Docebo has raised $3 million in growth equity from Toronto’s Klass Capital to accelerate the growth of its SaaS enterprise e-Llearning platform.
This is the Italy-born company’s second venture backed financing round, first funded by Italian venture capital firm Principia SGR.
Docebo—Latin for “I will teach”—chose a Canadian venture capital firm because it plans to use the funds to invest in its North American expansion.
“We discovered Docebo while studying the corporate learning management system space, which is a $3 billion market opportunity,” said Daniel Klass, president of Klass Capital.
“Given the rapid growth of Docebo’s business in the UK and North America in the past two years, we find this partnership highly strategic and aligned with our long-term goals and objectives for the global market,” Alessio Artuffo, COO for Docebo North America, said.
Over the past year Daniel and Claudio built a strong relationship, communicating over phone and Skype. Daniel met Claudio last fall for the first time when travelling to Italy with his family.
“During our initial meeting in Italy I was very impressed with Claudio and his partners, and I bought into his vision for scaling the business internationally,” recalls Daniel.