At a Glance
Articulate, a company that has been on bootstrap since 2002, has raised its first funding of $1.5B in a Series A round at a valuation of $3.75B. It plans to use the proceeds to scale internationally and accelerate growth.
Online-learning SaaS provider Articulate Global has raised $1.5 billion in a Series A funding round at a valuation of $3.75 billion. Bootstrapped since its inception, this round marks Articulate’s first-ever fundraise, led by General Atlantic with participation from Blackstone Growth (BXG) and ICONIQ Growth.
The company said in a press release that it would use the proceeds from the fund towards accelerating growth and international scaling. Adam Schwartz, founder and CEO of Articulate, said that the company partnered with global equity firms to create a greater impact on the world via its services. He added that with the funding and backing of these growth equity firms, Articulate is well-positioned to be the one-stop-shop for organizations entering the online learning domain.
“Companies face a whole host of challenges training employees in remote and hybrid work environments and reskilling their workforces post-COVID. They’re also under increasing pressure to build learning cultures that treat employees as whole humans, democratize learning creation and consumption, and reduce turnover through enhanced engagement,”Mr. Schwartz said
Articulate, founded in 2002, is a remote software company that helps organizations develop, deliver, analyze engaging and effective online training. Its customer base includes enterprise companies and small-to-medium-sized businesses. It serves them through two offerings – a suite of online course development apps and resources with Learning Management Systems (LMS) and ‘Rise.com,’ an all-in-one online training system.
Commenting on the investment, Anton Levy, co-president at General Atlantic, opined that it was usually rare for companies to experience success like Articulate without institutional backing. Stating that Articulate has established itself as a leader and innovator in transformative technology, customer NPS, employee happiness, and much more, he added,
“Drawing from a longstanding history of backing mission-driven entrepreneurs, we are thrilled to partner with the Articulate leadership team to extend and accelerate the transformative impact they’ve already had in the world.”Anton Levy, co-president at General Atlantic
Will Griffith, founding partner at ICONIQ Growth, lauded Articulate for addressing the challenges in workplace learning, a core theme articulated by the pandemic that turned out to be a challenge for employees globally.