Closes $16.7 Million Growth Financing by Elsewhere Partners and Names Seasoned Healthcare Technology Executive Robbie Abt as CEO
San Diego, Calif. – September 1, 2022 — Learnsoft, a technology leader meeting the unique training needs of highly regulated service industries, today announced the appointment of seasoned technology leader Robbie Abt as chief executive officer timed with the close of a $16.7 million Series A round of growth financing led by Elsewhere Partners. Scaling to meet heightened demand for comprehensive, customizable learning management systems (LMS), Learnsoft plans to use the funding to advance its solution offering, grow its team, accelerate adoption of its SaaS platform, and expand into new markets.
“Having worked with the Learnsoft team for almost a decade, we’ve grown our partnership from one agency utilizing the Learnsoft SaaS platform to a comprehensive, customized training program that integrates with our other human resources information systems (HRIS) for the entire Executive Branch of government last year,” said Kraig Knowlton, Director of Personnel Services, Kansas Department of Administration. “Utilizing Learnsoft for our statewide learning, training and performance management efforts, we are confident our team is prepared to properly serve our community.”
Expected to top $38 billion by 2027, the global LMS market may be booming, but many organizations and their employees are often still left wanting. Traditional learning management systems are too rigid and time-intensive to properly support the needs of organizations in complex industries like healthcare and government that need to rapidly adapt to meet evolving demands and regulatory requirements.
“Every workplace is in the midst of a complete revolution – employee recruitment, onboarding, management, training and professional development can no longer take a stagnant, one-size-fits-all approach,” said Chris Pacitti, founder and partner of Elsewhere Partners. “We see an enormous opportunity for Learnsoft to lead a new era of change-ready, compliant enterprise training systems that allow organizations to easily adapt training programs. They’ve proven their team, technology and market value with substantial successes across the healthcare and government sectors, and organizations are clearly ready to embrace new solutions to better support talent development and compliance initiatives.”
Already meeting the training needs of dozens of customers in highly regulated industries, the Learnsoft SaaS platform makes it easy for learners to learn and organizations to prove compliance by delivering a comprehensive, user-friendly interface that is branded for each organization. A fully configurable LMS, Learnsoft customers select specific modules that meet their unique needs. Integrating auxiliary systems, Learnsoft provides automated curriculum assignments and tracking, as well as reports designed to meet industry-specific compliance requirements. Kishor Amberkar, Founder of the Learnsoft technology platform, was instrumental in creating a flexible, fully-customizable technology solution that can scale to meet the unique needs of each customer. Amberkar remains with the company as President and CTO. Learn more about Learnsoft’s customer success stories here.
“Take the pandemic as an example, everything changed in an instant for critical service-providing sectors like healthcare and government and then continued to change almost daily. Traditional systems can’t keep pace,” noted Abt. “Learnsoft provides a comprehensive, yet flexible, solution to ensure organizations can quickly adapt so employees are properly prepared for their job – even when major tasks, procedures, policies and regulations are constantly evolving. With the infusion of strategic growth capital, we are now well positioned to scale and meet rising demand without compromising on our service promise. I look forward to working with the expansive Elsewhere Partners network and the Learnsoft team to continue to meet the training and compliance needs of complex organizations in a single, advanced platform.”
With a proven track record of successfully scaling growth-stage companies in the healthcare technology sector, Abt will lead Learnsoft through its next phase of operational and product growth. Abt will help Learnsoft move faster and deepen relationships with key partners, while cementing the company’s commitment to deliver consistent value to its customers. He joins Learnsoft from Relatient, a SaaS company focused on optimizing patient engagement, where he helped the team achieve breakthrough growth while delivering and maintaining value to customers as chief revenue officer and senior vice president of sales and business development. Previously, Abt served as regional vice president of sales as well as vice president of channel sales for Navicure (now Waystar) where he helped the business become a leader in revenue cycle technology prior to its acquisition.
Abt earned a B.S. in commerce and business administration with a specialization in healthcare management from The University of Alabama. He currently resides in Alabama and will manage the remote Learnsoft team from there.
Elsewhere Partners will provide support from its deep ecosystem of technology professionals to help Learnsoft navigate its next phase of growth. Michele Perry, an Elsewhere Partners operating advisor, will take on the role of Board Chair, alongside Chris Pacitti and Sloane Child of Elsewhere Partners, who will also join the Board to support the company’s accelerated market expansion, channel development and recruiting efforts.
About Learnsoft Learnsoft offers organizations in highly regulated industries comprehensive training technology solutions. Learnsoft delivers a fully configurable, SaaS-based enterprise learning technology platform encompassing LMS (Learning Management System) and TMS (Talent Management System) capabilities. Designed for ease of use, content integration, and intelligent reporting, Learnsoft provides a complete, integrated view of an organization’s learners and their learning progress. For more information visit www.learnsoft.com.
About Elsewhere Partners Elsewhere Partners is a growth-stage investment firm that invests in Elsewhere Outliers – business software companies that are located outside of traditional investment hubs and have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their own terms. To learn more, visit www.elsewhere.partners.