Ottawa-based LearnExperts, a learning technology startup, has raised C$1.25 million in seed-stage financing. The round was backed by Sand Hill North, MaRS Investment Accelerator Fund, Capital Angel Network, Maple Leaf Angel Network and Georgian Angel Network. LearnExperts’ platform uses artificial intelligence to achieve rapid course creation.
OTTAWA, Sept. 13, 2021 (GLOBE NEWSWIRE) — LearnExperts, developers of a creator platform that achieves rapid course creation through artificial intelligence (AI), announced the close of its oversubscribed $1.25M seed round with participation from Sand Hill North, MaRS IAF, and Capital Angel, Maple Leaf Angel, and Georgian Angel networks, including six women investors.
As demand for digital training solutions explodes, many learning technology companies are reporting 50 per cent growth in a market estimated to be worth $25B by 2025.
LearnExperts will use this investment to accelerate their market lead within the sector.
After 20 years working at technology companies such as Cognos, IBM, PTC, and Kinaxis, LearnExperts founder Sarah Sedgman decided in 2019 to leave the comforts of corporate life and fulfill a mission to disrupt the learning technology space.
“Years ago, when I was head of course development, I received a call from the CEO who needed my help because we were acquiring customers and releasing new features quickly, but our training lagged six to nine months after product release, which meant we couldn’t train our customers fast enough to get immediate value from our software and we risked losing them as customers,” said Sedgman.
While she was able to reengineer the course development process to ensure launch alongside the product release, which had a positive impact on customers, it was still a manual process and very time-consuming, taking months to develop the content and release the courses.
Sedgman’s experiences led to the development of a digital course creation platform that automatically transforms existing content into a course. LearnExperts guides the user to create a complete course with best practices applied through proprietary artificial intelligence. Starting with existing content that wasn’t purpose-built for learning, the output is a consistent, ready-to-use course that looks just like an expert built it. LearnExperts cuts the time to create and launch a new course from months to days.
“We saw the value in LearnExperts immediately and knew that we wanted to be the lead investor,” said Ryan Henry, Partner at Sand Hill North. “We look for innovative technology companies that are reshaping the future of work for the better. The LearnExperts platform saves course creators days of effort and empowers them to easily build high-quality consistent courses.”
LearnExperts Secures Large Enterprise Customers within First Year
When LearnExperts began demonstrations of the platform, the interest was overwhelming, and customers wanted the solution right away. Originally planning to bootstrap the business, Sedgman decided to accelerate and raise capital. Now, the company is backed by an oversubscribed investment round and achieving steady customer acquisition.
“We were impressed by the team’s deep domain expertise coupled with a unique solution to address the challenge of developing content at a rapid pace,” said Kevin Madill, Investment Director, MaRS IAF. “We are excited to participate in this latest funding round, support the team, and be part of the LearnExperts journey.”
“What I love about Sarah is her passion, her thought leadership and energy. What I love about her and her team is that they’ve done this before within large technology corporations,” said Julia Elvidge, board member for Capital Angel Network. “We are excited to support LearnExperts and believe they have the right solution at the right time to deliver differentiated value to large companies around the world.”
“I have been selling software solutions for many years and when I met Sarah and her team, I saw a large opportunity for their platform to provide immediate value in an exploding market,” said Jim Brown, active Georgian Angel Network investor. “Their system is unique and their go to market strategy is strong, and I look forward to partnering alongside Sarah and her team with any advice needed.”
“I want to thank the Canadian Investor Community, Invest Ottawa, and several industry experts for the tremendous support,” said Sedgman. “Our investors Sand Hill North, MaRS IAF, Capital Angel Network, Maple Leaf Angel Network, Georgian Angel Network and the independent investors are strategic, savvy investors and have already become great partners.”
About Sand Hill North
Sand Hill North is an early-stage venture investment firm focused on supporting companies leveraging software to create solutions in the B2B space that will have a positive impact. They’re a team of founders and business operators who understand early-stage challenges. They partner with visionary entrepreneurs, running businesses with high growth potential, and an unrelenting commitment to ethical standards. For more information, please visit: https://sandhillnorth.vc/.