early-stage technology companies. They have been involved in multiple funding rounds for WorkRamp, including the Series C round.
- Investment Focus Areas: Early-stage technology companies, SaaS, enterprise software
- Notable Investments: Robinhood, Flexport, Andela
- OMERS Ventures
- Details: OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds, focusing on technology companies. They participated in WorkRamp's Series B and Series C funding rounds.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Shopify, Hootsuite, Hopper
- Bow Capital
- Details: Bow Capital is a venture capital firm that invests in technology and innovation, particularly in early-stage companies. They led WorkRamp's Series A funding round.
- Investment Focus Areas: Technology, innovation, early-stage companies
- Notable Investments: Figma, Lime, SpaceX
What's Next for WorkRamp?
WorkRamp stands at the cusp of significant growth opportunities, driven by its focus on product innovation and customer success. With the recent $40 million Series C funding, the company is well-positioned to expand its customer base and enhance its platform capabilities. The integration with Salesforce's Trailhead Learning Experience Platform further amplifies its potential to revolutionize corporate training.
Future fundraising efforts seem promising, given the strong backing from high-profile investors like Salesforce Ventures and Slack Fund. These funds could be pivotal in scaling operations and exploring strategic acquisitions to bolster product offerings. However, WorkRamp must navigate challenges such as intense competition and the need for continuous innovation to maintain its market edge.
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 to start making data-driven decisions and stay ahead in the competitive market.
