2015 founded GO1 raised over $30 million in series B funding from M12, Microsoft’s global Venture Capital arm. With this fund-raising activity, GO1 becomes the first Aussie start-up firm to be backed by M12.
GO1 was founded by Andrew Barnes, Chris Hood, Vu Tran and Chris Eigeland in 2015. The company’s software helps its client train their employees and customers. The software makes it easier for companies to provide corporate training.
GO1 functions as an online marketplace for professional development and training. The company has completed the Y Combinator accelerator in the US. GO1 is now covering a wide range of industries and has established itself as a leader in online education and learning. The company aims to be the most used source for professional learning by 2020. The company has more than half a million courses and learning resources from a slew of content partners.
The company has also seen keen interest from the education market. Lat year the company had landed a deal with Complispace and expanded its reach into the school training space. That deal had the potential to reach twenty percent of the non-government schools across Australia, as per the company’s report. The company was named among the top 25 most sought-after start-ups in Australia by Linkedin. More than twenty million users have access to GO1’s content.
It comes as no surprise that the slew of deals and the wide opportunity available to GO1, there has been a keen interest in the company even from Australian firms like Seek (ASX: SEK) , an ASX listed unicorn which was also a GO1 customer at the time of the investment. GO1 raised $10 million in Series A funding and was backed by Seek in August 2018. Prior to this the company also had raised $4 million from Blue Sky ventures, Black Sheep capital, Tank Stream Ventures, and full circle ventures.
M12, previously called Microsoft Ventures, typically invests between series A and Series D. The series B funding from Microsoft’s M12 should help the company to grow rapidly in the US and UK markets. The company had recently opened its London office taking its operations closer to the UK market.
M12 supports its investee companies by providing the opportunity for the companies to connect with the Microsoft customer base. It also opens access to the Microsoft’s enterprise sales team, which is the world’s largest enterprise sales team. This should augur well for GO1 as it adds to its credibility and helps it further grow using the enterprise sales team.
Post the deal with M12, One of M12’s partner Priya Saiprasad is getting a board seat at GO1. Priya has worked on several acquisitions in mobile payments, AI and machine learning spaces etc. She has worked as Deal lead as a part of Square’s Corporate development team. Priya was an investor at Saints Capital prior to joining Square.
The M12 funding of GO1, would further validate the vibrant Australian start-up ecosystem.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.