• Tue. Oct 19th, 2021

GrowthSpace Employee Development Platform Raises $ 15 Million Series A Led by M12

ByWarren E. Owens

Sep 22, 2021
Israeli startup GrowthSpace, which has developed a platform for employee development programs, said on Wednesday it had secured a $ 15 million Series A investment round. The funding was co-led by M12, Microsoft’s venture capital fund, and Vertex Ventures. This latest round of funding, which also included former investor M-Fund Club, brings the total amount raised by GrowthSpace to $ 19 million.

GrowthSpace has developed technology that provides a personalized development program for employees. The system connects employees and experts after understanding their business goals and professional challenges. The company said it has more than 1,000 coaches, mentors and professionals speaking a variety of languages ​​and with expertise in 300 different skills. The business model of the company is based on an annual subscription which includes a certain number of credits, each credit being equal to a personalized development program for an employee which includes 5 to 7 meetings with an expert. The cost per credit decreases as the subscription program grows.

Co-founders of GrowthSpace. Photo: Doron Letzer

GrowthSpace currently has nearly 100 clients and has experienced significant growth following the move to remote working. Customers include Intel, Applied Materials, Check Point, Johnson & Johnson, Nespresso, Gainsight and Taboola.

The company employs 30 people in Israel, the United States and Canada, but they are not based in any local office and work remotely.

GrowthSpace was founded in 2019 by Omer Glass, CEO, Dan Terner, COO, and Izhak Kedar, CTO.


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