Skilljar Announces $33 Million Series B Funding Led by Insight Partners
SEATTLE--(BUSINESS WIRE)--Skilljar, the leading Customer Education Platform, today announced that it has raised $33 million in Series B funding. Insight Partners led the funding round with participation from existing investors Mayfield, Trilogy Equity Partners, and Shasta Ventures. Skilljar will use the new funding to expand its team, fuel go-to-market programs, and accelerate product development. As part of the financing, Jonathan Rosenbaum, Vice President at Insight Partners, will join Skilljar’s Board of Directors.
“The community of learners engaging with products and services through virtual channels has grown exponentially in the New World of Work that we’re currently experiencing. This is a persistent trend that’s changing how companies interact with their customers and partners,” said Skilljar CEO and Co-founder, Sandi Lin. “Businesses are increasingly viewing Customer and Partner Education as a highly scalable driver of product adoption, customer retention, and revenue generation. Skilljar’s growth is a testament to the relevance of our mission and we’re excited to continue helping organizations, individuals, and society transform innovation into impact through education."
“Software-driven Customer Education and training drives meaningful ROI - it leads to both increased adoption and greater customer retention of a product and service while also reducing support costs and need for more expensive in-person training,” said Rosenbaum. “Skilljar has a sole focus on external-facing education and training, allowing enterprises to better onboard and train their customers. This has led to product leadership with respect to key features and integrations that differentiate the external-facing use case. The sustained momentum across many industry verticals coupled with best in class retention characteristics strongly validates the tremendous opportunity in this market. We are excited to be supporting Skilljar in its mission to define and grow the Customer Education category.”
Founded by Amazon veterans, Sandi Lin and Jason Stewart, Skilljar is an innovative training platform that enables businesses to onboard, engage, and retain customers at scale. Leading SaaS and technology providers such as Tableau, Zendesk, U-Haul, Verizon, Procore, Cisco, and hundreds more rely on Skilljar to power their Customer and Partner Education programs. Driven by the recent increases in remote work and virtual Customer Education, Skilljar has recently seen a record year-over-year increase of 229% in new bookings and a 290% increase in total training hours delivered on the platform.
“As a result of Skilljar, we now have an answer for customers that want an on-demand, online onboarding experience or desire to get certified without attending an in-person course. We can also help our customers continue to learn and adopt new features after implementation,” said Randon Ruggles, Senior Manager, Customer Education at Jamf. “It is also incredible to see how Skilljar is a name that everyone in our organization knows - because of the impact it has had on our customers. We could not have achieved the gains mentioned above without the Skilljar product and the support of their incredible team.”
Skilljar’s platform data and a recent industry survey both reinforce the growing importance of the Customer Education discipline. The survey indicates that the discipline is evolving fast and aligns well with business initiatives like improving customer engagement and accelerating time to value. The COVID-19 pandemic is further increasing organizational interest and investments in software-driven Customer Education, and respondents believe that this trend will continue.
This funding announcement comes on the heels of the third annual Skilljar Connect conference, the premier event for Customer Education professionals and industry leaders. Skilljar was also recently recognized by G2 as an Overall Leader in the Corporate LMS category and as a Momentum Leader in the Customer Success category.
To learn more about how Skilljar can help power customer and partner education, please visit www.skilljar.com.
Skilljar delivers an innovative training platform which enables businesses to provide scalable and effective Customer Education. The enterprise-grade solution is used by hundreds of companies to accelerate customer onboarding and product adoption by enabling multimedia course creation, an intuitive and mobile-responsive learning environment, and automated CRM data integrations. Founded in 2013, Skilljar is based in Seattle and backed by top-tier venture capital firms Insight Partners, Mayfield, Trilogy Equity Partners, and Shasta Ventures. For more information, visit www.skilljar.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.