California Company Acquires Lessonly
Indianapolis-based online training software company Lessonly has been acquired. California-based Seismic, which has developed a sales enablement platform, has announced the acquisition Lessonly and a $170M Series G funding round. Seismic says the deal creates a company valued at approximately $3 billion.
Financial terms of the acquisition were not disclosed.
Seismic’s platform is designed to improve the performance of sales teams. The company says the acquisition of Lessonly will create a “seamless seller experience.” Doug Winter, co-founder and chief executive officer of Seismic, says the deal is the culmination of a strategic partnership with Lessonly.
“We have forged strong ties across our teams, complementary capabilities, and joint customers,” Winter said in a news release. “Together, we are a stronger and smarter sales enablement platform — the only one that gives sales leaders the confidence they’ll hit their numbers, and ensures all sellers are able to engage with customers in the most effective way possible throughout their buyers’ journeys.”
Lessonly provides online training software it says has served more than 4 million learners since its founding in 2012 and touts companies such as McAfee (Nasdaq: MCFE), Scholastic (Nasdaq: SCHL), and SalesLoft among its customers. In April of last year, the company closed on a $15 million Series C round of funding.
The companies did not specify if any jobs will be affected by the acquisition. However, Lessonly CEO Max Yoder said the companies’ “respective teams and customers are going to see big gains as a result of this deal.”
We’ll have more on the acquisition in this afternoon’s INside Edge e-newsletter.