Northpass, a modern learning solution for driving business performance,
has secured $4 million in Series A funding led by Edison Partners, a New
Jersey-based growth equity investor. The funds will be used to
accelerate product development and adoption.
2018 was a breakout year for Northpass. The company achieved 100%
revenue growth and has plans to double again this year. Currently,
Northpass is relied on by over 200 companies, including some of the
world’s most innovative and disruptive brands such as Uber, Lyft,
Airbnb, Shopify, and Square.
“Modern learning tools have become essential for enabling today’s
front-line teams,” says Steve Cornwell, founder and CEO of Northpass.
“It’s all about enablement. High-growth companies need seamless
onboarding, increased retention, and improved customer satisfaction.
Northpass gives stakeholders the skills needed to truly drive business
success.”
While traditional learning management systems help with compliance
training and off-the-shelf course delivery, Northpass is focused on
serving the unique needs of high-growth companies in the on-demand and
SaaS space. Such companies are expanding quickly and need to develop
custom onboarding, training, or performance support programs, but often
lack prior experience with such initiatives.
The Northpass platform was built for scale, flexibility, and
ease-of-use, and was recognized by Capterra as one of the Top 20 most
user-friendly LMS platforms in 2018. Everything, from Northpass’ product
features to its customer success program, is designed to help modern
organizations easily create, deliver, and measure proprietary learning
programs.
“By aligning learning with business performance, Northpass is setting
itself apart from competition,” says Tom Vander Schaaff, General Partner
of Edison Partners. “Northpass has a clear vision, relentless work
ethic, and a culture built on strong values. We’re proud to partner with
Northpass and offer the Edison Edge platform to accelerate their already
exponential growth.”
Northpass is able to excel in the markets it serves because it’s
mobile-friendly, fully white-labeled, and easily integrates with
existing technology stacks. All of these features help provide a
seamless learning experience for partners, customers, and employees,
regardless of where or when they prefer to learn.
Because of its relentless focus on the challenges faced by today’s
high-growth companies and deep understanding of the modern workforce,
Northpass is ideally positioned to help organizations meet their
learners where they are in order to drive better business outcomes.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their
executive teams grow and scale successful companies. The firm’s
investment team brings extensive investing and operating experience to
each investment. Through a unique combination of growth capital and the Edison
Edge platform, consisting of operating centers of excellence, the
Edison Director Network, and executive education programs, Edison
employs a truly integrated approach to accelerating growth and creating
value for businesses. A team of experts in financial technology,
healthcare IT and enterprise solution sectors, Edison targets
high-growth companies with $5 to $25 million in revenue; investments
also include buyouts, recapitalizations, spinouts and secondary stock
purchases.
Edison’s active portfolio has created an aggregated market value
exceeding $10 billion. Edison Partners is based in Princeton, NJ and
manages more than $1.4 billion in assets throughout the eastern United
States.
About Northpass
Northpass
is modern learning software for training and enabling employees,
customers, and partners. The company’s intuitive and flexible platform
enables anyone, even one with no background in e-learning, to create and
deliver original online training programs that engage learners and
improve business outcomes. Along with its firm commitment to customer
success, Northpass enables customers to develop, launch, and manage
highly effective training programs that drive positive business results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190424005223/en/