Irish ed-tech company LearnUpon has raised $56m in funding to enable it to hire more staff and to support the delivery of its products.
The company is aiming to take on an additional 100 new engineers over the coming year and a half to support the expansion.
The funding for the growth is being provided by growth equity firm, Summit Partners.
"Summit brings deep experience scaling SaaS businesses, as well as a number of dedicated growth-focused and technology resources that we believe will help LearnUpon build on the momentum we have established in the market," said Brendan Noud, CEO and co-founder of LearnUpon.
"We are excited for the opportunities that this partnership will bring to our team, customers and partners."
LearnUpon has developed a single learning management system to help firms to train employees, partners and customers.
It is the first time that LearnUpon has raised a major amount of capital since its foundation by Des Anderson and Brendan Noud eight years ago.
The company has over 1,000 customers including Booking.com, Twilio, USA Football and Zendesk and has grown recurring revenues by over 50% ever quarter for the last twelve
Headquartered in Dublin LearnUpon employs 180 people across its office network, which includes Philadelphia, Sydney, and Belgrade.
It has added 55 new staff remotely since the Covid-19 pandemic hit in March and expects to have grown to 200 by the end of the year.
600,000 courses have been created on the platform, with over 48 million course enrollments, up 80% in the last year.