Degreed’s acquisition of Pathgather brings together the two innovators in learning experience (LXP) platforms – the two organizations that literally created the market.
Specifically, the Pathgather acquisition will accelerate the three-year timeline earlier outlined for achieving Degreed’s goal of $5 – $8M USD in sales in India. The estimated size of the Learning Experience Platform (LXP) market is USD 211 billion globally and USD 141 billion in the US alone. Degreed will now have stronger and additional resources to support our growing team in India.
A Learning experience platform (LXP) curates and recommends content based on your role, experience, goals, and interests. It lets employees publish and share content they find useful and it uses data, AI and machine intelligence to recommend, nudge, and push content to people based on the skills they want (or need) to develop.
It is not the traditional Learning Management System deployed in the past by organizations to track and manage training programs and compliance. Organizations in India are slowly beginning to recognize that employees want a consumer-like experience for their learning requirements and tools made available for learning. This is where Degreed steps in.
The acquisition solidifies Degreed’s lead in the fast-growing learning experience platforms market, and the two organization together have a client base of more than 200 organizations, over 4 million licensed users, and nearly $100 million in funding.
“This combination makes us the unequivocal leader in learning experience platforms,” said Chris McCarthy, CEO of Degreed. “Corporate learning budgets are shifting fast, and LXPs have emerged as the new operating system for employees’ training and development. Pathgather and Degreed defined this market. Now, together, we have the products, expertise, relationships and war chest we need to accelerate innovation, and dramatically accelerate our growth.”
With an expanded set of resources and capabilities, Degreed is now planning to expand its functionality to further enhance both clients’ and users’ experiences. To start, it will include:
● Sustaining lead with the best-in-class learner experience
● Expanding access to more and better learning content
● Improving administration, content management, and reporting capabilities
● Accelerating use of data science and machine learning
● Continued investment in its proprietary skill rating and certification technologies
Degreed Fast Facts – Founders, Funding, Acquisitions – https://www.crunchbase.com/o
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