Learn Amp

Idea

Introduction

We started life as Rise To but pivoted to Learn Amp in February 2017. We were named best Learning Experience Platform globally in November 2017 by leading sector analyst Craig Weiss and haven’t looked back.

Learn Amp is now a multi-award winning, Employee Experience Platform. We combine learning, engagement and performance management software in one intuitive platform that helps deliver a better overall employee journey.

We help businesses drive higher engagement, retention and performance in employees and with that build higher Employee Lifetime Value (something we believe is a pre-requisite to higher Customer Lifetime Values).

Learn Amp makes it quick and easy to map out and personalise employee journeys at scale in a way that’s fast, intuitive and highly engaging.

Intended impact

Learn Amp’s mission is ‘making work life, work better’ and we do that through consumer grade, people technology that helps businesses deliver a better employee experience (learning, engagement and performance management all in one).

Our vision is to transform the way businesses engage, align with and develop employees – we want to dominate our space the way HubSpot have done with content/inbound marketing but for the employee experience.

Some of the key macro trends that we believe fuel the need for software like ours:

We’re already selling well into the large SME and mid-market space (our focus) with customers like:

Substantial accomplishments to date

- Built a first-class team in the UK including our CTO who manages our software engineer team in Poland.
- Multiple awards: including 2019 Winner of the Employee Experience Award (use of technology) as well as two year running global no.1 Learning Experience Platform.
- We now have three-year deals with Kinleigh Folkard & Hayward, Metro Bank, Paragon Bank and Boon Edam.
- Negative churn (increase in contract values higher than any loss of income from attrition).
- We’ve been cash flow positive for the last 12 months*.
- Renewals are typically higher as most customers are growing, plus we can upsell in many cases too.
- We now have multiple integrations and content partnerships in place.

Monetisation strategy

We primarily sell annual, software as a service (SaaS) licenses on one to three year contracts: larger customers tend to sign three year deals, SMEs mostly one year. Annual contract values (AVCs) vary between £5k and £25k for SMEs (50 to 500 employees) depending on the offering they purchase and mid-market customers (500 to 5,000 employees) between £25k and £100k per annum.

In addition to license fees we typically charge an implementation fee and for integration work at the start as well as resell the libraries of a number of leading content/course publishers.

The current round is to accelerate the rate of growth now that we feel we have product-market fit.

Use of proceeds

Funds will be spent almost evenly across four areas:

Tech and product team. 23%

Sales and marketing team. 25%

Central costs, customer success/support teams. 25%

Marketing. 27%

* Based on unaudited management accounts.