- E-learning platform company OpenSesame announced it has raised $28 million in funding led by FTV Capital
- Existing investor Altos Ventures also joined this round
OpenSesame, a popular e-learning platform, announced it raised $28 million in funding led by FTV Capital. Existing investor Altos Ventures also joined this round.
With this round of funding, OpenSesame is going to use the proceeds to continue enhancing its machine learning-driven curation tools, expand its course offerings, and scale its sales and marketing functions in order to serve businesses worldwide.
“Based on FTV Capital’s long and successful enterprise SaaS investment track record, we are excited to have them lead our Series C funding,” said OpenSesame CEO Don Spear. “This investment coupled with their extensive network of strategic advisors will help OpenSesame to continue to rapidly grow and innovate to meet the constantly evolving training needs of our customers as they prepare their employees for the future of work.”
OpenSesame is disrupting the standard e-learning model by curating the most comprehensive catalog of more than 20,000 e-learning courses from hundreds of the top publishers in the world and helping companies ensure their training program success.
Essentially, OpenSesame works with businesses around the world to find courses, map them to core competencies and sync them with a company’s learning management system (LMS) for increasing utilization and improving learning & development (L&D) programs. Plus OpenSesame has flexible buying options in order to meet every training need and the technology platform is simple to integrate and use.
In conjunction with this round, FTV Capital partner Christopher Winship is joining OpenSesame’s board of directors.
“Enterprises spend over $30 billion annually on external learning content and programs to maintain a highly skilled, competitive workforce, as well as to comply with complex regulatory requirements,” added Winship. “OpenSesame is capitalizing on key trends that are transforming the workplace, including a more mobile workforce, evolving millennial preferences and behaviors, and the rapid adoption of enabling technologies such as cloud and collaboration. We are extremely impressed with the OpenSesame management team, the market-leading solution they have built and their outstanding growth trajectory, and we are excited to join forces in this next phase of growth.”
OpenSesame leverages machine learning and expert advisors to curate the best variety of courses for evolving enterprise training requirements, driving employee engagement, and increasing e-learning utilization. And OpenSesame has a wide range of clients including governments and Global 2000 companies in services, manufacturing, technology, and highly regulated industries like financial services and healthcare.
“Our goal is to make e-learning accessible, convenient, and meaningful to all EnerSys employees,” explained Drew Krajewski — the director of global training & development for EnerSys (a Fortune 1000 OpenSesame customer). “Actual customer service of this caliber is a rarity, and OpenSesame does it right. We don’t consider OpenSesame a vendor. They’re our partner.”
