Cambridge technology startup OBRIZUM has clinched $11.5m in Series A funding taking its haul to date to $17m.
The latest round was led by Guinness Ventures with contributions from existing investors Beaubridge, Juno Capital Partners and Qatar Science & Tech Holdings and new backer Celeres Ventures.
OBRIZUM uses advanced Artificial Intelligence to quickly create, tailor and measure high-quality digital learning on a global scale. It empowers organisations to make data-driven decisions that allow them to grow, succeed and nurture their people through engaging digital transformation. Its technology is already used by household name clients in Europe and the US.
The company was founded by a trio of PhD-trained Cambridge scientists – Drs Chibeza Agley, Sarra Achouri and Juergen Fink. Its tech platform allows clients to optimise staff performance and workplace satisfaction through adaptive learning – saving firms time and money and future-proofing their workforce.
OBRIZUM co-founder and CEO Chibeza Agley, said: “Given that human capital costs are almost always one of the highest outgoing expenses in any business, not having a highly trained workforce who have easy access to the information they need to upskill fast is costing enterprises hundreds of millions of dollars every year and limiting their growth potential.
“We founded OBRIZUM because we knew existing systems of learning and training would not withstand the ever-expanding and rapidly changing global body of knowledge.
“We have since been proven right in our predictions that automation would be crucial, time would be at a premium, personalisation would be a requirement rather than a luxury and data would be the most precious of all commodities.”
The corporate training market is expected to grow to $475 billion by 2027as companies across all sectors recognise the continual need to keep their workforce up-to-date, relevant and productive.
However, they are currently unable to create learning programmes quickly enough to match their skills development needs. OBRIZUM’s platform is built on automation, adaptability and analytics to enable businesses to measure digital learning and assessments at scale.
With remote working booming post-COVID, the digital slice of the corporate learning market has upsized from 14 per cent to c.33 per cent and climbing, so OBRIZUM’s Series A comes at an opportune moment to cater to this growing demand.
Trusted by customers in the corporate, government, aerospace, and defence sectors, OBRIZUM’s platform provides a unique way of organising content resources meaning that companies can offer fast-paced learning opportunities, on any topic, which adjust in real-time based on proven understanding.
Its Artificial Intelligence automatically analyses and curates multimedia content into modules dramatically reducing manual effort for human operators.
As well as automating the build or updating of learning programme, OBRIZUM individualises user journeys through content and assessments on-the-fly enabling ultra-efficient knowledge and skill transfer. OBRIZUM’s algorithms can both challenge users on concepts they are good at and strengthen them in topics they are less proficient in.
Dr Agley added: “We would like to thank our new and existing investors for their support in this milestone funding round for our business, as we accelerate our mission to shape the workforce of the future through adaptive learning powered by data-driven training and knowledge transfer.
“We also wouldn’t be where we are today without our partnership with Capita Plc, who have enabled us to win corporate and public sector deals at an accelerated rate.”
Shane Gallwey, Head of Guinness Ventures, was full of praise for the young company. Gallwey said: “OBRIZUM’s adaptive learning technology not only cuts training times for large enterprises but ensures better learning outcomes.
“The return on investment for enterprises who use their technology is startling and explains the take-up of OBRIZUM by household names here in Europe and the USA.
“At Guinness we recognise the OBRIZUM management team as insightful and driven and with a strong commercial appreciation of what is required to build a world-class business in the education technology field.”