The corporate training market, which Allied Market Research estimate valued at more than $400 billion, has grown significantly in recent years as companies realize cost savings in upskilling their workers. One PwC report found that teaching employees additional skills can save companies between 43% and 66% in layoff costs, depending on salary.
However, rapidly building and analyzing the impact of learning programs remains a challenge for organizations of certain sizes. In a year 2019 surveyThe Harvard Business Review found that 75% of managers are dissatisfied with their employer’s learning and development (L&D) function, and only 12% of employees apply new skills learned in L&D programs to accomplish their goals. do their job.
Seeking answers, the trio of Cambridge scientists — Chibeza Agley, Sarra Achouri and Juergen Fink — co-founded Obrizum, a company that applies “adaptive learning” techniques to upskill and retrain employees. Leveraging the AI engine, the co-founders claim that Obrizum can tailor the company’s learning experience to individual employees, identify knowledge gaps, and measure things like learning effectiveness.
Agley, CEO of Obrizum, told TechCrunch in an interview: “It is increasingly clear that businesses will need to continue to invest heavily in effective, successful training and knowledge sharing. regardless of how their workplace is set up. “We are addressing a common industry problem of efficiency. Businesses have less time than ever to create learning or assessment programs. Meanwhile, more and more information is being taught.”
So how does Obrizum achieve this? By creating what Agley calls “knowledge spaces” instead of linear training courses. Obrizum works with the company’s existing training resources, analyzing and organizing webcasts, PDFs, slideshows, infographics, and even virtual reality content into tailored white-label modules. based on learner performance in regular assessments.
Obrizum’s algorithms can reinforce concepts and emphasize weaker areas, Agley claims, by detecting guessing and “click-through fraud” (i.e. fast-forwarding through video).
“Obrizum makes it much easier to display and use valuable information that may not have been traditionally used for learning or training,” says Agley. “In Obrizum, an individual’s data is used to benefit that individual — that’s how it should be. Then, at the organizational level, machine learning can be used to spot trends and patterns that can benefit the majority. . . . Administrators can view real-time summary data including usage statistics and performance analysis related to core concepts for groups of learners. Management users can also drill down into individual user performance and activity.”
For employees who are uncomfortable with Obrizum’s analysis in the era common workplace monitoringFortunately, they can anonymize themselves and — comply with GDPR — request deletion of their personal data through self-service tools, Agley said.
According to Agley, as Obrizum looks to the future, the company will invest in more comprehensive content automation and analytics technologies, integration with third-party services, and the ability to collaborate and share. Pressure to stand out from rival platforms like Learn softwareallows for automated assembly training and tracking of metrics such as accreditation, as well as the creation of credentials and certifications for management audits and audits.
Obrizum also competes with worker, a precision skill enhancement platform; software tools as a service Growth space; And to a lesser extent go1, which provides a set of online learning tools and materials for businesses that mine content from a variety of publishers and silos. The good news is, enterprise learning software remains a lucrative space, with investors pouring more than $2.1 billion into a range of startups focusing on “skilled” employees from February 2021 to February 2021, according to Crunchbase data.
Agley states that Obrizum is currently working with about 20 corporate clients, including a growing group of government, aerospace and defense organizations. He declines when asked about Obrizum’s revenue, revealing only that it has grown 17 times since the end of 2020 — largely due to customer digital transformation efforts that kicked off in the era Translate.
“Obrizum is a non-industry solution that is key to our ability to scale quickly and flexibly even in a challenging macroeconomic environment. . . . Even when it comes to learning experience platforms, Obrizum stands out for the level of automation, the granularity of adaptability, and the diagnostic detail of the analytics it provides,” said Agley. . “We are extremely optimistic about opportunities in our sector despite the broader economic outlook. Learning has been and will always be a must in the world of work and in the post-pandemic world, the rapidly expanding business learning market.”
To date, Obrizum — with 38 employees — has raised $17 million in venture capital. That includes the $11.5 million Series A led by Guinness Ventures with participation from Beaubridge, Juno Capital Partners and Qatar Science & Tech Holdings and Celeres Ventures, which closed today.