Children are back in school, and the leaves are beginning to change colors as we enter the last quarter of the year. As we do every quarter, let’s take a look at the deals that occurred in the third quarter of 2020.

Compliance Training

In a year when health and safety training is more vital than ever, the compliance training sector of the market saw some activity this quarter:

IT and Technical Training

Among companies that provide training products and services for information technology (IT) teams and professionals:

Leadership Training

Fortune reported in August that Eruditus, a Mumbai, India-based company that sells executive education courses, raised $113 million in Series D funding led by Leeds Illuminate and Prosus Ventures. Also that month, Ceresa, a platform aimed at improving equitable access to leadership development, closed an early seed funding round of over $1 million led by LiveOak Venture Partners and Next Coast Venture Partners.

Learning Technologies

In the always-busy learning technologies segment of the training market:

Synapse, a software company that “streamlines training intake, project prioritization, capacity planning and content design processes,” announced a $1.5 million seed II financing round from BDC Capital, Ripple Ventures, Differential Ventures and Generation Ventures.

Virtual and Augmented Reality

    • Varjo, a virtual reality (VR) and cross reality (XR) software and hardware company for enterprise applications including training, closed a $54 million Series C funding round.
    • TeamViewer, a remote connectivity solutions provider, announced an agreement to acquire Ubimax, a wearable computing and augmented reality (AR) solutions provider for the frontline workforce.
    • TechCrunch reported that Osso VR, which uses VR for medical device training, closed a $14 million round of financing led by the investment arm of health care company Kaiser Permanente. Similarly, Crunchbase reported that VR surgical training platform Immertec closed a $6 million Series A funding round.
    • Fortune reported that VRAI, an artificial intelligence (AI)-powered VR training provider for dangerous environments, raised $1.42 in seed funding.
    • TPC Training, a training, performance and compliance company, acquired Simutech Multimedia, which sells simulation-based training for maintenance and operations professionals.

Measurement and Analytics

In July, Perceptyx, an employee survey and analytics platform, acquired the employee insights business of Kantar, a consulting company. The following month, Russell Reynolds Associates, a leadership advisory and executive search firm, acquired the cultural analytics business of Workplace Analytics, LLC.

Online Learning

In the area of self-paced eLearning and live virtual training:

In a related area of the market, we saw some activity among companies that enable remote work and collaboration:

    • Lifesize, an immersive enterprise communications solutions company, acquired Kaptivo, a digital collaboration solutions provider.
    • MURAL, a digital workspace that enables visual collaboration, closed $118 million in Series B funding led by Insight Partners.
    • Mighty, a platform for leading remote and cross-functional teams, closed $4.3 million in seed funding from Slack Fund, GSV Ventures, Origin Ventures, Album VC, Acadian Ventures and Village Global.

Performance and Talent Management

In the segment of the market that focuses on managing employees and their performance:

Sales Training and Enablement

Deals this quarter for companies that help organizations support their sales teams included:

Workforce Development

Finally, workforce development companies saw some activity this quarter as well, particularly in the areas of improving access to employment for two specific groups. The Mom Project, which helps mothers with their careers and employers make their workplace more equitable and supportive of working parents, announced a $25 million Series B funding round led by 7GC. InsideSherpa, a platform for virtual internships, raised $9.3 million in Series A funding led by Lightspeed Venture Partners, according to TechCrunch.

What are your thoughts on the third quarter? What predictions do you have as we close out the year? Let us know!