Thinkific, the leading platform for creating and selling online courses, announced it has closed $22M in growth financing. The round was led by Vancouver-based Rhino Ventures, who were early investors in the company, and brings the total raised to date to $25M.
HR Technology News: TecHRseries Interview with Noel Hillman, Chief Revenue Officer at Spur
“Thinkific is central to our success and made it easy to build the training business I’d always dreamed of.”
Thinkific has been profitable since 2018 yet chose to raise additional funding to accelerate product innovation and continue shaping the future of online courses. “Thinkific is changing the face of digital commerce by empowering every entrepreneur and business to earn revenue and make a meaningful impact teaching what they know,” said Greg Smith, co-founder & CEO of Thinkific. Thinkific is also tripling its workforce, hiring an additional 350 team members over the next 18 months.
HR Technology News: United Bank Was Recognized As One Of The Best Companies To Work For In Alabama For The Second Year…
The financing comes at a time when the online course market (forecasted in 2019 to be worth $350B by 2025) has rapidly accelerated due to the Covid-19 pandemic. Since March, Thinkific has seen a 200% increase in online courses being created on its platform. Online training is skyrocketing across every industry – from solo-preneurs teaching guitar fundamentals, business coaching, and fitness training, to large organizations like commerce platform, Shopify, and social media platform, Hootsuite, who use Thinkific to teach their customers about entrepreneurship and social media.
“Despite the challenges of Covid-19, we’re seeing entrepreneurs use Thinkific to not only survive, but truly thrive,” said Greg. “Even before the pandemic hit, we were witnessing significant growth, but we’ve now seen the course creation industry change forever. A massive number of entrepreneurs are rapidly moving their offline businesses online to deliver exceptional teaching experiences to a new global audience. We’re also seeing a significant increase in the number of well-established businesses building out online training as a new revenue driver.”
HR Technology News: How The Covid19 Pandemic Affected The US Job Market