Global spending on workplace learning and development, also known as human capital development and upskilling is estimated to be around $360 billion, according to data from Statista. One of the major challenges facing most organizations today is connecting employees to relevant experts at scale.
Enter GrowthSpace, the world’s first outcome-focused talent development platform that brings the power of data to personalized learning and development. By leveraging a robust talent development dataset and network of global experts, GrowthSpace helps employees and teams achieve performance at scale. The platform is currently being used in more than 30 countries worldwide.
Today, GrowthSpace announced it has closed $25 million in Series B funding led by Zeev Ventures. The round, which brings the total amount raised to $44 million, was also joined by existing investors including M12 (Microsoft’s venture fund) and Vertex Ventures.
GrowthSpace will use the funding proceeds to scale its global operations to help meet the rapidly accelerating demand of the G2 category leader.
Commenting on the funding, GrowthSpace CEO and co-founder Omer Glass said: “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.”
Glass added, “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 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 to power 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.
Founded in 2018 in New York, GrowthSpace’s 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.