The European Learning Management System or LMS’s market growth is mostly attributed to the growing adoption of e-learning in training the employees. LMS software applications are designed to develop, manage, and track the report of educational courses and training programs.
According to a report, the market for Europe LMS is expected to reach $714.26M (approx €602.9M) by 2025, growing at a CAGR of 17.07% from 2020 to 2025. LMS is segmented into collaborative learning, content management, talent management, performance management, assessment, testing, and others.
The report also suggests that the global pandemic has impacted the adoption of digital learning technologies for the employees. The significant number of cases in the European region has resulted in the countries lockdown which created a dire need in the employment of the LMS in training newly recruited employees thereby impacting the growth of the market.
Cloud-based LMS Raises €47.2M
In a recent development, a Dublin-based company LearnUpon – a cloud-based LMS has received a $56M (approx €47.2M) growth equity investment from Summit Partners.
Additionally, Antony Clavel, a Principal with Summit Partners, will be joining the LearnUpon Board of Directors.
The raised capital will be used by the company to boost its hiring, meet customer demand, and support the continued roll-out of its products.
Let’s learn about LearnUpon
The company was founded in 2012 by Brendan Noud and Des V. Anderson. LearnUpon was founded on the belief that a learning management system should be intuitive for users, quick and seamless to set up, and delivered with industry-leading customer support. The company’s LMS helps to train employees, partners, and customers.
LearnUpon is designed to enable more efficient delivery, tracking, measurement, and certification across numerous learning use-cases, including employee development, customer onboarding, partner education, and compliance training, all of which have traditionally been managed across different systems.
“We believe every learning opportunity should be an experience that advances employee, partner and customer success, and LearnUpon is purpose-built to help organisations of all sizes achieve this goal,” says Brendan Noud, CEO, and co-founder of LearnUpon.
Development and expansion
The business currently employs 180 people across four offices – Dublin (HQ), Philadelphia, Sydney, and Belgrade – including more than 70 engineering and product development professionals.
Besides, it expects to add more than 100 engineers over the next 18 months to support continued product expansion.
Noud mentions in a blogpost that LearnUpon has grown its annual recurring revenues by more than 50% year-on-year for each of the last 12 quarters. It has more than 1,000 customers worldwide, including Booking.com, Twilio, USA Football, and Zendesk.
According to him, the company also has 5-star ratings across Capterra, G2Crowd, GetApp, and TrustRadius.
Image credit: LearnUpon
