360Learning raises $200m for SaaS-based collaborative learning platform

360Learning has secured $200 million for its collaborative learning platform from a funding round led by Sumeru Equity Partners, Silver Lake Waterman, and SoftBank Vision Fund 2.

Existing investors of the collaborative learning SaaS company, which include Bpifrance Large Venture, Educapital, and XAnge also participated in the financing round, as per an announcement made in late October.

360Learning’s learning platform by combining collaborative tools with the power of a learning management system (LMS) is said to help high-growth firms to unlock learning based on collective expertise rather than top-down knowledge.

The company intends to use the capital from the funding round to expand its team to more than 500 people by the end of 2022. It will also use the proceeds to expand globally across North America, Europe, Asia, and South America, and invest in strategic mergers and acquisitions.

So far, 360Learning has raised capital of over $240 million.

Nick Hernandez — founder and CEO at 360Learning said: “By focusing on collaborative learning and combining it with AI and data, we’re radically changing how people learn in the workplace. Our engagement figures show that with the right learning approach and technology, L&D becomes a driver of growth.

“Learners take control of their own learning, and their companies thrive and lead in the new hybrid work environment. We’re delighted to welcome a brilliant new set of investors from three different continents to help us spearhead a transformative breakthrough in the learning market.”

360Learning boasts of having over 1,500 global customers including LVMH, Toyota, Aircall, and Appen.

Sanjeet Mitra and George Kadifa — Sumeru Co-Founders and Managing Directors said: “We believe that employee learning and development will be the single most important factor for enterprises in the next 25 years—enabling growth, building durable company cultures, accelerating innovation, and enhancing communities broadly.

“We are sincerely thrilled to partner with Nick, the management team and a terrific investor group as 360Learning illuminates the limitless possibilities of collaborative learning in this next era of corporate education.”