17 January 2023
Investment will fund expansion of Brighton-based Elucidat’s international customer base, which includes Tesco, Kingfisher, Metro Bank and Decathlon
Elucidat reached its 35th million learner in 2022
Elucidat received the Great Place to Work award in 2020, 2021 and 2022
YFM Equity Partners (YFM) is pleased to announce the completion of a £2m follow-on investment into portfolio company Elucidat, an elearning authoring platform for enterprise customers globally.
Founded in 2014 and based in Brighton, Elucidat is a leading elearning authoring platform that enables its customers to enhance their learning and development goals by producing digital learning content faster, without compromising on quality.
Elucidat’s international customer base includes Tesco, Kingfisher, Metro Bank and Decathlon, all of whom recognise the power of capturing knowledge to create tailored learning experiences for staff that can substantially improve business performance. Driven by its mission to help people create impactful elearning by unlocking knowledge from any employee, Elucidat has scaled rapidly, reaching its 35th million learner in 2022.
YFM first invested £3.5m in Elucidat in 2019 to accelerate product development and drive growth in North America. Its latest funding round will be used to continue building Elucidat’s global customer base of large enterprise organisations.
James Savage, Partner at YFM Equity Partners, said: “Our strategy is to partner with and support our successful companies as they scale. We are delighted to offer further support to Elucidat, whose proven technology enables Learning & Development professionals in some of the world’s largest organisations to drive real change with engaging elearning.”
Steve Penfold, CEO of Elucidat said “We are delighted to continue to partner with YFM for the next phase of our growth. I have greatly valued working with James and the YFM team as we have expanded our sales reach internationally and continue to help our customers to create impactful elearning by unlocking knowledge from any employee.”
Elucidat is a proud recipient of the Great Place to Work award in 2020, 2021 and now 2022 and has partnered with Ecologi, an Environmental organisation based in Bristol, to help it reach its Climate Positive goals.
Photo: Left to right: Ian Budden (CTO); Steve Penfold (CEO); Amir Abdou (CFO) and Simon Greany (CPO).
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