CALGARY, Alberta–(BUSINESS WIRE)–Aug 14, 2018–Absorb Software, a leading provider of cloud-based learning and performance management software and analytics for the corporate and higher education markets, is capitalizing on the current e-Learning boom via international expansion. In 2018, Absorb opened new offices in the US, Australia, and China. Together with a stable of senior leadership hires, industry recognition in Forbes and new delivery models on the horizon, Absorb is well positioned for immediate growth in the expanding learning economy. This further validates the $59 million strategic growth investment of Silversmith Capital Partners in 2017 who saw potential in the Absorb learning management system (LMS).
Market research from Global Industry Analysts projected e-Learning would reach $107 Billion by 2015—which it did. Now, Research and Markets forecasts a sector explosion to $325 Billion by 2025. Absorb is now experiencing the front edge of that wave, fueling its international expansion and continued innovation as corporate training becomes a bigger part of HR management and employee retention strategies.
“Entering 2018, we were confident that the growth we were experiencing would only accelerate,” said Absorb Software CEO, Mike Owens. “International expansion was the next logical step as global customers raised their hands to partner with us. The response has been overwhelming, as more customers launch learning on Absorb and see the positive effects it has on their organizations.”
Beyond launching offices in Boston, Massachusetts, Sydney, Australia and Shanghai, China, Absorb expanded its Calgary, Alberta headquarters by adding a second location, doubling its footprint in Calgary. New marketing campaigns have launched to drive company momentum and further elevate Absorb within the LMS marketplace.
“While we add new customers, we likewise grow together with our existing ones—many of whom have been with us for years,” said Owens. “Our commitment to ongoing innovation and customer service offers clients what they need to thrive.”
This sentiment was echoed by longtime customer, Pam Henry, President of Digital Spark, LLC, who has been with Absorb since 2010. “We originally chose Absorb because it had better features, was easier to learn, and had a clean UI. Years later, we still find the features, stability, performance, and service we get from Absorb to be a great value—you just can’t get what they offer from most tech companies.”
Looking ahead, Absorb will be expanding its content offering and introducing new platform models, innovations designed to accelerate corporate growth.
About Absorb Software
Absorb Software is a learning technology company based in Calgary, Alberta Canada, with subsidiaries in England, Ireland, Australia, China and the United States. The Absorb flagship product, Absorb LMS, is an industry-leading and award-winning Learning Management System for businesses, higher education, government and non-profit agencies around the world. Learn more at www.absorblms.com, or follow the company on LinkedIn, Facebook, or Twitter.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact, LifeStance Health, Nordic Consulting Partners, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com.
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SOURCE: Absorb Software
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PUB: 08/14/2018 11:20 AM/DISC: 08/14/2018 11:20 AM
Copyright Business Wire 2018.