Global collaborative learning SaaS firm 360Learning has acquired London-based learning management system Looop.
Founded by Ben Muzzell and Dan Gray in 2014, Looop has become a leader in learning and development automation. Instead of taking people out of their day jobs to improve their skills, Looop harnesses technology to embed learning into their workflows.
It has partnered with the likes of Klarna, Monzo, Financial Times, Cazoo and ASOS, reaching cash flow positivity, an annual growth rate of 100% and a projected ARR of $6.5 million by end of 2022.
360Learning, headquartered in New York, has built a platform which empowers learners to build their own skills, create courses in as few as 17 minutes and share knowledge throughout the business.
Since launch, 360Learning customers, from the likes of LVMH, Aircall, Toyota and Appen, have created more than three million courses.
Barely a month after committing to using its latest $200 million funding round to invest in M&A, it has snapped up Looop for around £15m.
“Together, 360Learning and Looop will build a new era of collaborative learning where subject matter experts are fully utilised, L&D workflows are fully automated, and L&D professionals go from admins to true collaborative operators with a laser focus on data-driven performance,” said Nick Hernandez, founder and CEO of 360Learning.
Ben Muzzell, founder and CEO of Looop, said: “We started Looop because L&D deserved better than the outdated technology they were being burdened with.
“They needed tools to be true collaborators, not just administrators, so that’s what we built, and that’s what we’ve seen work fantastically well.
“360Learning saw the same need at the same time, and to now join forces with combined resources, complementary approaches, and a shared belief in Collaborative Learning is unbelievably exciting.”