Learn Amp is a SaaS learning, engagement and performance platform. Named best LEP globally in 2018.
Business overview
Location | Weybridge, United Kingdom |
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Social media | |
Website | www.learnamp.com |
Sectors | SaaS/PaaS Digital B2B |
Company number | 08570213 |
Incorporation date | 14 Jun 2013 |
Idea
Introduction
Investors will recall that we pivoted from our original product Rise To, to Learn Amp at the start of 2017. We haven't looked back since!
Learn Amp is a SaaS learning, engagement and performance platform that in less than a year from launch was cited as on of the best LEP (Learning Engagement Platform) globally. We've moved away from the SME market where we started and now focus on the mid-market and enterprise space.
Based on invoiced sales we have been profitable over the last few months (Feb-April 2018)*. We are doing a small round of funding now to accelerate our expansion before a probably larger round later this year or next. I am leading the round by converting a short term loan to equity on the same terms as I'm offering you. I do hope you'll follow on and take up your pre-emption rights.
* Based on unaudited management accounts
Intended impact
We operate in a global market estimated at around $46 billion (covering platforms like ours, e-learning content and related services).
Many of the incumbent market leaders have dated, legacy systems that are struggling to compete with offerings like ours. We plan to build new business and switch clients from existing vendors as contracts come up for renewal.
Substantial accomplishments to date
Key accomplishments:
- named best LEP in November 2017 by lead sector analyst Craig Weiss ahead of Degreed, LinkedIn, and Grovo.
- reconfirmed number one in the annual rankings and within Top 10 for learning platforms.
- top-ranking and ratings across leading review sites.
- already won business overseas in the US, Europe, and the Middle East. We have growing sales pipeline from across the globe.
- Q1 2018 inbound inquiries were up fourfold compared to the previous quarter.
Monetisation strategy
We are a SaaS business charging annually in advance based on a per user per month pricing model. Our minimum sale is for a 100 user license for £5k. Larger corporate deals will be upwards of £100k pa with larger SME and mid-market clients typically paying in the £10k to £80k per annum range.
In addition to software sales we have started to act as a reseller of content courses as many clients value or expertise in content/course curation - a point of differentiation for us. We believe that clients will often pay a similar amount for content/e-learning as they do for software.
Use of proceeds
We have an amazing and committed team but we are stretched. Funds raised will allow us to invest in content and other forms of marketing to drive inbound leads. In addition we will hiring into sales and service delivery roles.
Market
Target market
We started last year selling to SMEs, a market the founder knows well through his first venture: The Supper Club. By the end of 2017 we'd moved our focus to larger SME and a mid-market focus where deal sizes are larger. We are also now on the shortlist of numerous large, global corporates although the lead time to close is longer.
We aim to sell into the CEO/MD/HR director in SMEs and Chief Learning Officer or equivalent in larger businesses.
Characteristics of target market
The market place for learning software platforms is split between those focused on the corporate marketplace and those in the education space, although there is some overlap. We are focused on the corporate market.
Marketing strategy
Being names best Learning Engagement Platform by Craig Weiss and ranking in the top 5 on most of the leading review sites has meant we've largely reacted to inbound enquiries since the start of 2018.
With the additional funding we have a plans to increase our visibility further through key media as well as an outreach plan based around key themes we know are relevant to buyers. We also plan to invest heavily in building partnerships as a route to market. ///
Competition strategy
We are continually getting feedback from clients and prospects about how much better our UX (user experience).
We have identified a number that we know we compare with very favourably and will be targeting in the coming months.
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