GrowthSpace, an outcome-focused talent development platform, has announced $25 million in Series B funding led by Zeev Ventures.
Existing investors M12 (Microsoft’s venture fund) and Vertex Ventures participated in the round, which brings the total amount raised by the company to $44 million.
Commenting on the development, Omer Glass, CEO & Co-founder of GrowthSpace, said,
“We’re thrilled with the Series B investment led by Oren Zeev, which enables us to continue partnering with hundreds of forward-thinking companies looking to strengthen investments in the future of their employees, who will be able to drive business KPIs and impact performance through our outcome-focused talent development platform. The demand for our solutions is strong as we achieved a 5x ARR growth in the last 12 months. Additionally, we have built a network of 1,500 experts in over 50 countries, and look forward to expanding our reach and impact even further.”
GrowthSpace talent development platform connects employees to relevant experts at scale, solving a major challenge in a $360* billion+ market. The platform is designed modularly and supports any number of development programs that its clients utilize, including 1:1 and group coaching, internal mentoring, group training, and workshops. It leverages a robust talent development dataset and a network of global experts to help employees and teams achieve performance at scale.
As a market leader in supporting employee professional growth, the platform understands the challenge of an individual or a group and leverages sophisticated algorithms to match them with a proven, relevant expert for a development sprint, which can then be implemented dynamically and at scale across an entire organization.
Oren Zeev, the founding partner of Zeev Ventures, said,
“In these times of uncertainty, I am very selective with my investments. It has never been more crucial for employers to focus on their talent and align professional development to business performance. I invest where I see a real potential for disruption, and that is exactly the opportunity I see here. GrowthSpace has the vision, product, and team necessary to make this happen.”
GrowthSpace plans to use the funds to scale global operations to help meet the rapidly accelerating demand of the G2 category leader.
Michelle Gonzalez, CVP and Global Head of M12, Microsoft’s venture fund, added,
“Companies of all sizes strive to realize value from learning and development programs, while employees want and need solutions that will help them achieve their next career goals. The GrowthSpace platform provides an effective learning and development framework that helps drive and measure the true ROI of employee development and advanced people analytics. Their solution is a breakthrough because it brings professional, personalized development to every employee, at scale, and the company has built an impressive track record in a short time.”
GrowthSpace’s platform can be implemented modularly to address specific requirements or set up as a comprehensive solution, enabling companies to plan and execute various talent development programs. Customers can utilize individual and group coaching, mentoring (internal & external), training, workshops, and lectures. GrowthSpace enables HR and organizational development executives to dynamically allocate resources and funds between different types of programs based on corporate goals and people requirements. This enables a centralized wallet to power a decentralized system that can be driven by each individual and team.
The platform has claimed that over 95% of employees who have experienced its program and 90% of their direct managers have reported improvement in desired business outcomes. It further claimed that it drives measurable impact on the KPIs that the organization prioritizes, including performance, throughput, ENPS, and various business KPIs.
Hundreds of customers, including Siemens, Microsoft, EY, Johnson & Johnson, Zoominfo, and Lightspeed, currently use the platform.