The New Litmos is Here
There comes a time when everyone must spread their wings and leave the nest. If you’ve been reading this blog, you know that time is now for Litmos. In August, SAP announced that it had reached an agreement to sell the Litmos business to Francisco Partners. As of December 1, 2022, we became an independent company.
It’s an exciting time. We’re leaving our parents’ house, and heading out into the world. Sure, we’ll miss some of the perks (who doesn’t love doing their laundry at Mom’s house?) but we’re looking forward to having our own place, and launching into the future. In fact, right now the future looks particularly bright for eLearning.
eLearning is the future of L&D
The corporate eLearning market has experienced a boom lately. This is partly thanks to the pandemic, which pushed Learning & Development (L&D) leaders who’d been lagging behind when it came to adopting digital technology.
Until fairly recently, live, in-person training represented a big piece of many organization’s training strategies. Brandon Hall Group found that pre-pandemic, about 96% of organizations used live instructor-led training to deliver at least some of their workplace training. That came to a halt in 2020 when lockdown sent workers home, and L&D had to go remote.
While some in-person training has returned, eLearning is now here to stay as part of the new normal. Consider the companies who have become comfortable with remote workforces and have hired remotely; they will be using distance learning to reach all of their employees. At other organizations, eLearning has been incorporated into blended L&D programs. In fact, according to research from the Ken Blanchard Companies, just 17% of companies are considering returning to a fully in-person training model.
Market growth confirms these trends. The corporate eLearning market was valued at $100 billion in 2021 and is growing fast. According to Technavio’s market research, the corporate eLearning industry is expected to increase by $7.80 billion between 2020 to 2025 at a CAGR of 13%.
Bottom line: a lot of organizations want eLearning as a major part of their L&D strategy, and we are excited to provide it.
What does all of this mean for Litmos?
Like any young, ambitious professional, Litmos is excited to move out of the house we grew up in and go out into the world where we can develop and deliver the best learning we possibly can.
Francisco Partners is well positioned to help us do that. As a private equity firm, they offer the best combination of capital investment for growth, strategic and operational advisors, and alignment with our strategic direction. They’ll provide us with solid and stable footing as we strike out on our own.
We’ll continue to provide you information on the future of Litmos, so stay tuned to this blog and our social channels. Here we come, world – energized, agile, and excited to lead the learning tech market with greater inspiration than ever.