The Dublin-based startup, LearnUpon recently received a $ 56 million investment.The funds will go towards the creation and technical implementation of online learning systems for corporations, 70% of which are located in the United States.
The investment company, Summit Partners offered generous funding to the startup. Its leader will join the startup's board of directors. The proceeds, according to Brendan Node, LearnUpon CEO, will go towards paying employee salaries and bringing in new salespeople. Sales managers are particularly sought by the American branch of the company - Node, which notes that it plans to pay special attention to development in this market.
In 2019, the corporate online learning market was valued at $ 64 billion. More than $ 9 billion was invested in LMS (Learning Management Systems) alone in 2020. Brendan is convinced that hefty investments will increase competition. Nevertheless, he considers LearnUpon to be a unique company capable of resisting the market: "With us, users can be trained together or out of sync in progress, starting several different courses at the same time. In addition, students create tests on their own and import content filmed outside of it (for example, it could be Zoom video calls) to the platform ".
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