The Venture Codex

Participated · Equity · May 2020

Headquartered in Park City, Utah, eLearning Brothers provides integrated learning and development products and services including custom learning design, learning management/experience platforms, rapid authoring (Lectora), VR course creation (CenarioVR), and game-based solutions. The company has been expanding through acquisitions and recently added Rehearsal and Origin Learning to its portfolio. Its offerings already include The Game Agency, Lectora, CenarioVR, and the Rockstar Learning Platform, creating a broad one-stop platform for corporate learning. The company used new investment proceeds to fund acquisitions and to restructure its balance sheet. Prudential’s PGIM Private Capital replaced prior debt providers and is now the sole debtholder, enabling a recapitalization of debt. Management and investors state the moves better position eLearning Brothers for further acquisitions and continued integration of its expanding product suite. eLearning Brothers offers a complete suite of integrated training development and delivery tools for corporate learning, pairing professionally designed courses and templates with authoring and delivery technology. The company’s product set includes the Lectora rapid authoring tool, the CenarioVR virtual reality course builder, and the KnowledgeLink learning management system. The announced financing is being used to enable simultaneous acquisitions of Trivantis and Edulence, expanding its technology and content footprint. Management and investors say the combined platform is intended to serve growing global demand for customized, fully integrated online professional development—demand that has accelerated during COVID-19. eLearning Brothers also creates custom learning solutions and supports learning developers with game modules and templates. Investors plan to continue adding acquisitions to the platform.