Cambridge – 24th November 2022 – OBRIZUM, the ‘profit with purpose’ company shaping the workforce of the future through its data-driven training and knowledge transfer platform, has announced $11.5m in Series A funding.
The round takes OBRIZUM’s total funding to $17m, was led by Guinness Ventures with contributions from existing investors Beaubridge, Juno Capital Partners and Qatar Science & Tech Holdings, and new investor Celeres Ventures.
Founded by a trio of PhD-trained Cambridge scientists, Doctors Chibeza Agley, Sarra Achouri and Juergen Fink, OBRIZUM exists to empower large organisations to rapidly upskill and reskill staff through adaptive learning – saving businesses time, money and future-proofing their workforce.
OBRIZUM Co-founder and CEO Chibeza Agley, commented:
“Given that human capital costs are almost always one of the highest outgoing expenses in any business, not having a highly trained workforce who have easy access to the information they need to upskill fast is costing enterprises hundreds of millions of dollars every year and limiting their growth potential.”
“We founded OBRIZUM because we knew existing systems of learning and training would not withstand the ever-expanding and rapidly changing global body of knowledge. We have since been proven right in our predictions that automation would be crucial, time would be at a premium, personalisation would be a requirement rather than a luxury and data would be the most precious of all commodities.”
The corporate training market is expected to grow to $475Bn by 2027(1) as companies across all sectors recognise the continual need to keep their workforce up-to-date, relevant and productive. However, they are currently unable to create learning programmes quickly enough to match their skills development needs. OBRIZUM’s unique platform is built upon automation, adaptability, and analytics to enable businesses to measure digital learning and assessments at scale. With remote working booming post-COVID, the digital slice of the corporate learning market has upsized from 14% to c.33%(2) and climbing, so OBRIZUM’s Series A comes at an opportune moment to cater to this growing demand.
1 Global Corporate Training Market to garner $475 billion by 2027: AMR
2 Global EdTech Report 2020, IBIS Capital & Cairneagle Associates
Trusted by customers in the corporate, government, aerospace, and defence sectors, OBRIZUM’s platform provides a unique way of organising content resources meaning that companies can offer fast-paced learning opportunities, on any topic, which adjust in real-time based on proven understanding.
Its Artificial Intelligence automatically analyses and curates multimedia content into modules dramatically reducing manual effort for human operators. In addition to automating the build or updating of the learning programme, OBRIZUM individualises user journeys through content and assessments on-the-fly enabling ultra-efficient knowledge and skill transfer. Obrizum’s algorithms can both challenge users on concepts they are good at and strengthen them in topics they are less proficient in.
Dr Agley added:
“We would like to thank our new and existing investors for their support in this milestone funding round for our business, as we accelerate our mission to shape the workforce of the future through adaptive learning powered by data-driven training and knowledge transfer. We also wouldn’t be where we are today without our partnership with Capita Plc, who have enabled us to win corporate and public sector deals at an accelerated rate.”
Shane Gallwey, Head of Guinness Ventures, commented:
“Obrizum’s adaptive learning technology not only cuts training times for large enterprises but ensures better learning outcomes. The return on investment for enterprises who use their technology is startling and explains the take-up of Obrizum by household names here in Europe and the USA. At Guinness, we recognise the Obrizum management team as insightful and driven, and with a strong commercial appreciation of what is required to build a world-class business in the education technology field. We are delighted to support them on this journey.”
Richard Abrahams, founding team member of PWC Raise, added:
“We were delighted to advise such an exciting business and talented management team again for their Series A. Despite more challenging market conditions, Obrizum has secured investment from investors who understand the value of their technology and the scale of the opportunity. We’re excited to watch the progress of Obrizum as they build a category-defining business.”
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OBRIZUM is a business-to-business digital learning technology company founded in 2015 by three PhD-trained Cambridge scientists. The multi-patented and award-winning OBRIZUM cloud platform automates the build, curation & analysis of adaptive digital learning programmes for large organisations. OBRIZUM’s bespoke artificial intelligence technology enables companies to make more efficient use of content resources and to measure and accelerate learning, so that they can move as fast as their markets and be ready to embrace the Future of Work.