An e-learning software authoring platform

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Application Software



Deal type

Growth Capital

Investment size


Investment date(s)

2019, 2020, 2022 & 2023



"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 e-learning with real impact. We selected YFM as our investment partner because of their proven track record of working with businesses to accelerate global growth, whilst ensuring their portfolio companies consider their impact on society and the environment."

Steve Penfold, CEO of Elucidat

The business

  • Provides a cloud-hosted programme which allows businesses to write e-learning software for employees
  • Impressive customer retention and a client list including Tesco, Target and Walmart
  • A management team with a blend of experience in both private equity backed SaaS businesses and engineering

The strategy

  • Invest in the technical team to maintain quality and accelerate progress on the product road map
  • Recruit further in the marketing and customer support teams to drive sales and ensure client satisfaction remains high
  • Build on the positive market dynamics and strong overseas revenue
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