360Learning, a Paris-based collaborative learning platform, announced that it has raised $200 million from Sumeru Equity Partners, SoftBank Vision Fund 2 and Silver Lake Waterman.
The round also saw participation from existing investors including Bpifrance, XAnge and Educapital. The company did not disclose its latest valuation.
With this fresh capital, the company plans to hire more people, expand into the US market.
Founded in 2013 by Nick Hernandez, 360Learning provides executives with the tools needed to create unique learning experiences and share knowledge between teams. Learners collaborate in social environments, participate in learning communities, and are actively engaged in bite-sized, fun content.
With the 360Learning engagement platform, everyone can create a course, make it look compelling, and share it with their communities of learners.
More than 1,500 global 360Learning corporate customers, including LVMH, Aircall, Toyota, and Appen, are reinventing their learning cultures by espousing collaborative learning combined with AI and data instead of top-down thinking. 360Learning courses receive an average 95 per cent Relevance Score and offer learners exciting, evolving, and always up-to-date learning experiences. The Company leverages AI to analyse significant data set records gathered from collaborative learning interactions and combines it with learners’ feedback ensuring a custom-made, up-to-date and expedited course to be delivered.
Commenting on the funding, Founder and CEO of 360Learning, Nick Hernandez, said,
"Our engagement figures show that with the right learning approach and technology, L&D becomes a driver of growth. Learners take control of their own learning, and their companies thrive and lead in the new hybrid work environment. We’re delighted to welcome a brilliant new set of investors from three different continents to help us spearhead a transformative breakthrough in the learning market."
Over the last few years, 360Learning has proactively invested in collaborative learning reforms. The company has been working towards revolutionising the approach of companies towards learning and development, making it bottom-up instead of top-down and embedding this in company culture.
Responding to the latest fundraise, Sumeru Equity Partners said in a press statement, "We are sincerely thrilled to partner with Nick, the management team, and a terrific investor group as 360Learning illuminates the limitless possibilities of collaborative learning in this next era of corporate education."
360Learning also plans to employ over 500 people by the end of next year. The company is also looking to expand overseas in regions like North America, Asia, Europe, and South America.
In 2019, 360Learning had secured $41 million as a part of its Series B funding from Bpifrance, Hi Inov – Dentressangle, XAnge, Educapital, and ISAI. The startup's latest funding brings its total raised over $240 million (approx €206 million).