April 7, 2021
GCA advises Attensi on its investment from Lugard Road Capital, DX Ventures and Viking Venture
GCA acted as financial advisor to Attensi, the leading Norwegian software provider of gamified corporate learning, who have raised USD 37m from New York-based Lugard Road Capital (an affiliate of Luxor Capital), DX Ventures and existing shareholder Viking Venture.
Established in 2012, Attensi has delivered gamified simulation training through its SaaS platform in more than 100 countries in 20 languages. Attensi’s solutions are used to simulate human interactions and work processes, including interpersonal ‘soft skills’, leadership training, use of IT systems and any form of staff certification. Whether on mobile, desktop or VR, Attensi’s gamified simulation approach enables organisations to upskill their people effectively, consistently and at scale, with all the data required to track impact on KPIs.
Attensi’s clients are corporate companies in healthcare, pharmaceutical, financial services, professional services, retail, hospitality, manufacturing, shipping, offshore and transport, as well as public and third sectors. The company’s total revenue annual run-rate is currently USD 12m, and it is headquartered in Oslo, Norway, with offices in London, UK, and Palo Alto, USA.
The investment follows several years of rapid growth for the company, during which Attensi recorded a 63% CAGR in annual recurring revenue and executed projects for a wide range of international blue-chip customers. The new funding will be used by Attensi to extend its presence in North America and Europe and to expand upon its leading product suite and technology platform in gamified simulations.
Anne-Lise Waal, CTO and Co-CEO at Attensi, said: “This is exciting news for everyone at Attensi. With the Attensi Technology Platform users across the globe can create high-end gamified solutions with our powerful no-code toolset. This investment will be instrumental in further expanding our cloud native SaaS platform and product suite. The Attensi Technology Platform will equip companies across all sectors to deliver on the challenge of continuous development and upskilling of their workforce. Our current plans for organizational expansion will see our staff count grow rapidly from the current level of 120 to well over 200.”
Trond Aas, Attensi Co-Founder and Co-CEO, added: “GCA Altium was a great partner for Attensi throughout the process. From the kickoff to the closing of the transaction, not only did they support us in delivering high quality marketing material and crafting an attractive equity story, but they also consistently went the extra mile to secure the best possible outcomes for our shareholders. Their fully professional and independent advice allowed us to secure a transaction which will be a cornerstone for Attensi’s future development. We look forward to continuing our work with GCA Altium and exploring new strategic opportunities in the next phase of the growth journey of Attensi.”
This transaction represents the 7th transaction globally for GCA in the EdTech space over the past 12 months.