Brighton based SaaS business Elucidat announces £3.5 million of investment

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Elucidat announces investmentElucidat has successfully gained the backing of YFM Equity Partners with a £3.5 million investment to pursue its vision for people-centered elearning.

Elucidat is a learning technology SaaS business that offers smarter, faster ways for global organizations to produce, distribute and measure digital learning that delivers a transformational impact.

Based in Brighton, UK, Elucidat was founded in 2013 by Ian Budden, Simon Greany and Steve Penfold (CEO), and has grown rapidly since inception. They have attracted big brand customers and world-class training providers such as Tesco, The National Trust and The Open University. So far, 10 million people around the world have benefited from learning created with Elucidat.

The funds will be used to accelerate the development of the platform to help customers produce learning experiences faster, at a higher quality. They will also be investing in their team and picking up the pace of growth in North America, which already makes up 35% of Elucidat’s revenue.

Steve Penfold, CEO of Elucidat, commented:

“This investment marks an exciting milestone for the Elucidat team and our customers. We’re now able to move even faster on our mission to help our customers around the world produce, distribute and measure transformational elearning with real impact. For our team and the Brighton economy, it means new job roles and even more focus on creating an amazing place to work that centers around our ‘learn, care, share’ values.

We selected YFM as our investment partner given their proven track record of working with businesses to accelerate global growth while ensuring their portfolio companies consider their impact on society and the environment. We’re excited to be working together with YFM on the next phase of our growth.”

The YFM team added:

“The Elucidat team has already gained well-known global brands as customers, and the business is growing strongly. We’re absolutely delighted to be working with the team at Elucidat to support the development of future products and further expansion into global markets.” - Nigel Owens, Investment Director at YFM.

“Elucidat is a great example of an organization which not only has strong growth potential but also seeks to do business in a responsible way. We are delighted to be able to support them in the acceleration of their growth plans.” - Paul Cannings, Partner at YFM.


About Elucidat

Elucidat is a learning software company on a mission to give global organizations smarter, faster ways to produce, deliver and measure transformational elearning.

The Elucidat authoring platform is used by large organizations and online training providers across the globe, including the likes of Tesco, The National Trust and The Open University. Collectively, their customers have reached 10 million learners with content created with Elucidat.

The software is backed by a team that’s passionate about a more people-centered approach to elearning – providing unparalleled support to help customers deliver real impact.

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