Axonify announced it has raised $27 million in growth equity to expand its business.
“We have been tracking Axonify over the last several years and share in its vision that improved employee knowledge is a critical imperative for enterprises today,” said Matt Emery, a general partner at JMI Equity in a statement. JMI Equity led this round of investment alongside existing investor BDC Capital through the BDC IT Venture Fund.
One of the first to offer an all-in-one SaaS platform, companies including Walmart, Toyota, Bloomingdale’s, and Johnson & Johnson have used Axonify’s microlearning approach to ensure employees build knowledge in areas aligned with business needs.
The news about the Waterloo, Ontario, Canada-based company signals a growing shift away from traditional learning strategies that include learning management systems and classroom training to an approach that is personalized, mobile, easy to consume and available when necessary at the point of work.
Carol Leaman, Axonify’s President and CEO said in a statement this growth round will allow the company to accelerate its pace of customer acquisition, continue to raise its profile in the market, and extend its platform in new ways.
Bravetta Hassell is a Chief Learning Officer associate editor. Comment below, or email editor@CLOmedia.com.