Vista Equity Partners has made an investment in Schoox, an agile learning and talent development platform. No financial terms were disclosed. Shearman & Sterling LLP served as legal advisor to Schoox on the deal while Kirkland & Ellis LLP served as legal advisor to Vista.
AUSTIN, Texas, June 29, 2021 /PRNewswire/ — Schoox (the “Company”), the differentiated, highly agile learning and talent development platform, announced today it has received a strategic growth investment from Vista Equity Partners (“Vista”), a leading global investment firm focused on market-leading enterprise software, data and technology-enabled businesses.
Schoox was founded in 2012 on the philosophy that traditional “one size fits all” learning systems are too rigid to adapt to the needs of the modern workforce, especially the unique needs of frontline employees. Schoox’s Learning Engagement platform gives learning and development teams a branded learning environment in which their employees can develop knowledge and skills anytime, anywhere, and on any device.
Schoox plans to use the investment capital to expand its product suite, giving learning and development teams additional tools and resources in a time of rapid change and turnover in the global economy. The Company also plans to invest in its workforce and build on its industry-leading customer support teams to ensure Schoox retains its customer-centric culture and status as a destination employer.
“Schoox aligned around a crucial insight that learning and development needs to be more tailored, flexible and tech-powered to help workers in our evolving global economy adapt, from office workers in a hybrid environment to frontline employees navigating a new normal,” said Lefteris Ntouanoglou, Co-Founder and CEO of Schoox. “This new investment from Vista will enable us to scale our platform and bring insights to more customers, building out our product suite and expanding our go-to-market team. Partnering with Vista will help us achieve this goal while staying true to what has made us successful so far: taking great care of our people, who in turn take great care of our customers. Our company is growing, but our customer-obsessed culture won’t be changing.”
The investment in Schoox is made by Vista’s Endeavor Fund, which is focused on mission-critical, high-growth enterprise software, data, and technology-enabled businesses seeking to expand their impact in the markets they serve. Endeavor partners with companies and their management teams, providing the capital, expertise, and support to build an operational foundation for sustainable growth while accelerating market leadership.
“After a tumultuous year for the economy, the labor market and frontline employees, learning and development platforms like Schoox continue to be vital in helping companies build up their workforce and accelerate success,” said René Yang Stewart, Co-Head of Vista’s Endeavor Fund and Senior Managing Director. “Schoox’s strong management team, powerful technology platform, and unyielding dedication to customer service puts it in an excellent position to continue capturing the massive, growing market opportunity as companies expand and reskill their workforces. It’s a privilege to work with smart founders like Lefteris and his team, and we are looking forward to helping them advance their vision for Schoox.”
Kinetic Ventures and ITC Partners will remain investors in Schoox.
“This is a momentous time for Schoox, and we’re thrilled to continue supporting the company in its next phase of growth alongside a pedigreed technology investor like Vista,” said Campbell B. “Cam” Lanier III, Chairman of the Board of Schoox and CEO of ITC Partners. “Since we made our initial investment in 2015, Schoox has changed the game when it comes to learning and development tools for employees from the office to the frontlines. We believe the company has plenty of runway to continue making it easier for employees and companies to succeed in a changing economy.”
“We are thrilled to be partners with Schoox and ITC and look forward to the value Vista will bring to the equation,” added Jake Tarr, Managing Director of Kinetic Ventures.
Shearman & Sterling LLP served as legal advisor to Schoox and Kirkland & Ellis LLP served as legal advisor to Vista. Financial details of the investment were not disclosed.
In 2012, our founders experienced firsthand how difficult it was to implement, administer, and drive adoption of an outdated learning and talent management system. With ongoing shifts in organizational structure and business objectives that were in constant flux, they needed a solution to better serve both administrator and learner needs. So, they set out to design Schoox with all of the components of traditional HR and learning technology systems, but through a distinctively different lens.
Today, Schoox is a uniquely agile learning and talent development platform for workers in the office, on the frontlines, and everywhere in between. We help businesses of all sizes across industries including restaurants, retail, hospitality, construction, real estate, manufacturing, finance and transportation shift from traditional, compliance-based training to an approach that unlocks and accelerates employee potential as well as business growth.