FTV Capital led a $28 million growth equity funding round in elearning platform OpenSesame. The funding round also included existing investor Altos Ventures. FTV partner Chris Winship will join OpenSesame’s board of directors.
OpenSesame, the elearning innovator providing the world’s most comprehensive online catalog of curated employee training courses, today announced it raised a $28 million growth equity round led by FTV Capital. OpenSesame will use the proceeds to continue enhancing its machine learning-driven curation tools, expand its course offerings, and scale its sales and marketing functions to serve businesses worldwide. This funding round includes participation from existing investors including Altos Ventures. As part of the transaction, FTV partner Chris Winship will join the OpenSesame board of directors.
As workforce training rapidly shifts from classroom to online delivery, OpenSesame is disrupting the standard elearning model by curating the most comprehensive catalog of over 20,000 elearning courses from hundreds of the world’s top publishers and helping companies ensure the success of their training programs. OpenSesame helps businesses around the world find courses, map them to core competencies, sync them with a company’s learning management system (LMS) to increase utilization and improve learning & development (L&D) programs. OpenSesame has flexible buying options to meet every training need, and the technology platform is simple to integrate and use. Leveraging machine learning and expert advisors, OpenSesame helps curate the best variety of courses for evolving enterprise training requirements, driving employee engagement and increasing elearning utilization. OpenSesame serves a wide range of clients, including governments and Global 2000 companies in services, manufacturing, technology, and highly regulated industries such as financial services and health care.
“Our goal is to make elearning accessible, convenient, and meaningful to all EnerSys employees.” said Drew Krajewski, director of global training & development for EnerSys, a Fortune 1000 OpenSesame customer. “Actual customer service of this caliber is a rarity, and OpenSesame does it right. We don’t consider OpenSesame a vendor. They’re our partner.”
“Based on FTV Capital’s long and successful enterprise SaaS investment track record, we are excited to have them lead our Series C funding,” said Don Spear, CEO of OpenSesame. “This investment coupled with their extensive network of strategic advisors will help OpenSesame to continue to rapidly grow and innovate to meet the constantly evolving training needs of our customers as they prepare their employees for the future of work.”
“Enterprises spend over $30 billion annually on external learning content and programs to maintain a highly skilled, competitive workforce, as well as to comply with complex regulatory requirements,” said Chris Winship, FTV Capital partner. “OpenSesame is capitalizing on key trends that are transforming the workplace, including a more mobile workforce, evolving millennial preferences and behaviors, and the rapid adoption of enabling technologies such as cloud and collaboration. We are extremely impressed with the OpenSesame management team, the market leading solution they have built and their outstanding growth trajectory, and we are excited to join forces in this next phase of growth.”
OpenSesame helps develop the world’s most productive and admired workforces. With the most comprehensive catalog of elearning courses from the world’s top publishers, we are here to help you every step of the way, from finding courses, mapping them to your core competencies, syncing them with your LMS to increasing utilization and improving your L&D programs. Not only will you have the flexibility of multiple purchasing options from OpenSesame, you’ll find it simple to use and administer your e-learning courses. To learn more, visit www.opensesame.com.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $2.7 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology & services, financial services and payments & transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 108 portfolio companies. FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.