M12 leads Series B for Australian training platform
M12, the VC arm of Microsoft, has led an approximately $21 million Series B round for GO1, an Australian workforce services technology start-up focused on corporate training.
Additional investors include Larsen Ventures, Seek International, and Y Combinator. It marks M12’s first investment in Asia Pacific. The plan is to further GO1’s ongoing global expansion efforts with a focus on the US and UK, as well as South Africa.
GO1 offers learning software that allows employees to complete formal training online, while providing employers with tools to create assessment structures and generate custom certificates. The platform currently offers more than 500,000 courses.
The company raised a $7.3 million Series A round last year from Our Innovation Fund and Seek International. In 2016, it raised $3 million from Y Combinator, Blue Sky Ventures, Tank Stream Ventures, Black Sheep Capital, Amasia, Full Circle Ventures, and the Queensland government's Business Development Fund.
Workforce management has proven an attractive investment theme in Australia, with recent activity including an $81 million Series B for Deputy and the acquisition of Acendre Partners by Strattam Capital. Earlier this year, payroll and rostering services company Humanforce raised $16 million.
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