Territorium, a global education technology leader, recently announced that it has raised $4.4 million in a seed round led by Cometa, a venture capital firm that only invests in the leading Hispanic company in each industry globally.
With this investment, the Texas-based company plans to drive US growth and adoption of TerritoriumCLR, its comprehensive learner record product.
Co-founded by Guillermo Elizondo and Gerardo Saenz, Territorium is a profitable and privately-held firm with more than 9 million users worldwide. The company's purpose is to unleash the power of learning by focusing on the results of learning. These results are job knowledge, competencies, skills, and credentials that drive employment of job seekers and students. It helps millions of users understand and eliminate their competencies and skills gap towards their desired career or job.
Territorium makes learning and skills acquisition more accessible and measurable. Its vision is to transform the life of anyone who wants to grow and succeed. The Territorium ecosystem of solutions supports all individuals in their education and career journey. Territorium’s solutions support competency-based learning, and skills attainment and measurement, both in-person and online.
Commenting on the funding, Co-founder & CEO of Territorium, Guillermo Elizondo, said:
"We are excited for Cometa's investment in Territorium's CLR platform. The funding not only signifies how strongly Cometa believes in our mission, but also allows us to provide more students with a lifelong record of learning — both in and out of the classroom — giving them an advantage in the pursuit of their college and career goals, which is our ultimate goal."
TerritoriumCLR can also help employers identify the best candidates for their open positions by showcasing each person's strengths, skills, and competencies in a much more comprehensive manner than a traditional resume. As employers seek skills as much as direct experience, especially from new graduates and non-traditional learners, it helps crystallize the picture of each candidate in an unbiased manner and can help provide insight into performance and aptitude.
Managing Partner, Cometa, Rafael de Haro, added:
"Territorium is helping to build a new level of trust and transparency in what students are truly learning and the skills they are bringing to the work world. We are honored to invest in Territorium and strongly believe that this funding will help the team solve the limitations of academic transcripts and resumes as evidence of student learning and help create more equitable outcomes for future generations."
This is one of the first major investments in Comprehensive Learner Records and comes at a pivotal time, as employers are looking for more ways to get a more well-rounded view of job candidates that can bolster the traditional resume. These records provide higher education institutions and students with a more comprehensive and digital way to communicate academic achievements, soft skills, educational experiences, and work histories.
Earlier this year, Territorium had announced a partnership with non-profit Credential Engine to expand its business based on providing students lifelong records of achievement regarding competencies and skills. The latest funding is the company's first third-party party investment, bringing its total raised to $5 million, to date.