AppLearn Secures $25M Commitment from K1 Investment Management
On September 18th 2019, AppLearn, the global specialists in Digital Adoption Solutions, announced it has secured a significant investment led by California-based K1 Investment Management (“K1”), a leading investment firm focusing on high-growth enterprise software companies.
K1’s investment provides AppLearn with significant experience and resources to rapidly expand its global presence and further develop its innovative product suite known as its ADOPT platform.
ADOPT is an AI-powered Digital Adoption Solution that helps world-leading organizations to optimize their investments in digital transformation. By assisting users with complex business processes, infrequently performed tasks and change management activities, the software enables companies to maximize return on their digital investment, providing measurable benefits in productivity, accuracy and speed.
“Our vast experience in digital transformation, combined with the expertise and investment from K1, puts us in a very strong position to accelerate AppLearn’s growth plans,” said Mark Barlow, CEO of AppLearn. “The funding will fuel the delivery of our exciting product roadmap, as well as support further investments in sales and marketing to help us educate more global organizations about the role of Digital Adoption Solutions. We will soon be expanding our global presence with an office in Boston as well as actively hiring roles in Manchester across all departments. We are thrilled to be partnering with K1 to realize our vision in the next phase of the company’s growth.”
Digital Adoption Solutions represent a growing market within enterprise software. Leading research company Gartner recently introduced a new technology category for Digital Adoption Solutions, recognizing AppLearn. Further, research completed by McKinsey revealed that the digital adoption market is an emerging space, driven by an increasing number of organizations struggling to make the best of their technology investments. A recent report found that approximately 80 percent of executives say that their organizations have begun digital transformations, but just 14 percent say that their efforts have made performance improvements.
AppLearn’s solution is already enabling over 1million global users to realize the benefits of improved productivity, demonstrable ROI and increased employee engagement.
Speaking to the benefits of AppLearn’s technology, Kerri Kovac, VP Organizational Effectiveness at Prudential Financial, Inc, said: “AppLearn ADOPT enables us to push communications to our employees, empowering them with the tools to quickly and easily access on demand, in-application help and learning. The analytics functionality is extensive and allow us to identify employee experience issues, trouble areas, waning levels of adoption and more. As a result, we can provide targeted support exactly where and when it is needed.”
Mike Velcich, Principal at K1 added: “Since our first interaction with AppLearn, we have been impressed by their approach and vision to enabling better use of technology in the workplace, including the product’s ability to drive impact at some of the world’s most recognized companies. We fully believe in AppLearn’s ADOPT technology and its pioneering approach to digital change and we’re excited to support the team to strengthen its position within a growing market.”
K1 builds category leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 110 enterprise software companies including industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen, ControlUp, Granicus, IronScales, Jobvite, Onit, Rave Mobile Safety, RFPIO, Smarsh and WorkForce Software. For more information about K1, please click here.