GO1.com has raised more than $40 million in a Series C round led by Madrona Venture Group and SEEK, the Australia-based online training and education platform said in a statement Monday.
Salesforce Ventures was a new investor in the round, with existing investors M12, which is Microsoft’s venture fund, and Our Innovation Fund also participating, the statement said.
The COVID-19 viral outbreak and resulting lockdowns and quarantines have spurred interest in tools that help employees work from home efficiently.
The startup plans to use the proceeds of its latest financing to expand in North America and increase tie-ups with content providers for its library of training material as demand is rising, noting that its platform has also been integrated into Microsoft Teams.
“GO1’s growth over the last couple of months has been unprecedented and the use of online tools for training is now undergoing a structural shift,” Andrew Barnes, CEO of GO1, said in the statement.
GO1 said the number of organisations using its platform in the US has jumped by five times since last year, reaching more than 3,000 globally, while usage of the platform has tripled over the past month.
The company’s website said it has more than 170,000 resources and more than 100 content providers. In addition to Australia, it said it has offices in the US, South Africa, Vietnam, the UK and Malaysia.
Somasegar, managing director of Madrona Venture, said his company met with GO1 before the viral outbreak heated up and was already “impressed” with the platform’s growth.
“The global pandemic has only increased the need to both provide training and retraining – and also to do it remotely. GO1 is an important link in the chain of recovery,” he said in the statement. GO1 said he would take a board seat.
GO1 has raised over $80 million in funding from investors including M12, Madrona Venture Group, Australian online recruiting firm SEEK, Salesforce Ventures, Shark Tank investor Steve Baxter and Oxford University.
In 2019, GO1’s Series B round, led by M12, raised $30 million, with Y Combinator also participating. In 2015 and 2016, the company raised seed rounds, with Tank Stream Ventures among the investors, according to Crunchbase data.