Lesson.ly Lands Big Boost
Max Yoder (pictured center) co-founded the company two years ago. Lesson.ly says it has "beanstalked" to 30 employees in that time.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe co-founder of Indianapolis-based Lesson.ly LLC says the company plans to invest a new $5 million round of funding "across the business." The learning automation software company says the infusion will help it add jobs and boost product innovation for its web-based portfolio. Max Yoder says the market is hungry for tools focused on the learner, "because to-date, they have been very difficult for growing companies to use." Yoder tells Inside INdiana Business the groundwork has been laid by Indiana tech industry predecessors.
The company currently has around 30 employees and expects to add 10 by year’s end.
Yoder says "in 2013 our first client created their first lesson, and today more than 200,000 employees are learning with Lesson.ly. This investment brings the capital and expertise we need to accelerate our learner-first technology and aggressively pursue our mission of helping people do better work so they can live better lives."
The Series A round of funding is led by Boston-based OpenView Venture Partners, with support from High Alpha in Indianapolis and Launch Fishers-based Allos Ventures. Lesson.ly says it has more than 250 customers, including Intuit Workforce, Trunk Club, Gusto, Thumbtack, NBC News and MSNBC.
OpenView Partner Ricky Pelletier will join Lesson.ly’s board. He says "one of the greatest challenges companies face as they grow and scale is ensuring their employees have the information and context needed to be successful in their jobs. Max and the Lesson.ly team have created a powerful solution that overcomes the challenge of employee learning by democratizing and automating the process."
Lesson.ly says research suggests the global corporate eLearning market could grow to north of $31 billion by 2020.
In 2014, Lesson.ly announced plans to invest more than $600,000 into its downtown Indianapolis headquarters, and adding more than 70 jobs by 2018.
The company is part of the Scott Dorsey-led portfolio of businesses at High Alpha, which also includes well-known names in the Indiana tech scene such as TinderBox and Sigstr.
Lesson.ly LLC CEO Max Yoder tells Inside INdiana Business the groundwork for the big infusion has been laid by its Indiana tech industry predecessors.