Can we shake-up the learning industry for real ?
By : Nicolas Rose
Online training can have deep transformational impact. From individuals to organisations, anyone can keep-up with innovation whatever their location. But we need to update the whole process first. 360Learning is taking it to the next level with a sensational 41 millions $ series B round we’re very excited to be part of with Bpifrance, Hi-Inov, Educapital & ISAI.
Setting a new standard
Anyone who has participated in corporate training in the past years can testify: most tools are outdated and the overall experience is often dreadful. The reasons for this are cultural (a bland approach to education, “you must train”) as much as technological. The Corporate learning “niche” still relies on the SCORM standard, which hasn’t been updated since 2004. Think CD-ROM…
How can anyone deliver updated, personalized, quality content on a global scale in these conditions? We know how critical training is to HR departments, who need to onboard as many employees as possible in their digital transformation, but also to Sales teams to need to master new product offerings of their company. 360Learning is setting a new standard to go beyond these limitations. They do it with a new twist :
- A product inspired by social networks and everyday Tools
- With conversational features
- And endless formats possibilities: prezzy, ppt, slideshares, Youtube video, Web-sourced content, etc.
- And, of course, mobile for -on the go- training
Put it simply, they make it easier for organizations to create and broadcast training content to their teams around the world. Their biggest clients even have dedicated teams that make their own modules on 360Learning. We aren’t far from a V2 for professional e-learning!
B for Best of Breed
360Learning evolves on a market dominated by huge Talent Management Systems such as Successfactors (a SAP company) and Cornerstone, or Cegid & Talentsoft in France. They provide all-purpose suites to global companies, with tools ranging from career management to pay management, learning being just one of them. To succeed, the learning pure players have to prove that their solution is better than the one provided by the Talent Management System. This is what 360Learning is doing right now: it is becoming best of breed. Michelin, Axa or Safran would not say otherwise….
Saas is tricky (at first)
Because of the subscription nature of its SaaS revenues, cash comes in progressively, and so does profitability. You need to be very frugal as you develop your platform, and the same goes with your efforts to get new clients. The founding team, Nicolas, Guillaume and Sebastien have been brilliant at this game. How they managed to grow to 1200 clients in 160 countries (with a strong recurring revenue) in the past years is truly remarkable. Their level of maturity takes me a few years back, reminding me of the Neolane adventure that XAnge successfully backed. Good memories !
A ticket for the world
There’s a tipping point in a startup’s life, when the founders are ready to take on the challenge of going international. For 360Learning this moment is now. I met the team thanks to an introduction of Jean-David Chamboredon, an early investor from ISAI (along with 3T). He knows we love to take businesses abroad, such as what we did with Neolane, Prestashop, Codenvy and Sinequa… Not to mention ABTasty or Dolead who are also going for success in the US market as we speak.
How do I know 360Learning is ready ?
- First, they are now capable of working with global companies, starting with one entry-point and progressively addressing more and more countries around the world.
- Second, the team successfully managed to set foot in USA and in the UK, and secured their first clients in just a few months (Air Canada, KingFisher, …).
Going global is a tough challenge. But we know for sure that anything is possible with a strong team, a good methodology, organisational skills & solid funding. 360Learning has it all and we are very excited about this!
