OpenSesame raises $9M, aims to offer AR/VR tech courses

OpenSesame that develops and provides on-demand e-learning courses for enterprises has raised $9 million in a Series B investment round led by Altos Ventures with continued participation from Partech Ventures. In conjunction with the funding, Ho Nam, Managing Director, Altos Ventures, will join OpenSesame’s Board of Directors. The company secured $8 million in Series A funding in December 2013 which brings the funding to a total of approximately $17 million. The company claims to use the funding to accelerate sales and marketing areas and improve the customer experience. Moreover, the backing will also be used to innovate training technologies like Augmented Reality/Virtual Reality (AR/VR) and will continue its global expansion and enhance product offerings. Don Spear, CEO, OpenSesame stated, “OpenSesame has experienced tremendous growth in the last two years because leading organizations understand that simple and effective online training gives them a competitive advantage. It is exciting to have Altos Ventures bring their deep experience to OpenSesame. Ho Nam’s insight and counsel on our Board of Directors will be a great addition.”

“Ho’s experience includes leading Altos’ investments in Axis Systems (Cadence), Enwisen (Infor), Evolve (Oracle), Pixo (Sun), SayNow (Google), and Yosemite Technologies (Barracuda Networks) among others. In addition, Nicolas El Baze of Partech Ventures will continue his role on the Board of Directors,” added Spear.

OpenSesame offers courses with no subscription or long-term commitments and the user can use them instantly in any Learning Management System (LMS). Since its launch in July 2012, it has focused on building out its content with the goal to be the largest marketplace for online training courses. The company also provides industry specific courses related to business skills, compliance, safety, technology to sectors such as banking, academics, criminal justice, electrical, healthcare, oil & gas, sustainability, transportation, mechanical, hospitality and engineering.