ABS Portfolio company ExecOnline Raises a $45 million growth equity round with participation from ABS Capital
NEW YORK--(BUSINESS WIRE)--ExecOnline, the pioneer of online leadership development for enterprises, today announced a Series D funding round of $45 million USD led by OMERS Growth Equity. All of ExecOnline’s major existing investors are also participating in the round, including Kaplan, ABS Capital Partners, NewSpring, and Osage Venture Partners. As a result of the transaction, Saar Pikar, Managing Director with OMERS Growth Equity, will join the ExecOnline board of directors.
ExecOnline partners with elite business schools like Berkeley Haas, Columbia, Stanford GSB, and Wharton, and leverages its unique applied learning approach and proprietary online platform to deliver participant completion rates above 90%, impressive NPS scores, and strong ROI for the enterprise. The funding will be used to accelerate growth by investing in sales and marketing, expanding the company’s content Experience Library, and enhancing its technology platform.
“As the pioneer in online leadership development for enterprises, we have been focused on delivering world-class learning experiences for companies from day one. Leadership capability is a key competitive differentiator that becomes even more important as organizations prepare for the future of work. With the adoption of new hybrid work models, ExecOnline’s flexible, scalable platform powers our clients’ talent strategies in a way that also provides career-enhancing opportunities to a broader, more inclusive group,” said ExecOnline Co-Founder and CEO Stephen Bailey. “This investment led by OMERS Growth Equity will help us solidify our strategic position as the world’s top leadership development platform for enterprises, and further our ability to make a meaningful impact on our clients’ businesses. OMERS Growth Equity is a well-respected, thoughtful player in edtech, and we look forward to accelerating our company’s growth with their support.”
“ExecOnline has identified significant white space in the popular edtech sector, which equates to a multi-billion dollar opportunity that we believe the company is ideally positioned to access. We prioritize our investments in organizations that demonstrate innovative, sustainable approaches to modern challenges, which ExecOnline has shown since their inception,” said OMERS Growth Equity Managing Director, Saar Pikar. “The ExecOnline team is driven by a vision that resonates strongly with our own–to advance relevant solutions that change how organizations operate, specifically by transforming leadership development education and widening access to it. Stephen Bailey and his colleagues are truly ‘doing well by doing good,’ by facilitating this further evolution of executive development programs.”
As the pioneer of online leadership development for enterprises, ExecOnline has delivered transformational learning experiences to corporate leaders at over 500 global organizations since 2012. Through partnerships with elite business schools such as Berkeley Haas, Chicago Booth, Columbia, Duke CE, IMD, Ivey Business School, MIT-Sloan, Stanford GSB, Tuck at Dartmouth, Wharton, and Yale, ExecOnline consistently provides top-tier leadership courses. As a Forbes “Technology Company to Watch,” our proprietary online ecosystem combines the engagement of on-campus study with the convenience of online education, through dynamic, high-impact experiences tailored to the unique strategic, innovation and operation concerns of corporate executives. Visit www.execonline.com to learn more. Follow ExecOnline on LinkedIn and Twitter.
About OMERS GROWTH EQUITY
OMERS Growth Equity invests in high-growth companies backed by exceptional teams. OMERS Growth Equity is a long-term investor, focused on supporting companies to pursue all types of growth opportunities. These growth opportunities could include scaling operations, making acquisitions, expanding product lines, or entering new markets. To learn more, visit: https://www.omersprivateequity.com/GrowthEquity.
About ABS Capital Partners
For over 30 years, ABS Capital Partners has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 130 companies through their most crucial stage of development, ABS continues to help unleash the potential for lasting growth. Visit www.abscapital.com for more information.