Absorb Software Raises $59M in Funding

Funding Rounds

▤ Summary

The company intends to use the funds to accelerate development of its innovative flagship product, Absorb LMS, to increase hiring across all departments and further expand its geographic presence.Founded in 2003 by Mike Owens, CEO and President, Absorb Software provides cloud-based learning and performance management software for corporations and higher education institutions.Its learning management system (LMS) enables learning and development teams to train, retain, and manage both internal employees and external stakeholders such as customers, channel partners, franchisees, and membership associations.It centers around an intuitive user experience and a configurable, brand-specific interface, offering administrative, course builder, and reporting tools to its stakeholders.The company serves over 2.5 million learners each month across 600 global customers, and has a workforce of approximately 140 employees in Calgary and a subsidiary in Dublin, Ireland.

$ Funding

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Amount $59.0M Total raised
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Date September 6, 2017 Announcement date
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Investors Absorb Software Lead investors
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Company http://www.absorblms.com Funded company

▥ Classifications

industries
HealthTech
applications
Business Intelligence

◇ AskAI Classifications

Labels
Learning Management System SaaS Educational Software

▦ Linked Companies

Absorb
$50M to $100M