Growth equity firm PSG has completed a majority investment into Traliant, an online workplace compliance training provider based in Manhattan Beach, California.
Traliant delivers bite-sized compliance training on an e-learning platform on numerous workplace topics including diversity and sexual harassment. The company has rapidly grown since its founding in 2016 and currently caters to 5,000 organisations globally, including small and mid-sized businesses, as well as large enterprises such as Hilton Worldwide Holdings, Stanford Health Care and PepsiCo.
Traliant was founded by chief executive Mike Pallatta and chief learning officer Andrew Rawson and is financially backed by Martinson Ventures. Prior to founding Traliant, Pallatta was the chief executive of WeComply, a provider of ethics and compliance learning that was acquired by Thomson Reuters, and Rawson was the global head of compliance learning at Thomson Reuters.
Pallatta said: “Organisations around the world are looking for ways to be more diverse, inclusive and culturally aware, and the heightened regulatory focus on workplace behaviour is driving significant demand for Traliant’s training across industries and geographies. With the partnership of PSG, we’re excited for the growth that lies ahead as we continue to focus on customer satisfaction while growing our installed base.”
Rawson added: “We’re encouraged by the increasing global appetite for resources to foster more diverse, equitable and inclusive workplaces. Our team is committed to continued collaboration with our customers to deliver solutions tailored to the evolving needs of their organisations and industries.”
PSG’s managing director Tom Reardon and principal Chris Andrews have joined Traliant’s board.
Reardon said: “Traliant has grown exponentially, driven by the quality and scalability of its content production process and its top-notch founding team of industry veterans who have transformed the compliance training experience. There are extensive untapped opportunities to address in the global market for online workplace compliance training tools and we’re thrilled to support Traliant’s continued growth.”
Financial terms of the deal were undisclosed.
Weil, Gotshal & Manges was legal advisor to PSG. Morgan, Lewis & Bockius was legal advisor and Vista Point Advisors, a San Francisco-based boutique investment bank, was exclusive financial advisor to Traliant.
Date published: 29 January 2021