Articulate, the cloud-based employee training software, has raised $1.5 Billion in series A funding round today. The enterprise is associated with many A-listed companies like Amazon, Oracle, and Morgan Stanley.
This New York-based enterprise was founded in 2002 to serve 106,000 companies. Its most in-demand app is Articulate 360, which is used for authoring training courses that give companies the leverage of exporting to the web or hosting on their learning management system (LMS). This provides many assets such as photos, videos, templates,on-demand training that is live supported. Rise.com is another program designed for small and mid-size businesses that don’t use LMS.
“Every enterprise has to train employees, every function has its own unique training needs, and the organization as a whole has training needs around employee onboarding, compliance, and employee engagement,” Articulate president Lucy Suros said. She also added that many companies have historically done training in a very unscalable and are instructor-led. But Articulate enables employees to take all that training online regardless of their skill and position and focuses only on areas that require training.
Articulate helps reduce training time by providing only essential areas. The platform can also save resources for massive companies that need to train thousands of employees every year. The ready-made course components can be used for mid and small-sized businesses, which can save some resources that would usually be invested in creating custom training materials.
Articulate stands at $3.75 billion post-funding, General Atlantic joined with Blackstone Growth and ICONIQ Growth in the investment, making a big chunk of the funding. Articulate will be using the new capital to gain more customers and expand by three times over the coming years.