LMS365, an online learning management system empowering people through inclusive and engaging learning whenever, wherever, and however they need it, announced that it has raised $20 million (€18 million) in its Series A round led by New York City-based Blue Cloud Ventures with participation from Kamet Capital and existing shareholders.
The Denmark-based startup plans to utilize the fresh capital to double down on its global growth by acquiring distribution partners in the US, Germany, and Australia.
Headquartered in Aarhus, LMS365’s learning management system is directly built into Microsoft Teams, Microsoft Viva, and Microsoft 365. This integration can tap into global businesses and onboard, train, and develop employees regardless of location. It aims to put learning directly into the learners’ ‘hands and hearts.’ It leverages HR, IT, and C-Suite executives from various industries—including financial services, healthcare, manufacturing, and government, to deliver training, learning, and onboarding to remote employees in the flow of work and within existing Microsoft ecosystems.
Speaking about the fundraising, Chief Executive Officer of LMS365, Rasmus Holst, said:
Raising a round of this magnitude in the current climate is outstanding for the whole team and a testament to all the hard work put into getting to this point. This capital injection represents a significant change in gear for our business. The decision by our CTO, Freddy Bang, to build on Teams in 2016 sparked a phenomenal growth journey, and now we are ready for the next chapter.
The company claims to have millions of users across over 60 countries with its ‘learn like you’ approach. This approach aims to allow employees to learn in their normal flow of work in a personalized way.
Adding about the investment, Chief Strategy Officer of LMS365, Henrik Jeberg, said:
We see a clear window of opportunity in the market where we can accelerate. While we are proud of our growth rates, Microsoft Teams adoption has also grown fast, so we expect to continue to invest in our core market and see Microsoft Viva as a clear opportunity.
Managing Partner of Blue Cloud Ventures, Mir Arif, commented: We are thrilled to partner with LMS365 and its management team. We have tracked the LMS market for a long time and were impressed by the Microsoft Teams-native platform built by LMS365, which provides seamless deployment and ease of use for their customers.
Last year in September, LMS365 acquired their leading digital workplace consultancy Evergreen Digital and marked an exciting expansion to Australia, New Zealand, and the wider Asia-Pacific.