Wilson Sonsini Goodrich & Rosati advised Skilljar in the transaction
Skilljar executed a $16.4 million Series A from new investors Mayfield and Shasta Ventures, with participation from existing investor Trilogy Equity Partners.
Founded by Amazon veterans Sandi Lin and Jason Stewart, Skilljar tripled the number of customers year over year in 2016 and 2017, primarily through word-of-mouth marketing. As a result, Skilljar is in a strong position to lead the customer training market estimated to be worth $12 billion. Lin and Stewart originally met while working at Amazon, where Lin recognized the need for a scalable training platform to educate Amazon Marketplace sellers on how to best succeed on the platform. Since its founding in 2013, Skilljar has partnered with businesses across multiple industries and geographies – from North American self-move and self-storage leader U-Haul and Latin American marketplace leader Mercado Libre to technology innovators MapR and Zendesk.
The value of proactive customer education has become mission-critical for companies. According to industry research, 28 percent of business software licenses are unused or underused, leading to customer dissatisfaction and churn. Skilljar’s customer training platform helps companies generate millions of dollars in new and retained revenue, train thousands more end users per month, accelerate customer onboarding time by as much as 90 percent, and improve operational efficiency by more than a third.
New investors and Skilljar board members Rajeev Batra of Mayfield and Doug Pepper of Shasta, who were co-investors in marketing automation leader Marketo, underscore Skilljar’s potential as a category defining SaaS leader.
Skilljar will use the new financing to expand their team, fuel go-to-market programs, and accelerate product development.
WSGR advised Skilljar with David Wickwire (Picture), Adam Shevell, Kari Manlove and Barbara Mery.
Law Firms: Wilson Sonsini Goodrich & Rosati;
Clients: Skilljar Inc. ;