Spatial Computing Company Talespin Closes $15 Million In Funding

By Annie Baker ● March 5, 2020
  • Spatial computing company Talespin announced it raised $15 million in Series B funding

Talespin — a spatial computing company that is known for focusing on workforce knowledge transfer and skill alignment — announced it raised $15 million in Series B funding. This round of funding was led by Cornerstone OnDemand, which is a provider of cloud-based learning, talent management, and talent experience software. And Cornerstone also announced an ongoing partnership with Talespin for delivering Talespin’s extended reality (XR) training solutions to customers. Plus HTC also joined the round as a new investor with participation from existing investors, including Farmers Insurance Exchange.

Many companies face major reskilling challenges as they seek to transform their workforces to keep pace with rapidly changing technology, evolving workforce expectations, and growing talent gaps. And soft skills like leadership and communication are at a premium in a digital world and process-oriented jobs are changing faster than people can train for them using traditional methods.

Talespin addresses these challenges by enabling companies to systematically transition their workforces toward a new skills-based economy with spatial computing. And Talespin’s Runway platform accelerates knowledge transfer for soft and hard skills and offers advanced skills data to enable purpose-driven career decisions for employees and better talent decisions for organizations.

Along with leading the Series B round of funding, Cornerstone is partnering with Talespin to develop technology and products to up-level HR and L&D practices. And Talespin’s VR learning content will be made available to customers through Cornerstone’s product offerings. Plus Talespin’s Runway platform will also be integrated with Cornerstone’s Learning Management System to power XR training deployment and skills matching analytics at scale.

Talespin’s technology is trusted by companies across a wide range of industries, including insurance, telecommunications, technology, and healthcare industries, primarily in the Fortune 500. This round of funding brings Talespin’s total funding to $20 million. And with this round of funding, the company is planning to continue to power its talent development platform. Plus Runway will also use the funding to expand research and development and to continue growing its VR learning content library.

Key Quotes:

“We share Talespin’s vision that the workforce needs innovative solutions to stay competitive, maximize opportunity and increase employee satisfaction. We’ve been incredibly impressed with Talespin’s technology, leadership team and vision to transform the workplace through XR. Talespin’s technology is a perfect fit in our suite of products, and we look forward to working together to deliver great solutions for our customers.”

-Jason Gold, Vice President of Finance, Corporate Development and Investor Relations at Cornerstone

“Farmers work with Talespin continues to deliver innovative technology to help empower our employees to provide a high level of customer service. Their immersive VR and AR platforms have helped us reshape the way we look at training Farmers Insurance Claims Adjusters and we’re excited to continue to support the Talespin team through this next phase of growth and development.”

-Scott Lindquist, chief financial officer of Farmers Group (the attorney-in-fact of Farmers Insurance Exchange)

“Creating better alignment between skills and opportunities is the key to solving the reskilling challenges organizations across the world are facing. That’s why it’s critical companies find a way to provide accelerated, continuous learning and create better skills data. By doing so, we will open up career pathways for individuals that are better aligned to their natural abilities and learned skills, and enable companies to implement a skills-based approach to talent development, assessment, and placement. Our new funding and partnership with Cornerstone will allow us to expand our product offerings to achieve these goals, and to continue building innovative solutions that redefine what work looks like in the future.”

-Kyle Jackson, CEO and Co-Founder of Talespin