Crehana, an ed tech reskilling and upskilling platform for companies and individuals in Latin America, has raised $70 million in a Series B round led by General Atlantic.
This round comes just months after Lima, Crehana raised a $13 million Series A extension round.
Founded by chief executive Diego Olcese and chief operating officer Rodolfo Dañino in 2015, Crehana offers a single point of contact for enterprises to access tools that assist employees’ learning and development, including assessing skill gaps in an existing employee base, learning path recommendations, and progress tracking. Crehana works with more than 400 specialists to offer over 700 courses that teach 100,000-plus techniques and competencies.
Crehana stated it will use the funding to expand its enterprise solution, launch operations in Brazil, and invest in new products and technologies.
Olcese said: “Our mission is to make career development universal and empower Latin American companies to effectively build their teams in the fast-paced world in which we’re living. Over the past 18 months, we’ve experienced record high growth, and we see the market only accelerating. Today, more than 50% of our revenues come from Crehana for Business. With this new capital, we aim to double down on deepening our skills and learning ecosystem for the enterprise. Our goal is to provide talent managers with automated machine learning and AI-driven tools that can enable effective understanding of the gaps on their teams and deliver the necessary value-added support to address them.”
Luis Cervantes, managing director and head of the Mexico City office at General Atlantic, added: “Crehana fits well in our investment theme of disruption of the traditional educational industry. We’re seeing more individuals trading traditional education for job market-oriented, shorter-duration degrees, and simultaneously, corporations more urgently seeking to upskill and reskill their work forces. We believe digital education will increase access to life-changing opportunities for lower income populations across Latin America, and are proud to partner with Crehana to expand access to its innovative platform.”
As part of the transaction, Cervantes and Zeev Thepris, vice-president at General Atlantic, will join Crehana’s board.
This round brings Crehana’s total capital raised to $95 million. Other investors include Mountain Nazca, Salesforce Ventures, Rethink Education, Alive Ventures, IFC, and Dila Capital.
Crehana marks General Atlantic’s sixth investment in Mexico since 2014, when it first entered the country. Since then, General Atlantic has invested nearly $1 billion in high-growth Mexican companies.
Date published: 6 August 2021