A strategic shift helped the eLearning vendor grow its business with Fortune 1000 companies
Palo Alto, California – March 6th, 2014 – Mindflash was used by over one thousand businesses in 2013 to deliver 1 million online training courses – a 3x improvement over 2012 – and the company is on pace to deliver 2 million courses in 2014. The strong growth reflects an evolution in Mindflash’s sales and product strategies and growth in the worldwide corporate training and learning management systems markets.
A leader in online business training software, Mindflash tripled average revenue per new customer in 2013, in part due to a decision to concentrate more on selling to Fortune 1000 companies. Though Mindflash continues serving mid-market companies and grew this aspect of its business last year, the company’s management choices since 2012 have been made with an eye toward adding more enterprise-class features to its platform. The shift paid dividends immediately: In 2013, Mindflash was used by global brands like Hilton, Intuit, Johnson & Johnson, McDonalds, Philips and Siemens to train hundreds of thousands of workers.
Meanwhile, US spending on corporate training grew 15% last year (the highest growth rate in seven years) to over $70 billion and over $130 billion worldwide, according to Bersin by Deloitte. And the market for learning management systems is over $2 billion and continues to be one of the fastest segments of HR software.
“Macroeconomic trends continued to drive up corporate training activity in 2013,” said Donna Wells, CEO at Mindflash. “We’re seeing companies increase training for New Economy positions, and companies are ramping-up training to meet growing regulatory and compliance requirements. This training is increasingly delivered online to meet the needs of a highly distributed and mobile workforce. Cloud-based software like Mindflash provides a secure and scalable online platform for training, without the expense of building and maintaining proprietary learning management systems.”
Product Development Drives Growth
Mindflash significantly enhanced its award-winning eLearning software last year and at the beginning part of this year, introducing powerful features specifically designed to meet the training needs of Fortune 1000 companies. Some of the innovative features Mindflash launched included:
- Advanced cloud-based analytics, making it possible for corporate trainers to rapidly and accurately measure course effectiveness and business impact, often for the first time.
- Revolutionary “FocusAssist” software, developed in partnership with computer-vision start-up Sension, that pauses an online training session when a trainee is distracted while taking a course.
- Integration with single-sign-on provider Okta, to enhance online training security and speed the deployment of large-scale training programs.
- Mobile training, including the ability to deliver training on all major devices and platforms
- Turnkey support for customer and partner training, including white-label training capabilities, custom certificates, and the ability for Mindflash users to sell courses.
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 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 has over 1,000 customers including McDonalds, Microsoft, Lufthansa and Four Seasons Hotels and Resorts. Founded in 1999, Mindflash is a privately held company headquartered in Palo Alto, California. To learn more, please visit www.mindflash.com.