OpenSesame Closes $9 Million in Series B Funding

PORTLAND, Ore., Sept. 28, 2016 /PRNewswire/ -- OpenSesame, the leader in on-demand elearning courses for the enterprise, announced today it raised $9 million in a Series B funding round led by Altos Ventures with continued participation from Partech Ventures.

"OpenSesame has experienced tremendous growth in the last two years because leading organizations understand that simple and effective online training gives them a competitive advantage," said OpenSesame's CEO, Don Spear. "It is exciting to have Altos Ventures bring their deep experience to OpenSesame. Ho Nam's insight and counsel on our Board of Directors will be a great addition." Ho's experience includes leading Altos' investments in Axis Systems (Cadence), Enwisen (Infor), Evolve (Oracle), Pixo (Sun), SayNow (Google), and Yosemite Technologies (Barracuda Networks) among others. In addition, Nicolas El Baze of Partech Ventures will continue his role on the Board of Directors.

The funding round will further accelerate sales and marketing efforts and support OpenSesame's best in class customer experience. Additionally the Company will use the backing to continue global expansion and enhance product offerings in new training technologies like Augmented Reality and Virtual Reality.

"Altos Ventures invests in companies that are leaders in their industry," said Ho Nam, Managing Director for Altos Ventures. "OpenSesame's continued growth with strong fundamentals, innovative market approach and accomplished management team is exactly what we look for in a strong partnership." This is Altos Ventures' second investment in a Portland-based company, a testament to Portland's establishment as a hub for start-up technology companies and recruiting talent. 

Technology, generational transition, and competition are driving change more quickly than ever before. Organizations realize that everyone from entry level employees to senior executives need to advance their skills to stay productive and grow. And elearning is now the most efficient way for workers to gain skills anytime and anywhere. OpenSesame continues to experience success in addressing the elearning course needs of leading enterprise companies such as Toshiba, Wyndham Hotel Group, CSX, Rheem and Estee Lauder.

About OpenSesame
OpenSesame is the trusted provider of on-demand elearning courses for the enterprise.
Serving Global 2000 companies, OpenSesame delivers:

• The most flexible buying options to maximize training & development budgets
• The broadest catalog with 20,000+ courses from the world's leading publishers, updated constantly
• Compatible with every Learning Management System (LMS)

For more information visit www.OpenSesame.com or follow @OpenSesame on Twitter.

About Altos Ventures
Altos Ventures invests in fast-growing software, mobile and Internet companies across North America and South Korea. Preferring founder-led companies, Altos looks for teams that can grow efficiently and will benefit from an active partnership. Altos Ventures has offices in Menlo Park, CA and Seoul, South Korea.

For more information visit www.altos.vc

Contact: Tim Greve - [email protected] (503) 818-1268 x321

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SOURCE OpenSesame