The popular SaaS platform, Trainual, known for offering modernized solutions for business onboarding, training and scaling the teams, announced the closure of a $27 Million Series B Investment. It received support from both series A and series B investors.
It was led with the help of Altos Ventures and witnessed the involvement of noteworthy investors, including The Shark Group CEO Daymond John, Pandadoc CEO Makita Mikado, TSheets Co-founder Matt Russell, Indeed co-founder and Chairman Rony Kahan, and many more. Investors of Series A, including 4490 ventures, PHX Ventures, and MATH Venture Partners additionally offered continued support.
The total fund of the company increased $33.75 million after Series A, which ranges from $6.75 million. The company has also announced that this fund would be used to escalate product innovation and make creating business easy and straightforward.
Trainual offers an unconventional technique that helps small businesses modernize how they scale, train and onboard teams. The platform is affordable and provides ease of use. With this help, small business organizations can reduce the time consumed in speeding their employees and offering them various needs to know and make it accessible instantly.
The founder reflected on various software that helps businesses to track their customers, the finance, the communication of the companies and marketing, but software that will keep an eye on the full functionality of a business doesn’t exist. Trainual aims to offer services that assist them with all the relevant information inside the business from time to time.
The CEO as well as the founder of Trainual have previously reflected on the purpose of the company, which revolves around the need to equip the team with all the pieces of information that they need to perform their job without any hassle. This will heavily impact the growth of the company by stepping out from the quotidian operations and increasing the revenue.
Numerous studies have found that an organization’s strong onboarding process facilitates the retention of new hires by 82% and enhances about 70% of the overall productivity. With the help of this platform, businesses do’ find it difficult to design and install self-led and interactive training content and club the knowledge of the company in a single interface that would offer easy access from anywhere and anytime.
The company witnessed rapid growth in the previous year and saw a double rise in the YoY revenue. The CEO of The Shark Group opined that the company changed the game entirely, saving a considerable chunk of time for businesses aspiring towards steady growth. It offers an excellent opportunity for small businesses to fulfill their dreams of significant achievement and makes the entire process easier to handle.
Trainual is now being used by thousands of small business organizations across 177 countries who make use of it to grow their teams and create effective business playbooks. To date, the company has assisted over 5,500 businesses and thrives on serving more. Trainual is aimed to serve the growing base of the consumers involved in savvy entrepreneurship and plans to hire more employees to fill fifty more new roles in various departments in the coming year.