eLearning Brothers, the American Fork, Utah-based learning solutions company, is eyeing more acquisitions in its quest to build a one-stop corporate learning platform.
Earlier this month, the company raised $54 million in a round led by RLG Capital and Trinity Investors. eLB also acquired Rehearsal, a video-based training platform, and Origin Learning, a platform that provides learning content and technology solutions.After raising a fresh $54 million, @eLearningBros is eyeing more acquisitions in its quest to build a one-stop learning platform. #HR #HRtech Click To Tweet
Both companies join eLB’s portfolio of platform acquisitions, which also includes the Game Agency, a gamification software firm that builds game-based solutions for corporate and public-education customers.
The recent investment has enabled eLB to recapitalize its debt structure with Prudential Financial’s private capital arm, PGIM Private Capital, which becomes the company’s sole debt holder. The arrangement provides eLB with a $100 million line of credit for future acquisition, Techbuzz reports.
“Now with the Prudential relationship, it’s a lot easier for us to acquire,” CEO Andrew Scivally told the news service. “Basically, there is a certain amount of money they’ve already pre-approved. Most of the due diligence has already been done.”
eLB’s One-Stop Dream
Greg Robison, co-founder and managing partner at RLG Capital, said the firm’s investment demonstrated the private equity firm’s confidence in eLearning Brothers’ vision of a one-stop integrated online platform for the corporate world. “The company has leapfrogged the competition,” he added.
Through its proprietary platforms, eLearning Brothers offers training tools and content to corporate clients for staff training and development. Andrew told TechBuss that “probably 95% of our revenue, or more, comes from the corporate space.” Procter & Gamble, Twitch, PayPal, Microsoft and AARP are among the company’s customers.
In 2020, eLearning Brothers acquired tools providers Trivantis and Edulence. Trivantis’s authoring tool, Lectora, is an authoring tool that combines web-based, desktop and virtual reality capabilities with the eLearning Brothers Asset Library. The company also offered a VR course builder, CenarioVR. Edulence provides the agile LMS Knowledgelink. At the time, eLearning Brothers said combining the companies would create “a unique learning ecosystem.”