May
18
2020
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GO1, an enterprise learning platform, picks up $40M from Microsoft, Salesforce and more

With a large proportion of knowledge workers doing now doing their jobs from home, the need for tools to help them feel connected to their profession can be as important as tools to, more practically, keep them connected. Today, a company that helps do precisely that is announcing a growth round of funding after seeing engagement on its platform triple in the last month.

GO1.com, an online learning platform focused specifically on professional training courses (both those to enhance a worker’s skills as well as those needed for company compliance training), is today announcing that it has raised $40 million in funding, a Series C that it plans to use to continue expanding its business. The startup was founded in Brisbane, Australia and now has operations also based out of San Francisco — it was part of a Y Combinator cohort back in 2015 — and more specifically, it wants to continue growth in North America, and to continue expanding its partner network.

GO1 not disclosing its valuation but we are asking. It’s worth pointing out that not only has it seen engagement triple in the last month as companies turn to online learning to keep users connected to their professional lives even as they work among children and house pets, noisy neighbours, dirty laundry, sourdough starters, and the rest (and that’s before you count the harrowing health news we are hit with on a regular basis). But even beyond that, longer term GO1 has shown some strong signs that speak of its traction.

It counts the likes of the University of Oxford, Suzuki, Asahi and Thrifty among its 3,000+ customers, with more than 1.5 million users overall able to access over 170,000 courses and other resources provided by some 100 vetted content partners. Overall usage has grown five-fold over the last 12 months. (GO1 works both with in-house learning management systems or provides its own.)

“GO1’s growth over the last couple of months has been unprecedented and the use of online tools for training is now undergoing a structural shift,” said Andrew Barnes, CEO of GO1, in a statement. “It is gratifying to fill an important void right now as workers embrace online solutions. We are inspired about the future that we are building as we expand our platform with new mediums that reach millions of people every day with the content they need.”

The funding is coming from a very strong list of backers: it’s being co-led by Madrona Venture Group and SEEK — the online recruitment and course directory company that has backed a number of edtech startups, including FutureLearn and Coursera — with participation also from Microsoft’s venture arm M12; new backer Salesforce Ventures, the investing arm of the CRM giant; and another previous backer, Our Innovation Fund.

Microsoft is a strategic backer: GO1 integrated with Teams, so now users can access GO1 content directly via Microsoft’s enterprise-facing video and messaging platform.

“GO1 has been critical for business continuity as organizations navigate the remote realities of COVID-19,” said Nagraj Kashyap, Microsoft Corporate Vice President and Global Head of M12, in a statement. “The GO1 integration with Microsoft Teams offers a seamless learning experience at a time when 75 million people are using the application daily. We’re proud to invest in a solution helping keep employees learning and businesses growing through this time.”

Similarly, Salesforce is also coming in as a strategic, integrating this into its own online personal development products and initiatives.

“We are excited about partnering with GO1 as it looks to scale its online content hub globally. While the majority of corporate learning is done in person today, we believe the new digital imperative will see an acceleration in the shift to online learning tools. We believe GO1 fits well into the Trailhead ecosystem and our vision of creating the life-long learner journey,” said Rob Keith, Head of Australia, Salesforce Ventures, in a statement.

Working remotely has raised a whole new set of challenges for organizations, especially those whose employees typically have never before worked for days, weeks and months outside of the office.

Some of these have been challenges of a more basic IT nature: getting secure access to systems on the right kinds of machines and making sure people can communicate in the ways that they need to to get work done.

But others are more nuanced and long-term but actually just as important, such as making sure people remain in a healthy state of mind about work. Education is one way of getting them on the right track: professional development is not only useful for the person to do her or his job better, but it’s a way to motivate people, to focus their minds, and take a rest from their routines, but in a way that still remains relevant to work.

GO1 is absolutely not the only company pursuing this opportunity. Others include Udemy and Coursera, which have both come to enterprise after initially focusing more on traditional education plays. And LinkedIn Learning (which used to be known as Lynda, before LinkedIn acquired it and shifted the branding) was a trailblazer in this space.

For these, enterprise training sits in a different strategic place to GO1, which started out with compliance training and onboarding of employees before gravitating into a much wider set of topics that range from photography and design, through to Java, accounting, and even yoga and mindfulness training and everything in between.

It’s perhaps the directional approach, alongside its success, that have set GO1 apart from the competition and that has attracted the investment, which seems to have come ahead even of the current boost in usage.

“We met GO1 many months before COVID-19 was on the tip of everyone’s tongue and were impressed then with the growth of the platform and the ability of the team to expand their corporate training offering significantly in North America and Europe,” commented S. Somasegar, managing director, Madrona Venture Group, in a statement. “The global pandemic has only increased the need to both provide training and retraining – and also to do it remotely. GO1 is an important link in the chain of recovery.” As part of the funding Somasegar will join the GO1 board of directors.

Notably, GO1 is currently making all COVID-19 related learning resources available for free “to help teams continue to perform and feel supported during this time of disruption and change,” the company said.

Feb
05
2020
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Where top VCs are investing in open source and dev tools (Part 1 of 2)

The once-polarizing world of open-source software has recently become one of the hotter destinations for VCs.

As the popularity of open source increases among organizations and developers, startups in the space have reached new heights and monstrous valuations.

Over the past several years, we’ve seen surging open-source companies like Databricks reach unicorn status, as well as VCs who cashed out behind a serious number of exits involving open-source and dev tool companies, deals like IBM’s Red Hat acquisition or Elastic’s late-2018 IPO. Last year, the exit spree continued with transactions like F5 Networks’ acquisition of NGINX and a number of high-profile acquisitions from mainstays like Microsoft and GitHub.

Similarly, venture investment in new startups in the space has continued to swell. More investors are taking shots at finding the next big payout, with annual invested capital in open-source and dev tool startups increasing at a roughly 10% compounded annual growth rate (CAGR) over the last five years, according to data from Crunchbase. Furthermore, attractive returns in the space seem to be adding more fuel to the fire, as open-source and dev tool startups saw more than $2 billion invested in the space in 2019 alone, per Crunchbase data.

As we close out another strong year for innovation and venture investing in the sector, we asked 18 of the top open-source-focused VCs who work at firms spanning early to growth stages to share what’s exciting them most and where they see opportunities. For purposes of length and clarity, responses have been edited and split (in no particular order) into part one and part two of this survey. In part one of our survey, we hear from:

Oct
22
2018
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Pulumi raises $15M for its infrastructure as code platform

Pulumi, a Seattle-based startup that lets developers specify and manage their cloud infrastructure using the programming language they already know, today announced that it has raised a $15 million Series A funding round led by Madrona Venture Group. Tola Capital also participated in this round and Tola managing director Sheila Gulati will get a seat on the Pulumi board, where she’ll join former Microsoft exec and Madrona managing director S. Somasegar.

In addition to announcing its raise, the company also today launched its commercial platform, which builds upon Pulumi’s open-source work.

“Since launch, we’ve had a lot of inbound interest, both on the community side — so you’re seeing a lot of open source contributions, and they’re really impactful contributions, including, for example, community-led support for VMware and OpenStack,” Pulumi co-founder and CEO Eric Rudder told me. “So we’re actually seeing a lot of vibrancy in the open-source community. And at the same time, we have a lot of inbound interest on the commercial side of things. That is, teams wanting to operationalize Pulumi and put it into production and wanting to purchase the product.”

So to meet that opportunity, the team decided to raise a new round to scale out both its team and product. And now, that product includes a commercial offering of Pulumi with the company’s new ‘team edition.’ This new enterprise version includes support for unlimited users, integrations with third-party tools like GitHub and Slack, as well as role-based access controls and onboarding and 12×5 support. Like the free, single-user community edition, the team edition is delivered as a SaaS product and supports deployments to all of the major public and private cloud platforms.

“We’re all seeing the same things — the cloud is a foregone conclusion,” Tola’s Gulati told me when I asked her why she was investing in Pulumi. “Enterprises have a lot of complexity as they come over the cloud. And so dealing with VMs, containers and serverless is a reality for these enterprises. And the ability to do that in a way that there’s a single toolset, letting developers use real programming languages, letting them exist where they have skills today, but then allows them to bring the best of cloud into their organization. Frankly, Pulumi really has thought through the existing complexity, the developer reality, the IT and develop a relationship from both a runtime and deployment perspective. And they are the best that we’ve seen.”

Pulumi will, of course, continue to develop its open source tools, too. Indeed, the company noted that it would invest heavily in building out the community around its tools. The team told me that it is already seeing a lot of momentum but with the new funding, it’ll re-double its efforts.

With the new funding, the company will also work on making the onboarding process much easier, up to the point where it will become a full self-serve experience. But that doesn’t work for most large organizations, so Pulumi will also invest heavily in its pre- and post-sales organization. Right now, like most companies at this stage, the team is mostly composed of engineers.

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