<div>
  <ul>
    <li>
      <p>
        Hone, a leadership training platform, raised USD 30 million in a Series B funding round led by 3L Capital, with participation from F-Prime Capital, Cowboy Ventures, and Slack Fund. The round follows its 
        <a href="https://sp-edge.com/updates/6383">
          USD 16 million Series A
        </a>
         in November 2021, bringing its total funding to USD 52.4 million.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The company intends to use the funds for further product development and to increase its headcount from 70 to ~100 by the end of the year.&nbsp;&nbsp;
      </p>
    </li>
    <li>
      <p>
        The company stated that during the course of the pandemic it had expanded its management training program to include live practice labs, team-based learning, and learning pathways for individual contributors and emerging executives. It also entered into tech integrations with Workday, Rippling, and SAP SuccessFactors, resulting in the strengthening of its customer base to include Indeed, ConocoPhillips, Pacific Sunwear, Allscripts, TomTom, and Aramark.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Hone stated that it plans to conduct in-person events to facilitate the exchange of ideas between executives.&nbsp;
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Hone aims to differentiate itself by providing leadership training through its flagship offering &ldquo;Manager Bootcamp,&rdquo; an eight-week live online course that pairs groups of eight with a coach to practice core management skills in short weekly sessions. In contrast, other EdTech firms including 
        <a href="https://sp-edge.com/companies/225352">
          Go1,
        </a>
        <a href="https://sp-edge.com/companies/356148">
          EduMe,
        </a>
        <a href="https://sp-edge.com/companies/435167">
          BetterUp
        </a>
        , and 
        <a href="https://sp-edge.com/companies/78816">
          Coursera
        </a>
         provide pre-recorded sessions and one-on-one coaching sessions. Additionally, Hone offers HR workflow automation tools such as automatic scheduling and attendance tracking for training.&nbsp;&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2022/09/13/hone-raises-30m-to-grow-its-corporate-learning-platofrm/">
      TechCrunch
    </a>
  </p>
</div>


EdTech: Corporate Learning

Hone raises USD 30 million in Series B funding

<div>
 <p>UK-based Multiverse, an online apprenticeship matching program, has acquired Searchlight, a provider of AI-powered recruitment and assessment solutions. The move is part of Multiverse's plan to develop new AI products to improve its professional training offerings, by identifying specific skill sets companies need, creating tailored learning solutions, and aiding businesses and individuals in developing necessary professional skills.</p>
 <p>Searchlight offers AI-driven recruitment and assessment tools to help businesses simplify hiring processes. Its platform features a People Science Engine which improves hiring quality by analyzing candidate references and self-assessment information in correlation with post-hire outcomes. Searchlight's talent intelligence system also incorporations worker outcome data, like job performance and sense of belonging, into recruitment procedures. Companies like Udemy, Zapier, and Talkdesk use the system.&nbsp;</p>
</div>

Multiverse acquires Searchlight to enhance professional training services with AI

<div>
 <p>EdTech startup, Modal, has secured USD 25 million in Series A funding round from investors including Left Lane Capital and Ensemble VC, as well as funding from Signalfire and Learn Capital. The company plans to use this new capital to enhance its learning platform, bolster its sales and marketing initiatives, and recruit more high-calibre personnel.</p>
 <p>Modal's platform is designed to foster the skills of data and analytics professionals. The platform incorporates individualised coaching and simulated projects and employs a success-based pricing model. This model, which has led to course completion rates of over 80%, allows companies to pay only for the skills their employees acquire. Companies purchase credits that are depleted upon the completion of courses and the successful execution of a challenging capstone project.</p>
</div>

Modal raises USD 25 million to enhance platform, boost sales, and recruit talent

ANALYST_QUICK_TAKE

<div>
 <p>Cornerstone OnDemand, a learning and talent experience solutions provider, has purchased XR training platform Talespin for an undisclosed amount. This acquisition enables Cornerstone to expand its content subscription, curation, and creation capabilities. Talespin’s educational content is now accessible through Cornerstone’s Content Subscriptions platform and can be integrated into customers' learning systems.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The XR sector has recorded three additional acquisitions in the quarter so far, including 1) <a href="https:<br>
//sp-edge.com/updates/26912"> VoxelSensors </a> ' acquisition of EyeWay’s IP portfolio to bolster eye-tracking capabilities, 2) the <a href="https:<br>
//sp-edge.com/updates/26695"> National Board of Medical Examiner </a> ’s acquisition of MedVR education to advance medical skills, and 3) <a href="https:<br>
//sp-edge.com/updates/26152"> CREEK &amp; River </a> ’s acquisition of Shiftall to gain exposure to the XR hardware market.</p>

Cornerstone OnDemand acquires enterprise XR training platform Talespin to diversify service offerings

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Global technology company Accenture has acquired Udacity, an EdTech company. This acquisition is part of Accenture's goal to launch "LearnVantage", an initiative aimed at providing employee training services in technology, data, and AI skills to its clients. Motivations and financial details surrounding the deal remain undisclosed.</p>
 <p>Post-acquisition, Accenture intends to incorporate Udacity's content, professional services, and learning technology into its own. All Udacity employees are set to join Accenture LearnVantage. The strategy going forward also involves collaboration with partners within the technology ecosystem to present GenAI content, specific industry technology training, and cloud certifications. A USD 1 billion investment in LearnVantage is planned by Accenture over the coming three years.</p>
 <p>Udacity, as an EdTech company, provides courses and nano-degree programs in areas including AI, machine learning, robotics, data science, and cloud computing. Its influence spans globally, having reached over 21 million learners worldwide with its sizable pool of 1,400-plus specialists and exclusive content library.</p>
</div>

Accenture acquires Udacity to launch 'LearnVantage,' an employee training platform

<div>
 
 <p>Transfr has introduced a Unity-based low-code design tool called the Transfr SDK for creating interactive XR training simulations on its platform. Initially launched in a closed beta, the SDK aims to enhance content development for thousands of US students. The tool enables developers and designers to contribute to XR education via interactive templates and a standardised UI/UX. The SDK is designed to be lightweight, scalable, and incorporate best practices like a coach system for a standardised, efficient development workflow.</p>
 
</div>

Transfr unveils Transfr SDK to improve education through XR training simulations

<div>
  <p>MentorcliQ, a company specializing in employee mentorship software, has acquired Diverst, an ERG (employee resource group) management software. The terms of the deal have not been disclosed. With this acquisition, MentorcliQ aims to integrate Diverst's ERG management capabilities into its existing portfolio. Despite the acquisition, Diverst will continue to function as a wholly-owned subsidiary of MentorcliQ.</p>
</div>

MentorcliQ acquires Diverst to expand offerings

Virtual reality (VR) training provider, Transfr, has raised $40 million in a Series C funding round led by ABS Capital. The funds will be used to hire new executives, expand the platform, and develop new training simulations. The latest investment brings the total funding for Transfr to over $90 million since its inception in 2017.

Transfr secures USD 40 million in growth funding round

Corporate EdTech provider Lepaya has raised $38 million in a Series C funding round led by Endeit Capital, with participation from Educapital, Mars Growth Capital, Liquidity Capital, Target Global, and Mediahuis Ventures. The funding brings Lepaya's total funding to $80 million. The company aims to use the funds to develop and launch its AI-driven capability development platform. It plans to invest in AI tools, such as an AI coach, and improve skills data analysis to provide organizations and their leaders with valuable skill intelligence.

All Updates