- Personalized Learning and Development Leader Doubles Revenue, Adds New Customers, Grows Headcount and Executive Team, and Closes $15 Million Series a in 2021
GrowthSpace, a global leader in personalized learning and development (L&D) programs, announced its ongoing market momentum, driven by strong demand for its data-driven platform.
During 2021, GrowthSpace has substantially increased its customer count and doubled revenue since its Series A funding round closed in May. GrowthSpace also added new customers, including Siemens, to its existing customer base, which includes GoFundMe, Monday.com, Check Point, Ernst & Young, Intel, Johnson & Johnson, and Nespresso.
GrowthSpace solves the toughest employee development and mentoring challenges through the world’s first AI-powered L&D platform for one-on-one, personalized programs that match each employee’s challenge with the right expert, coach or mentor. The comprehensive GrowthSpace solution integrates coaching, mentoring and training that is specifically tailored to employee needs, while incorporating manager feedback and simultaneously measuring progress toward business KPIs for more efficient and predictable results.
The rapid momentum of GrowthSpace’s platform aligns with today’s evolving workplace, which was dramatically reshaped by both the pandemic-driven migration to remote work and the “Great Resignation.”
“The fast pace of achievement here at GrowthSpace is thrilling but not surprising, given that we’re the first in the market to offer a data-driven and quick time to value approach,” commented Omer Glass, CEO and Co-Founder of GrowthSpace. “I am proud of our team because we have proven our solution. Growth with our existing customers, as well as the potential for entering new markets, has GrowthSpace poised for an exciting future in 2022 and beyond. We are now developing significant customer interest from verticals like mining, retail, pharmaceuticals, and life sciences, as well as hospitality, healthcare, telecom, and the consumer packaged goods industries,” Glass explained.
Ongoing Customer Enthusiasm
Customer enthusiasm for the GrowthSpace approach remains high. Some 96% of employees who have experienced a GrowthSpace program, along with 80% of direct managers, report improvement in desired business KPIs, according to internal research.
Customer Michelle Corbett, Director of People at Earthbound, said, “GrowthSpace has been a wonderful addition to our development offerings at Earthbound. With GrowthSpace, I can offer an incredible executive coaching experience to members of our team who wouldn’t typically be eligible,” she commented. “As a small company with a small HR team, GrowthSpace has given us the power to develop our employees and invest in their personal and professional growth. What’s more, the response has been incredible, and the quality of the experts and engagements is top-notch. I recommend GrowthSpace as a ‘must-have’ tool for employee development.”
GrowthSpace’s commitment to talent development included an emphasis on adding professional mentors to its platform during 2021. The company grew its “Expert Pool” by 50% during the year, now surpassing 1,000 mentors, coaches and trainers who offer employees actionable guidance and counsel. These experts are central to the GrowthSpace platform’s unique approach, which integrates more than 300 hard and soft competencies, taught in more than 40 languages across some 50 countries, to help employees improve job performance and satisfaction.
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Venture Investment and Headcount Expansion
The company closed a $15 million Series A investment round in May of 2021. The financing was co-led by Microsoft’s enterprise software venture fund M12 and Vertex Ventures, bringing total invested-in capital in GrowthSpace to $19 million and enabling the company to execute against its ongoing plans for global expansion.
The company also grew its global headcount by 20%, to a total of 50 employees. In addition, the company made strategic hires to bolster its executive management ranks, notably Etay Geller as VP of Product Management, an expert in scaling products and building teams at companies such as Chegg, Gigya and Minute Media; Inbar Yagur as VP of Marketing, a B2B SaaS marketing expert and team leader at companies such as Taboola, TrenDemon and Anyword (formerly Keywee). Tamar Sasson also joined GrowthSpace as Head of Customer Success, having previously held similar positions at Signals Analytics (acquired by Kenshoo) and The Economist, while Guy Ben-Bassat joined as Head of Finance, bringing private and publicly-traded company experience from organizations such as Yotpo Ltd., Nova Ltd., Prodalim Ltd., and Deloitte.
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