The funding helps Articulate's valuation hit the $3.75B mark. Here are the top-line bullets you need to know.
Articulate, a cloud-based employee training software, has raised $1.5B in a Series A round that drew participation from General Atlantic, Blackstone, and ICONIQ Growth.
How’s the company performing?
- New York-based Articulate is a software-as-a-service (SaaS) platform that allows companies to create training courses for employees.
- In February 2020, the company launched its all-in-one product Rise.com, a platform to help small and medium-sized businesses launch their own training courses.
- The company states that more than 106,000 organizations, including Amazon, HP, Wells Fargo, IBM, and Pepsi, have created millions of courses using its platform.
- More than 112M learners across 161 countries have used the Articulate platform and more than 3M courses have been created in the last year.
Why does the market matter?
- The global online learning market is expected to grow at a CAGR of 21% to reach a value of $1T by 2027, as per Global Market Insights.
- The growing need to build business resilience and agility due to the Covid-19 pandemic and the rise of remote work have contributed to industry growth.