GO1 bags over $30 million in raise led by Microsoft

18 March 2019, Written by Business News Australia

GO1 bags over $30 million in raise led by Microsoft

Tech startup success GO1 has raised more than $30 million in a series B funding round led by M12, Microsoft's venture fund.

The $30+ million capital raise was primarily led by M12 alongside existing investors SEEK and Y Combinator, as well as new investors Larsen Ventures.

As part of its investment M12 will get a seat on the board of GO1, the world's largest onboarding, compliance and professional development platform.

M12's Principal Priya Saiprasad says GO1 is a rare gem in the busy startup world.

"GO1 is one of those rare companies that brings a consumer-led experience to an inherently enterprise product," says Saiprasad.

"GO1 is redefining how enterprises procure training content and how employees in turn consume it via a modern user-experience and a single subscription. And while it was clear to us that customer love was responsible for GO1's rapid growth, the incredible passion of the founding team to create an easier way to learn is what truly sealed the deal with the M12 team."

"Our goal is to leverage Microsoft's broad reach, including our portfolio development team and co-sell programs, to be the accelerant in the next part of GO1's journey as they transform the way people learn across the world," Ms Saiprasad said.

READ MORE: GO1: The tech tiger that changed its stripes

Larsen Ventures investment director Andrew Larsen said he was excited to be a part of GO1's growth journey.

"I've seen GO1 grow from strength to strength and have wanted to be involved with the company for a while now," Mr Larsen said.

"We're really pleased to be involved in this funding round and are excited with where the company is headed. They've proved their ability to execute every step of the way, and their vision and continued results are a great fit with Larsen Ventures.

GO1 CEO and co-founder Andrew Barnes (pictured right), who was named the number 21 Australian Young Entrepreneur by Business News Australia in 2018 alongside co-founder Vu Tran (pictured left), says the $30 million will go a long way.

"We're excited to have the support of M12, Microsoft's venture fund, and we're looking forward to what we can achieve with this new investment," says Barnes.

"We see many opportunities on the horizon given our mission to improve workforce productivity is a view shared by GO1.com, SEEK and Microsoft."

GO1 was named in the Top 25 most sought-after startups in Australia by LinkedIn and has more than 500,000 courses and learning resources in total from a variety of content partners.

More than 22 million users have access to GO1's content through its platform and integrated partner network.

Customers include ANZ Bank, Delta, Hasbro, NBC Universal, St John Ambulance, Suzuki and Thrifty.

The e-learning company GO1 recently teamed up with human resources and payroll solutions group PeopleStreme to provide an "all-in-one" holistic service for customers to upskill their workforces while keeping the books in order.

The new partnership will see PeopleStreme benefit from GO1.com's educational expertise, while GO1 will benefit from PeopleStreme's HCM suite and Ascender's payroll platform.

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Business News Australia

Author: Business News Australia





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