360Learning, a next-generation online training platform, has raised €1.2M from ISAI and 3T Capital. Thanks to this fundraising operation 360Learning, which is democratizing the use of elearning and corporate MOOCs, will be able to pursue its growth drive and develop its user community. This is the tenth investment by digital venture capital fund ISAI, this time in association with 3T Capital.
The set-up of an elearning module often costs several tens of thousands of euros and takes a number of months to complete. With 360Learning, users without any specific technical knowledge can create a module free of charge in just 30 minutes.
Thanks to its fundraising operation with ISAI and 3T Capital, 360Learning will be able to accelerate its growth in two priority areas: growing its user community, and commercial development.
Corporations such as Orange, MMA, Essilor, SNCF and Crédit Agricole coordinate their community of experts via 360Learning. Training organizations such as HEC, as well as more than 500 training bodies and several hundred teachers use it to devise their massive open online courses for their “pupils” and students.
Tenth investment by ISAI
With 360Learning, ISAI is making its 10th investment. Executive Chairman Jean-David Chamboredon has this to say: “360Learning is a training platform that is highly popular among its users. Its offering resolves two major issues inherent to online training: financial, with a huge cut in costs which had become prohibitive; and technical, with maximum simplification of tools, social media and community-based web. By generalizing their elearning, companies and training organizations will gain in efficiency and be able to measure more precisely what has been learned. This is the right time for 360Learning to accelerate, and we are here to help them.”
3T Capital, co-investor
3T Capital is the partner investment fund of IMT, and has also bought into the capital of 360Learning. Managing Partner Daniel Caclin comments: “Both initial training and vocational training have got their digital revolution underway. By providing a response that is common to the three markets – corporate, training organizations and initial training – 360Learning has put itself into a strategic position. It is now time to move up a level, and we are delighted to be supporting them in this phase.”
360Learning: a web based approach set to disrupt online training
To stand out from the Flash animations that are still the norm, 360Learning has adopted a web approach: the contents are short, quick to roll out, and intended for massive use.
Nicolas Hernandez, President and co-founder, explains how this project came into being: “the elearning platforms used today date back to the end of the 1990s… They were designed like management software for large corporations. So we opted for a web approach with social media and high-end ergonomics allowing users to make or reuse their contents themselves.”
Guillaume Alary-Raisonnier, Sales Director and co-founder, adds: “The companies we’ve met are interested in our offering for two reasons: first, in the current economic climate they want to step up their online training, only with economical solutions; and second, they are looking for pragmatic, rapid, social solutions. We stand out by our ‘web’ response which allows them to trial it free of charge before buying and never to have to worry about technical issues.”
360Learning democratizing digital uses in training
Like other MOOCs (Massive Open Online Courses), 360Learning enables anyone to create online courses, interact with users, answer questions and track results. The basic solution is free.
Nicolas Hernandez goes on to explain: “training software publishers sell IT functionalities and services. But our value proposition is based on massive use and the natural commitment created by 360Learning within the learning community.”
Guillaume Alary-Raisonnier comments: “Once the use of the tool has been ingrained, companies and training organizations want to go further in the industrialization of their digital training strategy. We then offer them a range of professional services in the form of a subscription per user. This is a Freemium model, like many next-generation services which are highly popular among web users.”
An entrepreneurial Management Board
As well as the founders and the representatives of the investment funds, the Management Board includes Jérome Traisnel (founder of SLIMPAY), Sacha Doliner (founder of AXIATEL), both of whom are ISAI subscribers, along with Sébastien Breteau (founder of Asian Inspection), a business angel who has held shares in the company since 2011.
ISAI Gestion: Jean-David Chamboredon – Executive Chairman
3TCapital Partners: Daniel Caclin – Managing Partner
GIDE LOYRETTE NOUEL: Pierre Karpik, Louis Oudot de Dainville
2C Finance: Frank Chuffart
Morgan Lewis: Olivier Edwards, Hélène Thomelin