Boston and San Francisco – September 5, 2019 – Thought Industries, a leading provider of customer training and learning software solutions, announced today that it has received a strategic growth investment from Luminate Capital Partners, a San Francisco-based private equity firm, to support continued growth and expand its market leadership.
Thought Industries’ SaaS platform allows its customers to train and deliver learning experiences to their end customers. The platform is purpose-built for the external-facing, customer learning and training use case with features such as white-labelling, robust e-commerce functionality, blended learning delivery, and multi-tenant licensing. Utilizing the Thought Industries’ platform, customers can market, monetize, and deliver their content online.
The Company’s product serves customers with for-profit training needs and customer training initiatives.
“Since 2013, we have helped organizations better serve their customers by providing a platform to easily create, deploy, and monetize more engaging and effective learning and training content. The Thought Industries platform allows our customers to drive revenue, strengthen product adoption, and boost renewal rates,” said Barry Kelly, Co-Founder and CEO of Thought Industries. “With Luminate Capital as our partner, we will continue to invest in our product capabilities and customer support operations to better serve organizations that rely on training to drive growth,” said Doug Murphy, Co-Founder and President.
“We are excited to partner with the Thought Industries team to support their continued growth and success as the leading external training software provider across a variety of sectors,” said Hollie Haynes, Founder and Managing Partner at Luminate. “Thought Industries delivers mission critical software solutions that allow organizations to better train and serve their customers, and we look forward to finding ways to provide further value,” added Sanjay Palakshappa, Partner at Luminate.
Chris Murphy, Operating Partner at Luminate and former Chief Revenue Officer at BlackLine Systems, added, “We are thrilled to work with Barry, Doug, and the rest of the Thought Industries’ team. The Company has the premier product in a highly underserved market. We are looking forward to continuously enhancing the product, finding ways to better serve our customers, and scaling the Company.”
In connection with the investment, Hollie Haynes, Chris Murphy, and Sanjay Palakshappa from Luminate will join the Thought Industries Board of Directors.
Financial terms of the transaction were not disclosed. AGC served as financial advisor to Thought Industries. Kirkland & Ellis, LLP served as legal advisors to Luminate Capital.
About Thought Industries
Thought Industries is a leading technology company that provides Customer Training and Learning software solutions across a variety of industries, including Training, Consulting, Continuing Education, Software, and Commercial Electronics and Devices. The Company enables their customers to manage their entire external training and learning initiatives and monetize their learning experiences through one centralized platform. Located in Boston, MA, Thought Industries serves customers primarily based in North America. Learn more at www.thoughtindustries.com/.
About Luminate Capital Partners
Luminate Capital Partners is a private equity firm focused on making investments in enterprise software companies. Luminate partners with management teams to provide capital to drive strategy, growth, and operational improvements. Luminate’s portfolio of market leaders has included AMT, AutoQuotes, Comply365, Conexiom, LiquidFrameworks, Oversight Systems, PDI, Fintech, and StarCompliance. For more information, visit www.luminatecapital.com.
