PARIS — May 3, 2022 — Rise Up, the fast-growing employee learning software solution, has raised €30M with Connected Capital, a leading B2B SaaS focused investment fund, its previous investor MAIF Avenir and its first shareholder Impact Partners.
This second round of investment funding for the scale-up will further advance the company’s European growth, allowing the further expansion of the commercial organization and product suite as well as localization of its learning and development solutions for European markets.
Rise Up Co-Founder & CEO Arnaud Blachon explains, “As we continue to navigate the COVID-19 pandemic, hybrid learning is fundamental; Rise Up offers an inclusive learning platform that transforms this crucial business challenge into an opportunity for our customers. Our partnership with Connected Capital, with its focus on B2B SaaS, and their experience with HR tech companies in particular, will allow us to further strengthen our position in local European markets.”
Today, learning is one of the most fundamental business challenges and top of mind for both CEOs and employees. 79% of CEOs worldwide identify the lack of essential skills in their workforce as a threat for future growth (PWC), and the inability to learn and grow is the #1 reason for employees to look for a new job (Bersin and LinkedIn).
“Learning software solutions are increasingly relevant for organizations and Rise Up’s ability to serve customers with complex learning requirements — different user groups, (blended) learning formats, multiple entities and countries within one organization — differentiates them as the one learning solution easily accessible across the full organization,” added Sander Pennings of Connected Capital. “Rise Up’s rich product suite combining LMS, LXP and content authoring is already adding crucial value to companies ranging from SMEs to large corporations such as Axa, Schneider Electric and Domino’s. We are impressed with Rise Up’s efficient growth over the last years in its current markets and are excited to contribute to the company’s accelerated international expansion.”
Success Story: Integrated, Adaptive Learning with Stellar Customer Experience
Rise Up has roughly doubled both its revenues and staff every year since its creation in 2014. Today, its one-stop-shop learning solution, combining LMS, LXP, LRS, LCMS, mobile and multimodal services, serves over 400 customers and 1 million active learners in 60 countries. The reputation of Rise Up is based on ease-of-use, for both learners and administrators; easy product configuration, allowing customers to mirror their organizational structure in the platform; innovative technology, harnessing both Artificial Intelligence and Machine Learning; simple integration, with existing HR and business systems; and exceptional customer support. The human-first, AI-driven software solution offers each individual a personalized, adaptive approach to learning. Unique features, including an intuitive blended learning environment, a motivational chatbot and a Microsoft Teams integration, render the overall learning experience both positive and engaging. In addition, Rise Up creates positive social impact in local communities, expanding access to training by offering its platform to beneficiary associations and developing youth employment through both apprenticeships and professional immersions.
The Learning Industry: Full of Potential
The global learning and development industry will reach $402 billion by 2022 (Beroe Inc) and the European market is expected to grow in the mid-single digits annually over the next 3-5 years. With offices in Paris, London, Brussels, Amsterdam, Lisbon and Munich, Rise Up has begun to build a solid network across Europe, and the tech scale-up is targeting high growth in these markets. Rise Up was named a Core Challenger by the Fosway Group in its 9-Grid™ for Learning Systems, and an Accredited Learning Technologies Provider by The Learning and Performance Institute (LPI). Recognizing its growth, Rise Up was named to the Recrutement 2022 Palmares by Le Figaro as well as the TECH500 by Data Recruitment.
Prior to this Series B investment round, Rise Up raised less than 5 million euros since its launch in Paris in 2014. The company secured initial seed funding in 2018 from several investors, including Impact Partenaires, Bpifrance and BNP Paribas, and secured its first round of investment funding in 2020 with MAIF Avenir, IMPACT Partners and Bpifrance. In 2021, Rise Up signed a strategic partnership and equity investment with Ifpass.
Additional financial details will not be disclosed.
About Connected Capital
Connected Capital is a leading investor in growth and buy-out stage European B2B SaaS companies. It provides capital and expertise in pure-play SaaS to entrepreneurs in order to accelerate the growth of their businesses. Based in Amsterdam and backed by institutional investors, Connected Capital operates across Europe with over €200 million of capital under management.
About MAIF Avenir
Created in 2015, MAIF Avenir is the first French venture capital fund to invest in mission driven companies. Managing more than 250 million euros in assets and more than 45 investments, MAIF Avenir supports start-ups, from seed to Series B, that have the ambition to develop the services and technologies of tomorrow to advance individual, collective and sustainable progress.
About IMPACT Partners
Impact Partners was founded in 2007 with the conviction that entrepreneurship could help to build a more sustainable and fair society. Today, it is the first platform fully dedicated to impact investing in Europe. Through its Impact Growth Fund (investments from €2M to €15M), Impact Partners provides financial and human support in Europe to social entrepreneurs willing to scale. It also provides support to all those who want to create their own franchised business in deprived areas through its Impact Seed fund (investment from €50k to €500K). As the pioneer in Impact Investing in Europe, and with more than €350M under management, the company supports committed entrepreneurs all around Europe, and has offices in Paris, Frankfurt, Copenhagen and Barcelona.
About Rise Up
Founded in 2014, Rise Up is the blended learning platform revolutionizing the learning experience for all stakeholders: trainers, administrators, and learners. Across all approaches, e-learning, face-to-face and mobile, and in compliance with the regulatory framework, Rise Up is a one-stop-shop solution: a learning experience provider (LXP – Learning experience platform), a learning management solution for Human Resources (LMS – Learning Management System), and an authoring tool for trainers (Authoring Tool). Growing quickly, Rise Up counts over 100 employees today in six key countries across Europe.
