Tovuti LMS raises $8M in a Series A round co-led by Blueprint Equity and ScOp Venture Capital

SaaS News -Tovuti-LMS-Announces-$8-Million-Series-A-Funding-Round (source: SaaS Industry)

At a Glance

Blueprint Equity and ScOp Venture Capital led an $8 million Series A investment in Tovuti LMS Inc., a SaaS LMS. Tovuti LMS was built on the belief that creating learning management systems should be simple for administrators to set up and effectively use. 

Tovuti LMS Inc., a SaaS learning management platform (LMS), has announced that it has raised $8 million in a Series A funding round led by Blueprint Equity and ScOp Venture Capital. 

Tovuti LMS will use the funds to expand its engineering, development, and customer service teams across the board to better serve customers, introduce new software features, and scale the company.

Tovuti LMS is a prominent contemporary learning management system (LMS) supplier for businesses worldwide. Customers may use its full-service platform to develop learning and training programs throughout their whole business.

It’s humbling to achieve validation from two of the greatest investment firms around that a company focused on an awesome team culture, superior client experience, and building some of the most innovative technology in the learning experience space can prevail in today’s tech environment. ScOp Venture’s and Blueprint Equity’s investments in Tovuti LMS speak volumes to what we have built thus far and will enable us to enhance our clients’ online learning environments in order to develop the best possible outcomes from online learning.  

Troy McClain, founder and CEO of Tovuti LMS

Tovuti LMS was founded on the premise that building learning management systems should be simple to install for administrators and successful for employees to utilize. Tovuti LMS will develop next-level learning environments entertaining and informative for end-users as it grows from a full-service LMS to a next-generation learning experience platform.

It will also enable businesses to create and manage engaging courses for their complete learning and training program from a single location. Tovuti LMS will be positioned as one of the finest learning platform brands globally as a result of these advancements.

From the beginning our motto has been to inspire, uplift and serve our clients, team members, community and the world alike. We believe placing people at the center of our focus will create a positive outcome every time, and this round of funding will allow us to do even more of that.

Troy McClain, founder and CEO of Tovuti LMS

Tovuti LMS experienced 3x year-over-year growth last year and is on pace to continue growing rapidly in 2021. Though, what stuck out to us was Tovuti LMS’s unmatched culture that has reverberated with employees and clients. It’s no surprise they received the Best Place to Work in Idaho” in both 2020 and 2021.

Sheldon Lewis, managing partner of Blueprint

Building something out of nothing is not impossible, but certainly few have been able to discover the true process to map innovation all the way to success. What Troy and the Tovuti LMS team have shown us is they have what it takes to build this next-generation LMS software. We love the software, we love the team, we love the culture, and we love Boise. It is a great match for us top to bottom.

Kevin O’Connor, managing partner of ScOp Venture Capital, who also joined Tovuti LMS’s board

Tovuti LMS assists some of the world’s top companies, including HCL, Summit Mortgage, VMG, Shakeys Pizza, and Brightstar, in transferring knowledge and speeding up learning curves to grow smoothly. As hybrid workforces become more common, digital information transfer between teams and organizations is becoming increasingly crucial.

More than 300 corporate firms across the world utilize Tovuti LMS’s online learning environment to develop, implement, and track the performance of employee training courses, as well as engage with both internal teams and external suppliers and customers.

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