Palo Alto, California — February 20, 2013 — Mindflash, the leading online training platform for businesses, today announced that it tripled its annual revenue and doubled its customer base in 2012, with over 1,000 organizations now paying for access to the company’s award-winning online employee training platforms. Rounding out a momentous year, the company also raised new funding, filled a key executive position, expanded its international presence and forged a partnership with leading social enterprise network Yammer — all at a time when global spending on Learning Management Systems is poised for rapid growth in 2013.
Mindflash customers, now including McDonalds and Lufthansa, completed over half a million courses in 2012 using Mindflash, which makes it easy to turn existing content into online courses, delivered on-demand, as well as across desktop and mobile devices.
“The Mindflash team executed brilliantly in 2012, resulting in rapid customer and revenue growth,” said Donna Wells, CEO of Mindflash. “Innovation in our product, partnerships and mobile platforms combined to drive increased adoption by larger enterprises. Companies in both in the United States and abroad are finding that Mindflash is the most efficient and effective way to train their employees and partners.”
New Funding and Key Executive Position Filled
Also in 2012, Mindflash raised $3.5 million in new funding from the Investment Group of Santa Barbara (IGSB), which the company is investing in continued enhancements to its online training platform and its sales and marketing programs. In November, the company hired Randhir Vieira, tapping the former Eye-Fi and Yahoo! executive to lead its product and marketing efforts as vice president.
Rapid Worldwide Adoption
The company also significantly increased its international presence in 2012, with over 25 percent of revenues now coming from non-U.S. companies in 17 countries.
Also in August, Mindflash launched a partnership with Yammer, the leading social enterprise network, enabling their 200,000 customers worldwide to provide employee training seamlessly within their Yammer networks via the deeply integrated Mindflash app. Mindflash will participate at the second annual Yammer on Tour in London on Feb. 26 and in Amsterdam on Feb. 28.
Mindflash’s growth and expansion in 2012 come at a time when global spending on Learning Management Systems is poised for rapid growth. According to a recent study by Bersin & Associates, global spending on Learning Management Systems is projected to grow by more than 10 percent to over $1.8 billion in 2013, while a study by Deloitte found spending on learning and development rose by 12 percent in 2012.
Mindflash provides the leading online platform for employee and customer training. Its cloud-based, simple yet powerful design allows businesses to more easily create and manage critical company training programs—saving them significant time and money. No engineering or IT support is required, as there is no software to install or maintain. Courses are available securely anytime, anywhere that employees have Internet access. Courses are created using the file types that businesses already use (PowerPoint, PDF, Word, video, audio). Trainers simply upload and organize files using an intuitive course dashboard, add quizzes and then publish to the web to create self-paced new hire training, sales training, customer certification courses, etc. As needed, the software scales to support thousands of simultaneous training sessions. Mindflash customers include Hilton Hotels, LoanDepot, Johnson Health Tech, Ericsson, Airbnb, Yammer, Shutterfly and Dyson.
Founded in 1999, Mindflash is a privately held company and headquartered in Palo Alto, Calif. To learn more, please visit www.mindflash.com.