Elucidat sees growth as businesses turn to online training

E-learning software firm Elucidat is reporting an increase in sales enquires for Q2 2020 as online training becomes the norm during the Covid-19 pandemic, Insider Media reports.

Elucidat received £3.5m of growth capital from YFM advised funds in May 2019. Since the investment, the business has seen continued growth and opened a new office in the US. Elucidat is now preparing to launch a new ‘Learning Accelerator” tool in September and was named one of the UK’s Best Places to Work in 2020.

Chief executive Steve Penfold (pictured above) is quoted in the article. He says:

“With the power of digital technology now being harnessed in so many aspects of the work environment, we enjoy a very positive market dynamic as large, international organisations have come to realise that they need to take their training online.”

James Savage, a Partner on the Portfolio Team at YFM, sits on the board of Elucidat. He is also quoted in the article, saying:

“When we invested in Elucidat last year, we recognised that it was a successful company with a clear product road map and a strong management team meaning that the business had real potential.”

Read the full article, PE-back Brighton firm buoyed by online shift by Storm Rannard on the Insider Media website.