Credly, a New York-based digital credentialing platform company, announced it has raised $11.1 million in a new round of funding. Investors ZOMA Capital and nonprofit Strada Education Network are joining existing investors New Markets Venture Partners, University Ventures, Pearson, Lumina Foundation, and Lion Brothers Company in this round. Ever since Credly launched in 2012, the company has helped leading organizations recognize and verify the learning and skills that today’s labor market values.
“Credly is working with some of the world’s most recognizable and trusted organizations to build a skills-based currency for the future of work,” said Credly CEO Jonathan Finkelstein in a statement. “The combined support of social impact, strategic, and growth capital partners will accelerate Credly’s progress toward connecting people to opportunity based on their verified capabilities and helping organizations make better, more strategic, data-informed human capital decisions.”
Including this round, Credly has raised a total of $18.2 million. And the funding round announcement coincided with the company’s one-year anniversary of the acquisition of the Acclaim digital credential business unit from Pearson. The combination of the companies created the world’s largest network of professional credentials along with a thriving platform for pathways from learning to employment to career advancement.
This funding round validates the acceleration in the use of digital credentials by major employers dealing with the challenge of attracting, developing, and retaining talent in a tight labor market. Plus it also indicates a growing use of digital credentials by colleges and universities for helping students translate educational experiences and accomplishments.
“Digital credentials can create a common language to bridge skill and equity gaps between job seekers and employers, educational institutions and the labor market,” added global industry analyst Josh Bersin. “A growing number of employees are using digital credentials to provide portable, transparent, and verified evidence of skills.”
There are thousands of employers, training organizations, associations, certification programs, and workforce development initiatives that use Credly to help individuals translate learning experience into professional opportunities using trusted digital credentials.
