SaaS tech startup Trainual raises $27M from “Shark Tank” Star Daymond John, others, to help modernize training and onboarding for SMBs

Onboarding new hires has always been a critical step in converting new hires into long-term employees, which in turn increases employee engagement and retention rates. Unlike bigger companies, however, several studies have shown that most small and medium-sized businesses (SMBs) don’t have a streamlined and managed process in place to onboard new hires. That’s why that this Scottsdale, Arizona-based SaaS startup is on a mission to help SMBs tackle their training and onboarding challenges.

Trainual is a SaaS platform that transforms the way small businesses onboard, train, and scale teams. Trainual was founded just three years ago by  Chris Ronzio and Jonathan Ronzio as a software platform to help businesses build playbooks to train and grow their team.

Today, Trainual announced it has closed a $27M Series B investment led by Altos Ventures, with participation from several notable investors including “Shark Tank” Star Daymond John, Indeed Co-Founder Rony Kahan, and PandaDoc CEO Mikita Mikado, among others. The round also featured continued support from Series A investors 4490 Ventures, MATH Venture Partners, and PHX Ventures.

This round follows Trainual’s $6.75 million Series A and brings the company’s total funding to $33.75 million. Trainual will use the fresh capital infusion to double down on product innovations and make building a business playbook even easier. To better serve its rapidly growing customer base of savvy entrepreneurs, Trainual also plans to fill more than 50 new roles across all departments over the next year.

“There is software for tracking your customers, your finances, your marketing, and your communications, but what about how everything in your business actually works? Businesses can’t grow on scattered documents, or spend their time looking over their peoples’ shoulders, especially in a hybrid or remote world,” said Chris Ronzio, Founder and CEO of Trainual. “Our platform keeps teams aligned and accountable by equipping them with the answers they need to do their jobs autonomously. That way, business owners can finally step out of the daily operations and focus on growing their business.”

A Glassdoor study found that organizations with strong onboarding processes improved new hire retention by 82% and boosted productivity by more than 70%. Trainual is dedicated to reshaping the onboarding and training experience for today’s hybrid workforce. The platform makes it easy to design and implement interactive, self-led training content, as well as organize company knowledge in one, easy-to-access interface.

Spurred by workplace shifts and a surge in remote work, Trainual experienced rapid growth over the past year, doubling its YoY revenue. The global labor shortage has been driving unprecedented demand for tools to help employers attract, manage and retain talent, creating a market primed for continued growth. Trainual now serves more than 5,500 businesses across countless industries in 177 countries.

“I wish Trainual was around when I was starting and scaling my company. It’s a game-changer that is going to save growing businesses a ton of time, allowing them to focus on the most crucial aspects of building their companies,” said Daymond John, CEO of The Shark Group. “The team at Trainual gets what it takes to scale a small business. For me, their shared passion for empowering entrepreneurs make this partnership a natural fit.”