General Atlantic, a global growth equity firm, led a $1.5 billion Series A funding round, joined by funds managed by Blackstone Growth and Iconiq Growth, in Articulate Global LLC, a software provider of online training tools and e-learning authoring apps.
“We’re partnering with the growth equity firms we’re convinced will help us have an even greater impact in the world,” said Articulate founder and CEO Adam Schwartz. “Companies face a whole host of challenges training employees in remote and hybrid work environments and reskilling their workforces post-COVID. They’re also under increasing pressure to build learning cultures that treat employees as whole humans, democratize learning creation and consumption, and reduce turnover through enhanced engagement. With these growth equity partners at our side, Articulate is well positioned to be the one-stop shop for organizations transitioning from instructor-led training to the online training that is so critical in the new world of work.”
“We strategically selected General Atlantic, Blackstone, and Iconiq Growth as investors for their combined strengths, including deep operational expertise, proven experience growing cloud-based SaaS companies, and an extensive network of resources to help us scale rapidly,” said Lucy Suros, president of Articulate. “Moreover, all three partners support our passionate commitment to building a human-centered organization.”
“It’s rare that a company achieves the level of success Articulate has without any prior institutional backing,” said Anton Levy, co-president and global head of technology investing at General Atlantic. “On key measures including industry leadership, transformative technology, customer NPS, employee happiness, and sustained growth, Articulate has established itself as a leader and innovator. Drawing from a longstanding history of backing mission-driven entrepreneurs, we are thrilled to partner with the Articulate leadership team to extend and accelerate the transformative impact they’ve already had in the world.”
Jon Korngold, global head of Blackstone Growth, said, “Articulate is a clear leader in the fast-growing online learning industry with world-class technology solutions. We look forward to partnering with the company’s management, General Atlantic, and ICONIQ to extend Articulate’s market leadership position.”
Will Griffith, founding partner of Iconiq Growth, said, “Workplace learning has been a core theme only accentuated by the pandemic, and we are proud that Articulate directly addresses this challenge for employees around the world.”
LionTree served as exclusive financial advisor to Articulate and will invest alongside the other investors.