WorkRamp Raises $17M To Usher in the Next Era of Corporate Learning and Development
OMERS Ventures leads round as remote work trends accelerate the demand for corporate learning
WorkRamp, the Enterprise Learning Platform, announced a $17 million Series B funding round led by OMERS Ventures, with additional participation from Bow Capital. The round brings WorkRamp’s total funding to over $27 million, with the new investment being used to accelerate R&D and go-to-market efforts to meet surging demand. Eugene Lee from OMERS Ventures will be joining the WorkRamp board, bringing over 15 years of operating experience to the leadership team.
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WorkRamp is disrupting the legacy Learning Management System (LMS) category, where companies spend over $20 billion a year on existing learning technology that is complex, outdated, and hard to use. In contrast, WorkRamp provides a consumer-grade learning experience, making corporate training much more engaging and relevant for today’s modern enterprises.
“When you ask someone about their corporate training, they typically have a horror story or bad experience to share,” said Ted Blosser, CEO and Co-founder at WorkRamp. “Our goal is to change the perception of learning to something that is engaging, bite-sized, and extremely relevant for your role. If we can accomplish that, we can enable companies to achieve their business outcomes by empowering their people.”
Innovative and fast-growing companies like Zoom, Box, and Reddit are choosing WorkRamp as their next-generation learning management system to enable sales, support, and L&D departments. Additionally, they are adopting new products like WorkRamp for Customers, WorkRamp’s purpose-built customer education product. With a full learning product suite, customers are able to consolidate multiple tools down to one, allowing them to have a much better user experience while simultaneously reducing costs.
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“Since 2000, we have seen three major technology shifts in the enterprise: the transition from on-premise to SaaS, the growth of mobile, and the most recent – sweeping digital transformation across almost every part of every business,” said Eugene Lee of OMERS Ventures. “The pandemic has forced adoption of a digital-first approach towards customers and employees across virtually all industries. WorkRamp’s platform is foundational to empowering both of these important audiences today and in the future. We are bullish on the massive opportunity in front of the company and are excited to get involved.”
WorkRamp will be using the new investment to strengthen its product leadership across its internal and external products, with deeper integrations into critical systems like Salesforce.com, Workday, and Zoom. It will also be investing in its go-to-market functions, with a heavy focus on driving business outcomes with its newly formed Client Outcomes and Professional Services teams.