Attensi announces $26M investment from Lugard Road Capital, DX Ventures, and Viking Venture for global expansion

Picture: Anne Lise Waal and Trond Aas, respectively CTO and Co-CEO and Co-Founder and Co-CEO of Attensi

Corporate Learning and Development (L&D) technology innovator Attensi is executing its plans for global expansion after raising $26m from New York-based Lugard Road Capital, DX Ventures, and existing shareholder Viking Venture. The investment follows several years of rapid growth for the company, during which Attensi has recorded a 63% CAGR in annual recurring revenue and executed projects for a wide range of international blue-chip customers. The new funding will be used by Attensi to extend its presence in North America and Europe and to expand upon its leading product suite and technology platform in gamified simulations.

– Attensi solutions enable organisations to upskill their people faster, consistently, at scale, with results beyond the capabilities of traditional methods like e-learning, video, or classroom training. With gamified simulation training, we have combined the best of workplace psychology with our expertise in simulations and gamification to create a new category of training solutions. Our gamified simulations create significant real-world impact on companies’ core business metrics, said Attensi Co-Founder and Co-CEO, Trond Aas.

– This funding round enables our ambitious growth plans. With Lugard Road Capital we are bringing in a major US investor with experience of growing SaaS companies into global brands, Aas continued.

With a client base that includes Daimler Mercedes Benz, Circle K, Equinor, BCG, and ASDA, Attensi uses a fusion of technology from the world of video gaming and insights from workplace psychology to train people via immersive, 3D simulations of their workplace and work processes. At the end of last year, the company announced plans to further develop its technology platform and enter new markets by the end of 2021. The fundraise from Lugard Road Capital, DX Ventures, and Viking Venture represents an acceleration of these plans.

– This is exciting news for everyone at Attensi. With the Attensi Technology Platform users across the globe can create high-end gamified solutions with our powerful no-code toolset. This investment will be instrumental in further expanding our cloud native SaaS platform and product suite. The Attensi Technology Platform will equip companies across all sectors to deliver on the challenge of continuous development and upskilling of their workforce. Our current plans for organisational expansion will see our staff count grow rapidly from the current level of 120 to well over 200, said Anne-Lise Waal, CTO and Co-CEO at Attensi.

– We could not be more excited to be investing in the Attensi team as they work to forever change and improve corporate learning and development through their Attensi solutions, said Doug Friedman, partner at Lugard Road Capital.

– Learning and development opportunities are becoming a decisive competitive factor to improve performance, attract and retain talent. We are thrilled to support Attensi to achieve its mission to make corporate training more effective and engaging, said Duncan McIntyre, Managing Director at DX Ventures.

– It’s been exciting to see the rapid growth and impressive development driven by the ability to bring in global top brands as customers during our time as investor in Attensi. This capital raise expands the investor universe with investors we know well from other Viking Venture portfolio companies and allows Attensi to continue its global expansion at increased pace, Eivind Bergsmyr, Partner at Viking Venture, commented.

Established in 2009, Attensi has delivered gamified simulation training in more than 100 countries in 20 languages. Attensi solutions are used to simulate human interactions and work processes, including interpersonal ‘soft skills’, leadership training, use of IT-systems and any form of staff certification. Whether on mobile, desktop, or VR, Attensi’s gamified simulation approach enables organisations to upskill their people effectively, consistently, at scale, with all the data required to track impact on KPIs.

Attensi clients are corporate blue-chip companies in health care, pharmaceutical, financial services, professional services, retail, hospitality, manufacturing, shipping, offshore and transport, as well as public and third sectors. The company’s total revenue annual run-rate is currently $12m, and is headquartered in Oslo, Norway, with offices in London, UK, and Palo Alto, USA.

Pareto was engaged as Global Coordinator for the equity issue. GCA Altium is acting as the Global Financial Advisor to the company. Thommessen acted as the legal advisor in the transaction.

About Attensi

Driven by the best of psychology, learning, and gaming, Attensi gamified simulation training engages your people with measurable impact on your KPIs. Whether on mobile, desktop, or VR, Attensi solutions empower people to learn new skills and behaviours in a fun, engaging way. The results enable organisations to excel in staff training, onboarding, and retention.

Attensi has delivered gamified simulation training in more than 100 countries, in 20 languages, and employs over 100 staff. Attensi is headquartered in Oslo, Norway, with offices in London, and Palo Alto, USA.

About Viking Venture
Viking Venture is the leading Nordic Software investor with more than NOK 3 billion under management. Since 2001, Viking Venture has invested in more than 50 Nordic companies with a particular focus on scaling Business-to-business (B2B) Software-as-a-Service (SaaS) companies. Viking Venture has been the lead investor of Attensi since 2018.

About Lugard Road Capital
Lugard Road Capital is a multi-billion-dollar global investment fund primarily focused on public and private companies in the Internet, software, consumer, and technology sectors.

About DX Ventures
DX Ventures is a venture capital fund backed by Delivery Hero. The fund’s mission is to support the next generation of founder-led companies that are disrupting some of the most rapidly changing industries around the world. The investment philosophy is centered on building long term partnerships with founders to provide support throughout the lifecycle and actively create value.