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Talent Development Platform GrowthSpace Announces $25 Million in Series B Funding
The outcome-focused talent development technology company achieves 5X ARR growth within 12 months of Series A funding
NEW YORK, August 16, 2022-- GrowthSpace, the world's first outcome-focused talent development platform, today announced $25 million in Series B funding led by Zeev Ventures. Existing investors M12 (Microsoft's venture fund) and Vertex Ventures participated in this round, which brings the total amount raised to $44 million.
"We're thrilled with the Series B investment led by Oren Zeev, that enables us to continue partnering with hundreds of forward-thinking companies looking to strengthen investments in the future of their employees, who will be able to drive business KPIs and impact performance through our outcome focused talent development platform," stated Omer Glass, CEO and Cofounder of GrowthSpace. "The demand for our solutions is strong as we achieved a 5x ARR growth in the last 12 months. Additionally, we have built a network of 1,500 experts in over 50 countries, and look forward to expanding our reach and impact even further."
The funds will be used to scale global operations to help meet the rapidly accelerating demand of the G2 category leader. The GrowthSpace talent development platform connects employees to relevant experts at scale, solving a major challenge in a $360* billion+ market. As a market leader in supporting employee professional growth, Growthspace platform understands the challenge of an individual or a group and leverages sophisticated algorithms to match them with a proven, relevant expert for a development sprint. This can then be implemented dynamically and at scale, across an entire organization.
The platform can be implemented modularly to address specific requirements or set up as a comprehensive solution, enabling companies to plan and execute various talent development programs. Customers can utilize individual and group coaching, mentoring (internal & external), training, workshops, and lectures. GrowthSpace enables HR and organizational development executives to dynamically allocate resources and funds between different types of programs based on corporate goals and people requirements. This enables a centralized wallet powering a decentralized system that can be driven by each individual and team.
"In these times of uncertainty, I am very selective with my investments," said Oren Zeev, founding partner of Silicon Valley-based Zeev Ventures. "It has never been more crucial for employers to focus on their talent and align professional development to business performance. I invest where I see a real potential for disruption, and that is exactly the opportunity I see here. GrowthSpace has the vision, product, and team necessary to make this happen."
Over 95% of employees who have experienced a GrowthSpace program and 90% of their direct managers have reported improvement in desired business outcomes. Additionally, the platform drives measurable impact on the KPIs that the organization prioritizes e.g. performance, throughput, ENPS and various business KPIs.
"Companies of all sizes strive to realize value from learning and development programs, while employees want and need solutions that will help them achieve their next career goals," said Michelle Gonzalez, CVP and Global Head of M12, Microsoft's venture fund. "The GrowthSpace platform provides an effective learning and development framework that helps drive and measure the true ROI of employee development and advanced people analytics. Their solution is a breakthrough because it brings professional, personalized development to every employee, at scale, and the company has built an impressive track record in a short time."
"Platforms like GrowthSpace have the potential to bring a varied set of skills and outcomes into organizations, enabling talent development in a highly scalable way", said Josh Bersin, Founder and CEO of The Bersin Group.
GrowthSpace was founded on the belief that the future of professional development needs to drive business outcomes. The platform is designed modularly and supports any number of development programs that our clients utilize, including 1:1 and group coaching, internal mentoring, group training and workshops. Leveraging the world's most robust talent development dataset and network of global experts, GrowthSpace helps employees and teams achieve performance at scale. Hundreds of customers currently realize the benefits of the GrowthSpace platform, including Siemens, Microsoft, EY, Johnson & Johnson, Zoominfo, and Lightspeed.
*Source: HR Predictions for 2022, The Josh Bersin Group
Media Contact for GrowthSpace
UK: +44 7771 926726