Amsterdam-based AG5, a skills management company that helps organisations map employees and their skills for efficient scheduling, timely training, and compliance management, announced on Thursday that it has raised €1.2M in its latest round of funding.
The investment came from Peak, a European venture capital fund based in Amsterdam, Berlin, and Stockholm. The firm supports a variety of founders in Europe, focusing on early-stage SaaS, marketplaces and platforms. Peak’s investment portfolio consists of over 40 companies.
Johan van Mil, co-founder of Peak, says, “The skills gap is widening worldwide as more and more organisations have to meet stricter certification, compliance and sustainability (ESG) requirements. AG5 offers a scalable SaaS solution that provides insight into the skills gap per team, location or region. Thanks to AG5, employees can be scheduled based on their qualifications and receive the right training in time, besides enabling organisations to comply with international regulations for their relevant sector. We look forward to supporting the AG5 team in their ambitious growth path.”
AG5 says that the proceeds will help the company further develop its skills management software as well as accelerate its international expansion to support multinational clients.
In the next two years, the company aspires to double the size of its team and triple the number of clients it serves. To realise this vision, AG5 is recruiting new staff for key positions such as Head of Sales.
AG5 founder, Rick van Echtelt, says, “We have found our growth partner in Peak. Their deep market analysis showed us that the need for our platform worldwide is even greater than we had anticipated. The knowledge and expertise of growing SaaS platforms internationally, together with the people and company culture, is the perfect match for us to go and meet that need.”
Aims to close skills gap globally
Founded in 2019 by Rick Van Echtelt, AG5 has developed a skills management software for large and medium-sized organisations. According to Rick van Echtelt, “organisations struggle to create transparent and measurable insight into which employees are qualified to operate certain machinery or work on a given production line. Technological developments widen the skills gap and make qualifications more complex.”
This is where AG5 looks to make a difference. The company’s software maps employee competencies and the resulting skills gap to enable planning while recognising the existing knowledge and abilities of employees. The platform uses a number of dashboards to present relevant skills deficits and training programme overviews.
Currently, AG5’s platform is available in 15 languages and offers technical integration with SAP (as a certified partner), Moodle and other training management systems, such as Cornerstone.
AG5’s client list consists of international organisations with a minimum of 500 employees, such as Jacobs Douwe Egberts, KLM, and Toyota Boshoku. These companies are using AG5 to map the skills of employees to schedule them correctly, train them in time and ensure international regulation compliance.