Human Resources: GeoLearning Secures $31 Million Investment from Fidelity Ventures

WEST DES MOINES, IOWA, February 25, 2008 -- GeoLearning, Inc., the leading provider of Managed Learning Services and on-demand learning and performance platforms, today announced that it has secured a growth equity investment of $31 million from Fidelity Ventures. The funds, which represent the first institutional investment for GeoLearning, will be utilized to accelerate the company's sales and marketing efforts, continue to build its international presence and channel partner network, and potential acquisitions.

GeoLearning also announced that Fidelity Ventures partner, Roger Hurwitz, has joined its Board of Directors.

"GeoLearning pioneered the on-demand delivery of learning and performance management platforms over a decade ago, and they are well-positioned to strengthen their market leadership as talent shortages across all industries make improving training and development programs critical for employers," said Hurwitz, who currently serves on the board of eCredit. "As an investment, GeoLearning also appealed to our interest in companies that have successfully implemented a Software as a Service (SaaS) business model. We believe SaaS offerings have significant strategic, operational and financial advantages for both business owners and their customers, and it has proven to be a key differentiator for GeoLearning, enabling it to capture market share, scale profitability and focus on customer satisfaction."

GeoLearning's products and services are used by more than 500 corporations, government agencies and non-profit organizations to manage and deliver a broad range of learning and development services. Its award-winning, Web-based GeoMaestro and GeoExpress platforms have helped employers, including many enterprise and mid-market companies like Dell, Palm and Adecco, to manage all forms of organizational learning—from traditional classroom instruction, online training and self-directed study—and drive demonstrable business value.
In addition, GeoLearning has established one of the broadest partnership networks in the industry, with over 50 complementary, best-of-breed vendors, providing customers with a reliable, end-to-end learning and performance management solution.

"In Fidelity Ventures, we found the ideal financial partner to help us maximize our long-term growth strategy and build value for our customers," said GeoLearning President and CEO Frank Russell. "Their industry expertise and access to global resources will be a tremendous asset as we seek to expand our business and serve more customers in the nearly $2.4 billion learning¹."

About GeoLearning, Inc.

GeoLearning is the leading provider of Managed Learning Services and on-demand learning and performance technology. The company's products and services are used by corporations, government agencies and non-profit organizations to manage human capital development, accelerate critical business processes and drive organizational performance. GeoLearning's Software as a Service model means there is no hardware or software for clients to install.
As a result, the company's Web-based GeoMaestro and GeoExpress learning management platforms can be deployed quickly, allowing clients to efficiently manage enterprise-wide learning, development and knowledge acquisition. Additional information is available at www.geolearning.com.

About Fidelity Ventures

Fidelity Ventures invests in companies ready to enter the market and those poised for the next phase of growth. Its 40-year track record includes hundreds of successful investments in the consumer, communications, systems and software markets. Fidelity Ventures is distinguished by the ability to accelerate market adoption for its portfolio companies' offerings, and by a global network of senior technology and business executives. Fidelity Ventures actively manages over $800 million from offices in Boston and London. For more information, please visit www.fidelityventures.com.

¹ Bersin & Associates, June 2007.

The HR industry´s premier online community and resource for Human Resource professionals: HR, human resources, HR community, human resources community, HR best practices, best practices in human resources, online communities for HR, HR articles, HR news, human resources articles, human resources news, HR events, leadership, performance management, staffing and recruitment, benefits, compensation, staffing, recruitment, workforce acquisition, human capital management, HR management, human resources management, HR metrics and measurement, organizational development, executive coaching, HR law, employment law, labor relations, hiring employees, HR outsourcing, human resources outsourcing, training and development
hr.com. human resources management resources for hr professionals. | HR menus | HR events | HR Sitemap