Amid a period of historically low U.S. unemployment and high competition for skilled workers, businesses are investing in ever more tools to support and train employees. That’s resulted in a strong and steady flow of funding to startups serving this niche.
Today, WorkRamp, developer of a learning platform for businesses and their employees, became the latest company in the space to announce a sizable funding round. The San Francisco-based company closed on $40 million in a Series C round co-led by Salesforce Ventures1, Slack Fund and Susa Ventures.
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Founded in 2015, WorkRamp has posted sharp growth recently, reporting that revenue tripled year-over year. With the latest financing, funding to date totals over $67 million.
Companies use WorkRamp’s tools for a variety of purposes, including employee onboarding and training around sales, compliance, customer service and other areas. Customers include Reddit, Box and Hopin.
We wrote yesterday about how the human resources space broadly is seeing record sums of venture investment in recent quarters. Total venture dollars invested in HR-related companies hit nearly $9.2 billion in 2021, per Crunchbase data. That’s more than the totals for 2019 and 2020 combined. Meanwhile, 2022 is off to a brisk start as well, with $2.46 billion invested.