- Coassemble — a company democratizing online training for global brands — announced it has raised a $4.4 million Series A round of funding led by Equity Venture Partners
Coassemble — a company democratizing online training for global brands — announced it has raised a $4.4 million Series A round of funding led by Equity Venture Partners (EVP) and advised by Clinton Capital Partners. Including this funding round, Coassemble has raised a total of $6.6 million.
With this round of funding, Coassemble plans to grow its product development and sales and marketing teams with a focus on scaling its U.S. headquarters in Denver, Colorado.
Coassemble is replacing the traditional instruction manual-based training approach with easily customizable micro-learning modules. And team leads in IT, customer support, sales, marketing, and HR can administer and track progress on both new-employee programs and continuing development modules.
The online training provider has emerged as one of the growing number of technology companies to emerge out of Australia and has become an early leader in a market expected to grow to $113.8 billion globally by 2022, according to research by Technavio. And the company is focused on making online training affordable for teams of all sizes and is priced to democratize the market.
Coassemble is also modernizing online training to support rapid growth in mid-market and tech companies. And the platform’s learner-first design has won it a 99% user retention rate since inception. In the past year, Coassemble also doubled its year-over-year monthly recurring revenue (MRR) and doubled its customer base.
“We have always been passionate about making online training accessible to all kinds of teams, with the user at the heart of everything we do. This funding round will help us execute our vision at an accelerated rate. The expertise, perspective and relationships of Equity Venture Partners will help propel Coassemble towards becoming a market leading go-to training platform.”
– Coassemble CEO Ryan Macpherson
“Coassemble has built an exceptional product borne out of two decades of industry experience. Internal knowledge share and corporate learning represents a significant and growing global market opportunity and Coassemble is at the forefront of innovation in this space. We’re privileged to be able to lead the capital raise and are looking forward to working alongside the team as they continue to deliver their solution globally.”
– Justin Lipman, investment director at EVP — who will also be joining the Coassemble board of directors
“Many Australian companies aspire to grow internationally. Coassemble has proven that with the right product and team, aspirations can be delivered. The team’s expertise, their passion to simplify online learning and their strong product vision will lead Coassemble into significant global traction.”
– Randolf Clinton, principal at Clinton Capital Partners