SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Trainual, a leading SaaS platform modernizing the way businesses onboard, train and scale their teams, announced today that it closed a $27M Series B investment. Led by Altos Ventures, several new and noteworthy investors backed the latest round, including The Shark Group CEO Daymond John, Indeed Co-Founder and Chairman Rony Kahan, PandaDoc CEO Mikita Mikado, TSheets Co-Founder Matt Rissell and 8x8 CEO David Sipes. The round also featured continued support from Series A investors 4490 Ventures, MATH Venture Partners and PHX Ventures.
This round follows Trainual's $6.75 million Series A and brings the company's total funding to $33.75 million. Trainual will utilize these funds to double down on product innovations and make building a business playbook even easier.
“There is software for tracking your customers, your finances, your marketing and your communications, but what about how everything in your business actually works? Businesses can’t grow on scattered documents, or spend their time looking over their peoples’ shoulders, especially in a hybrid or remote world,” said Chris Ronzio, Founder and CEO of Trainual. “Our platform keeps teams aligned and accountable by equipping them with the answers they need to do their jobs autonomously. That way, business owners can finally step out of the daily operations and focus on growing their business.”
A Glassdoor study found that organizations with strong onboarding processes improved new hire retention by 82% and boosted productivity by more than 70%. Trainual is dedicated to reshaping the onboarding and training experience for today's hybrid workforce. The platform makes it easy to design and implement interactive, self-led training content, as well as organize company knowledge in one, easy-to-access interface.
Spurred by the surge in remote work, Trainual experienced rapid growth over the past year, doubling its YoY revenue. To date, the company powers the ops behind more than 5,500 businesses across countless industries in 177 countries.
"I wish Trainual was around when I was starting and scaling my company. It's a game-changer that is going to save growing businesses a ton of time, allowing them to focus on the most crucial aspects of building their companies,” said Daymond John, CEO of The Shark Group. “The team at Trainual gets what it takes to scale a small business. For me, their shared passion for empowering entrepreneurs make this partnership a natural fit."
To better serve its rapidly growing customer base of savvy entrepreneurs, Trainual plans to fill more than 50 new roles across all departments over the next year. Interested candidates can access more information and apply online at trainual.com/careers.
Trainual transforms the way small businesses onboard, train and scale teams. With its affordable and easy-to-use platform, organizations can dramatically reduce the time it takes to get employees up to speed while making every need-to-know instantly accessible, from anywhere in the world. Thousands of small businesses in over 177 countries build their business playbooks and grow their teams with Trainual.