World’s first complete Learning and Skills Platform THRIVE soars past £4 million revenue milestone
THRIVE Learning, the world’s first complete digital Learning and Skills Platform, has reached an elusive growth milestone after its annual recurring revenue (ARR) soared to £4.2 million.
The milestone figure means THRIVE’s ARR has increased by more than 184% in the last 12 months and has risen by more than tenfold from the year of the company’s founding in 2018, when its ARR stood at £400,000.
In addition to increased revenue, THRIVE saw its customer base grow by 90% from 144 to 274, featuring numerous household names such as Coca-Cola EP, Matalan, the Financial Times, Nando’s, Sky, Krispy Kreme, Ted Baker, Travis Perkins, Ann Summers, and Morrisons, among others.
This period also saw the company’s employee headcount increase by 87% from 61 to 114. In addition to teams spanning the UK, THRIVE now has employees in several US states including New Hampshire, Arizona, Colorado, Massachusetts and Missouri, Toronto in Canada, and soon, New South Wales in Australia.
The strong growth was boosted even further earlier this year, when THRIVE repositioned their platform as the world’s first complete Learning and Skills Platform, giving learning and development teams a seamless, accessible way to manage, develop and track skills across their entire organisation in a way that they’ve not been able to before.
The platform brings together the compliance capabilities of an LMS, the learner-led social feel of an LXP and a new skills development platform, giving L&D teams a one-stop shop for learning, upskilling, communication and collaboration across their organisation.
Earlier this year, THRIVE also expanded its senior team with the appointment of Sacha Harvey as its new Head of People and Culture. The appointment will help the firm continue to make heavy investments in its people strategy while it strives to become the modern employer of choice and one of the best places to work in the UK.
Sean Reddington, CEO and Founder at THRIVE, said: “Building a business from the ground up during a pandemic was never going to be an easy ride. But, now that we’ve reached the other side, it’s clear we’ve been doing something right. The 83 attempts to acquire or invest in THRIVE in the first four months of this year tell me that much.
“Our growth trajectory is more than just numbers. It’s proof that our approach to modernise learning and development is having a massive impact on hundreds of businesses and employees across the world. Now, we’re set to make an even bigger impact - our growth trajectory puts us on track to reach £6.5 million annual revenue by the year’s end, which is a 16-fold increase from our first year in operation.
“All of this wouldn’t have been possible without our people. We’re proud to say that our employees are at the heart of everything we do. We’ve created a unique culture here, welcomed some brilliant people, and they’ve laid the foundations for our ambitious future plans.”
