LearnUpon announced raising $56 million in a fundng round led by Summit Partners
LearnUpon, a Dublin, Ireland-based software developer of a learning management system, announced getting into an investment agreement of $56 million for a minority equity stake in the company.
The deal was made with the private equity house Summit Partners. Proceeds will be used to hire more people in the team as well as for expanding business in new markets.
LearnUpon, founded in 2012 by Brendan Noud and Des Anderson, developed a SAAS solution used by companies to deliver online training to their employees, customers, partners and resellers..The company has more that 1,000 customers, including Booking. com, Twilio and Zendesk.
Prior to this round, LearnUpon raised a €1.25 million seed investment round, backed by angel investors, Enterprise Ireland and the National Digital Research Centre (NDRC).