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Mar
15
2016

Latvia’s BranchTrack lands a seed round of euro 250,000

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    BranchTrack
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BranchTrack – a revolutionary online service for building interactive corporate training closed euro 250,000 seed round. Investors include Imprimatur Capital, Coffee Ventures and Zbigniew Gulbinowicz (Blue Bridge Baltic Lithuania).

At the end of 2015, BranchTrack received one of the training industry’s biggest awards –E-learning Award 2015.

When accepting the silver award as the most innovative new learning product of 2015 at the gala event in London, BranchTrack CEO Sergey Snegirev commented, “It is an honour to receive an industry award of such level. We are grateful to the jury and everyone who supported BranchTrack. Between the industry acknowledgement and the €250k seed round deal we are in an excellent position to deliver an even greater product for our customers than before.”

Coincidentally, the same day BranchTrack was awarded in London, it was also announced as the Best Startup at How To Web conference in Bucharest, receiving a $10’000 prize money. BranchTrack was the only startup from the Baltics in the competition finals.

Seed round will help BranchTrack to aggressively attack a growing $130bn market for corporate training and start business development activities in Western Europe, US and other regions.

At the moment BranchTrack simulation software is used in more than 1500 companies worldwide including paying customers like KPMG, Pearson, Mary Kay, Slack, Johnson & Johnson, PwC and others.

BranchTrack plans to release significant improvement to its software, expand sales activity, introduce new sales channels and get to a €100k monthly recurring revenue during the next 12 to 18 months.

Cofounder and Head of Product Jean Mauris comments, “I'm very excited to be part of BranchTrack team. E-learning industry today reminds me of the webdesign industry ten years ago. Back then you needed professional services to develop even a simple website. Today, there are plenty of ways to create much better websites on your own, and at a fraction of the cost. We are doing the same in corporate training. We are taking on agencies who produce expensive custombuilt simulations. Now any company in the world can use our platform to build their own training that is impactful, beautiful and works out of the box, at a fraction of the cost.”

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