Lesson.ly, a learning automation software provider, or in simpler words, a corporate training software company, has announced its Series A funding round worth $5 million laead by OpenView, a funding company which invests in B2B companies.
High Alpha and Allos Ventures also participated in the funding. The funding will be used to push the employment opportunities and product innovation. To date, Lesson.ly claims to have served more than 250 customers and 200,000 employees across brands including Intuit Workforce, Trunk Club, Gusto, Thumbtack, NBC News and MSNBC. Lesson.ly previously landed $1.1 million in venture funding in late 2014
Max Yoder, Lesson.ly’s co-founder and CEO said,
“This investment brings the capital and expertise we need to accelerate our learner-first technology and aggressively pursue our mission of helping people do better work so they can live better lives.”
Lesson.ly allows employees to disseminate “tribal knowledge” gained over a period of time to other team members. Employees can thence complete assignments, search for best practices, and request additional learning content from any device. The software allows quizzes and feedback loops to encourage engagement and “employee retention. The company claims that ore than 80 percent of all lessons are created by employees without backgrounds in learning and / or development.
It can be integrated with CRMs and product catalogs, allowing companies to use business data “to drive the right learning at the right time.”
Ricky Pelletier, Partner at OpenView, who will be joining the Lesson.ly Board of Directors stated, “One of the greatest challenges companies face as they grow and scale is ensuring their employees have the information and context needed to be successful in their jobs,” said Pelletier.
“Max and the Lesson.ly team have created a powerful solution that overcomes the challenge of employee learning by democratizing and automating the process. The entire OpenView team is thrilled to take part in this next chapter of Lesson.ly’s success.”
Quoting research firm Technavio, the company states that the global corporate e-learning market may reach to more than $31 billion by 2020.
Lesson.ly has captured all the necessary features which are an essential part of corporate e-Learning:
Easy Lesson Builder
Build bite-size lessons on the topics that matter most to the business. One can buy editable premium courses for skilful learning experience.
One can easily assign lessons and quizzes by setting due dates and sending reminders. Shared links for easy access to relevant content can also be generated.
It can be effortlessly tracked as who learned what, when and how with the help of Gradebook, report cards, graphs and analytics.