360Learning – the global collaborative learning SaaS leader – is announcing it has acquired the UK’s leading and top-rated learning management system (LMS), Looop.
360Learning is acquiring Looop for $20 million, in a mixture of cash and shares. The acquisition will not have any immediate impact on each of the current businesses and customers have been assured that the two teams have a shared commitment toward maintaining a seamless user experience for customers as they move forward.
Founded by Ben Muzzell and Dan Gray in 2014, Looop has become a leader in learning and development (L&D) automation, recognized for its unrivalled user and customer experience. It shares 360Learning’s vision to transform corporate learning into a strategic function that drives business impact and was founded on the belief that the future of workplace development lies in reaching staff where they are. Instead of taking people out of their day jobs to improve their skills, Looop harnesses the power of technology to embed learning into their workflows.
This innovative approach has powered the company to rapid user and revenue growth year on year. It has seen the firm become the go-to L&D partner for the world’s most progressive companies, and employees from Klarna, Monzo, Financial Times, Cazoo, and ASOS now trust Looop’s data-driven technology to empower them and drive performance. This has enabled the company to reach cash flow positivity, an annual growth rate of 100%, and a projected ARR of $6.5 million by end of 2022.
Looop’s LMS consistently achieves the highest overall satisfaction ratings on eLearning platforms including Capterra (4.9/5), G2 (4.9/5), and eLearning Industry (97%). Its focus on simplicity and delivering a seamless integration into existing corporate training programmes via its world-class UX has seen the platform be compared to “electricity” by clients. It’s this passion for improving the learning journey through its smooth integration that makes Looop the perfect first acquisition in 360Learning’s mission to bring collaborative learning to L&D departments across the world.
Both companies share a vision for performance-focused collaborative learning that helps companies adapt and succeed in the face of unprecedented shifts in remote work, employee turnover, and a looming skills shortage. With companies looking to increase their corporate education spending in a bid to stem the Great Resignation, the LMS industry is expected to grow from $15.8 billion in 2021 to $37.9 billion by 2026. Both companies believe that best-in-class technology is the key to creating a positive, premium user experience, and that data-driven decision making is key to unlocking the transformation of the industry to the benefit of businesses around the world.
Source: Businesswire
