Learnsoft, a technology leader meeting the unique training needs of highly regulated service industries, today announced the close of a $16.7 million Series A round of growth financing led by Elsewhere Partners. Scaling to meet heightened demand for comprehensive, customizable learning management systems (LMS), Learnsoft plans to use the funding to advance its solution offering, grow its team, accelerate adoption of its SaaS platform, and expand into new markets.
“Having worked with the Learnsoft team for almost a decade, we’ve grown our partnership from one agency utilizing the Learnsoft SaaS platform to a comprehensive, customized training program that integrates with our other human resources information systems (HRIS) for the entire Executive Branch of government last year,” said Kraig Knowlton, Director of Personnel Services, Kansas Department of Administration. “Utilizing Learnsoft for our statewide learning, training and performance management efforts, we are confident our team is prepared to properly serve our community.”
Expected to top $38 billion by 2027, the global LMS market may be booming, but many organizations and their employees are often still left wanting. Traditional learning management systems are too rigid and time-intensive to properly support the needs of organizations in complex industries like healthcare and government that need to rapidly adapt to meet evolving demands and regulatory requirements. Already meeting the training needs of dozens of customers in highly regulated industries, the Learnsoft SaaS platform makes it easy for learners to learn and organizations to prove compliance by delivering a comprehensive, user-friendly interface that is branded for each organization.
“Every workplace is in the midst of a complete revolution – employee recruitment, onboarding, management, training and professional development can no longer take a stagnant, one-size-fits-all approach,” said Chris Pacitti, founder and partner of Elsewhere Partners. “We see an enormous opportunity for Learnsoft to lead a new era of change-ready, compliant enterprise training systems that allow organizations to easily adapt training programs. They’ve proven their team, technology and market value with substantial successes across the healthcare and government sectors, and organizations are clearly ready to embrace new solutions to better support talent development and compliance initiatives.”
“Take the pandemic as an example, everything changed in an instant for critical service-providing sectors like healthcare and government and then continued to change almost daily. Traditional systems can’t keep pace,” added Learnsoft CEO Robbie Abt. “Learnsoft provides a comprehensive, yet flexible, solution to ensure organizations can quickly adapt so employees are properly prepared for their job – even when major tasks, procedures, policies and regulations are constantly evolving. With the infusion of strategic growth capital, we are now well positioned to scale and meet rising demand without compromising on our service promise. ”
Elsewhere Partners will provide support from its deep ecosystem of technology professionals to help Learnsoft navigate its next phase of growth. Michele Perry, an Elsewhere Partners operating advisor, will take on the role of Board Chair, alongside Chris Pacitti and Sloane Child of Elsewhere Partners, who will also join the Board to support the company’s accelerated market expansion, channel development and recruiting efforts.
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