Seattle-based Skilljar secures $33M Series B funding led by Insight Partners to meet the growing demands for online learning as millions transition to remote work
Skilljar, a Seattle-based tech startup and provider of customer education platform, today announced that it has raised $33 million in Series B funding to expand its team, fuel go-to-market programs, and accelerate product development. The round was led by Insight Partners, with participation from existing investors Mayfield, Trilogy Equity Partners, and Shasta Ventures. In conjunction with the funding, Skillkar also announced that Jonathan Rosenbaum, Vice President at Insight Partners, will join its Board of Directors.
Founded in 2013 by Jason Stewart and Sandi Lin, Skilljar is a customer training platform for enterprises to accelerate product adoption and improve customer retention. Skilljar’s solution is used by leading SaaS and technology providers such as Tableau, Zendesk, U-Haul, Verizon, Procore, Cisco, and hundreds more rely on Skilljar to power their Customer and Partner Education programs. Driven by the recent increases in remote work and virtual Customer Education, Skilljar has recently seen a record year-over-year increase of 229% in new bookings and a 290% increase in total training hours delivered on the platform.
“The community of learners engaging with products and services through virtual channels has grown exponentially in the New World of Work that we’re currently experiencing. This is a persistent trend that’s changing how companies interact with their customers and partners,” said Skilljar CEO and Co-founder, Sandi Lin. “Businesses are increasingly viewing Customer and Partner Education as a highly scalable driver of product adoption, customer retention, and revenue generation. Skilljar’s growth is a testament to the relevance of our mission and we’re excited to continue helping organizations, individuals, and society transform innovation into impact through education.”
“Software-driven Customer Education and training drives meaningful ROI – it leads to both increased adoption and greater customer retention of a product and service while also reducing support costs and need for more expensive in-person training,” said Rosenbaum. “Skilljar has a sole focus on external-facing education and training, allowing enterprises to better onboard and train their customers. This has led to product leadership with respect to key features and integrations that differentiate the external-facing use case. The sustained momentum across many industry verticals coupled with best in class retention characteristics strongly validates the tremendous opportunity in this market. We are excited to be supporting Skilljar in its mission to define and grow the Customer Education category.”