YFM Equity Partners (YFM) has completed a £2m follow-on investment into elearning platform Elucidat.

Founded in 2014 and based in Brighton, Elucidat enables its customers to enhance their learning and development goals by producing digital learning content faster.

Elucidat’s international customer base includes Tesco, Kingfisher, Metro Bank and Decathlon and in 2022 the company reached its 35th million learner.

YFM first invested £3.5m in Elucidat in 2019 to accelerate product development and drive growth in North America.

Its latest funding round will be used to continue building Elucidat’s global customer base of large enterprise organisations.

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James Savage, partner at YFM Equity Partners, said: “Our strategy is to partner with and support our successful companies as they scale.

“We are delighted to offer further support to Elucidat, whose proven technology enables learning and development professionals in some of the world’s largest organisations to drive real change with engaging elearning.”

Steve Penfold, CEO of Elucidat, said “We are delighted to continue to partner with YFM for the next phase of our growth. I have greatly valued working with James and the YFM team as we have expanded our sales reach internationally and continue to help our customers to create impactful elearning by unlocking knowledge from any employee.”

Elucidat received. the Great Place to Work award in 2020, 2021 and now 2022 and has partnered with Ecologi, an environmental organisation based in Bristol, to help it reach its climate positive goals.

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YFM invests £2m to £10m into businesses with strong growth potential located across the UK through a regional network of offices in London, Leeds, Manchester, Reading and Birmingham.

Elucidat was pounded in 2013 to enable impactful elearning experiences at scale for the world’s leading companies.