Gamelearn, which develops video games to provide corporate training, has secured $ 5 million in Series A funding. Participating in the new round of funding is former sponsor Kibo Ventures, along with Oak3Capital, All Iron Ventures, UL Invest and Inveready.
The Madrid-based startup says it will use the new capital to boost the company’s “serious games” production and bolster its international presence. It currently has a customer base of 2,000 clients, spanning 50 countries. Those customers include LG, Thyssen Krupp, UPS, Hyundai, P&G, KPMG, Tetrapak, and Merck & Co.
Founded in 2007, Gamelearn is trying to shake up the corporate training industry through its in-house developed game-based learning solutions and gamification for corporations. Its video games and simulators are designed to “train, communicate, inform, raise awareness and engage” employees. The company’s founders are Ibrahim Jabary, Mai Apraiz, and Eduardo Monfort, each of whom has experience in corporate training.
His view is that custom video games and simulators can be used to meet a myriad of corporate needs such as internal communication, digital transformation, change management, leadership training, negotiation, time management, customer service, product training, project management. or compliance.
“Corporate training is boring and unattractive,” Gamelearn co-founder Mai Apraiz tells me. “Only 30 percent of e-learning courses are completed, which means that corporations around the world waste 3 of the 4 dollars invested in e-learning. We create fun and engaging training experiences that enable our clients to achieve a 93 percent completion rate. “
Apraiz says these experiences are delivered through high-quality content, gamification, and simulation in a single product, which she says no other company does. “The quality of our games is the best on the market. You can compare our products by comparing our competitors’ websites with ours. That is why we are the world’s most awarded game-based learning company. “
As proof that European technology companies are increasingly thinking globally, including pan-European, Gamelearn not only sells its products globally, but also offers “customer success” support in 4 different languages, and games of start are translated into a dozen different languages.
Regarding Gamelearn’s business model, Apraiz says that the company sells licenses to play its games on the Gamelearn platform or other commercial learning management systems with which it integrates. “We sell projects as well as subscriptions,” he adds.