360Learning, a collaborative learning SaaS provider, announced a $200 million growth investment led by Sumeru (Sumeru Equity Partners), SoftBank Vision Fund 2 and Silver Lake Waterman with participation from existing investors Bpifrance Large Venture, XAnge and Educapital.
According to the company, its platform empowers learners to build their own skills, create courses in as few as 17 minutes and share knowledge throughout the business.
Customers have created over 3 million courses on the platform, with the most popular topics including employee onboarding, software training, sales enablement, leadership training and soft skills.
As learners go through each course, they can add comments, answer questions and send one-click reactions to the course creator - driving high engagement and retention, with an average course completion rate of 91% on the platform.
360Learning also leverages AI to analyze significant data sets created from collaborative learning interactions and applies these insights to help learning communities identify what courses are missing or need to be improved, speed up course delivery, ensure learners find courses tailored to their immediate needs and keep growing through constant learning.
The company claimed over 1,500 customers including LVMH, Aircall, Toyota and Appen use the platform globally.
The new funding brings the total raised by 360Learning to over $240 million. The company will use the funding to grow the team to over 500 people by the end of next year driven by hires in innovation, engineering and product; expand internationally across North America, Asia, Europe and South America; and invest in strategic M&A.