Learning Pool Increases Revenue by 45% in Fiscal Year 2022 Results
February 8, 2023
Learning Pool, a strategic leader in global elearning, today announced results for the fiscal year ending 30th April 2022.
Fiscal Year 2022 Financial Highlights:
- Total Revenue of £32m, an increase of 45% over prior year
- North American Revenue of £12.5m, an increase of 235% over prior year
- Subscription Revenue of £26.2m, representing 82% of total revenue
- Annual Recurring Revenue (ARR) increase of 73% over prior year
Fiscal Year 2022 Business Highlights:
- Learning Pool now serves more than 1,400 customers around the world
- Staff headcount of 402 employees, an increase of 89% over prior year
- Strategic Leader within the Fosway 9-Grid™ for Digital Learning
- Acquisition of True Office Learning
- Completed secondary investment process with Marlin Equity Partners
The acquisition of True Office Learning, the renowned compliance technology firm based in New York, USA, significantly accelerated the Group’s North American and Global strategy. True Office Learning creates award-winning adaptive elearning and behavioral intelligence technology to disrupt the traditional company compliance market and is used by many Fortune 100 companies such as Mondelez, IBM and Pfizer.
In total, Learning Pool added more than 350 new clients across a wide range of industries including Lidl, AT&T, Hitachi, DHL, United Soccer Coaches, Pepsico, and Dow Jones.
In July 2021, Learning Pool agreed a secondary investment from Marlin Equity Partners, the global investment firm with more than $8.5bn of capital under management, to support the company’s ongoing growth acceleration.
“Fiscal Year 2022 was one of tremendous change for Learning Pool and it’s pleasing that our growth continued through the period,” said Learning Pool’s CEO, Dr Ben Betts. “North America was particularly exciting for us with new customers and colleagues from True Office Learning adding to significant organic growth. By the end of the year, nearly 40% of all revenues came from the region and this momentum continues into 2023. Our more recent acquisition of People-Analytix, which allows organizations to dynamically identify and address skills gaps, brings further opportunity for us to deliver extraordinary outcomes for our customers and their people around the globe.”
“The long-term consistency of our growth, particularly following the COVID-19 pandemic, reflects the ongoing desire to improve workplace learning,” said Founder and Executive Chairman, Paul McElvaney. “In a world feeling the effects of the great resignation and facing economic uncertainty, we’re uniquely placed to help companies onboard, upskill and retain staff. By maintaining the proportion of revenues derived from customer subscriptions, and with new backing from Marlin Equity Partners, we continue to invest heavily in product development, sales, and professional services to deliver measurable benefit for our entire customer base”.
During the year, Learning Pool won an extensive range of awards and recognition from G2.com, Fosway, Brandon Hall Group, eLearning Industry, the Learning Technologies Awards, Training Industry, Investors in People, Best Companies and more.
The Group also increased its commitment to Environmental and Social Governance (ESG) initiatives including adding new titles to our Free Forever range of elearning modules, releasing the Tall Tales book in partnership with Make-A-Wish Foundation and making a commitment to plant 10,000 trees with One Tree Planted.
About Learning Pool
Learning Pool creates learning experiences that deliver extraordinary outcomes for workplaces investing in the performance and skills of their people. Supporting thousands of businesses investing in learning experiences for their global learners, Learning Pool’s innovative AI learning platforms and skills solutions, combine integrated technology and adaptive content to produce actionable insight on every learner’s performance.
Its world-class customer experience makes sure clients can harness its unique ability to produce a highly skilled workforce, new competitive advantages, and an organization prepared for whatever the future might bring.
Wherever you find ambitious workplaces investing in their people, you’ll find Learning Pool.
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