Published: Jan 11, 2022
Focus:
NPIF Maven Equity Finance
AppLearn International, a digital adoption platform (DAP) that enables businesses to fully utilise the enterprise software products they deploy across their business, has secured significant financing from Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and investors, and NPIF Maven Equity Finance. The funding will enable the business to expand into new territories and scale its team, creating 46 new jobs across the North West region as it embarks on an ambitious programme of growth.
The AppLearn platform is a technology solution that enhances productivity by providing frictionless communications, resources, and step-by-step guidance inside and outside of business-critical applications. A DAP is a software layer integrated on top of another software application or website to guide users through tasks and functions. DAPs aim to help new users quickly learn how to interact with a website, application or assist returning users in learning newly added functionality. This improves onboarding for new users and drives the adoption of new features.
Enterprises are increasingly adopting digital solutions to improve their operations and business models to provide better customer service and employee experience. However the adoption and utilisation has historically been limited and subsequently enterprises have not seen the benefits and ROI. AppLearn is well placed to service this growing market looking for a solution to transform the way organisations adopt digital products and the way people learn to use software tools.
The business is led by a highly knowledgeable and skilled management team, CEO Andrew Avanessian is an experienced C-suite executive within the software industry and recognized for his contributions by several industry bodies. He regularly speaks at industry events and on news channels including the BBC, Sky, Fox and CNBC. He also holds an Honorsdegree in Computer Science, is a published author, a Forbes Tech Council member and has a BCS Fellowship along with industry qualifications from Microsoft, Apple and ITIL.
“Silicon Valley Bank and NPIF -Maven’s support comes at a pivotal time for our business. The strides we have made in the digital adoption market over the last three years has placed AppLearn on the cusp of transformative growth. This funding now enables us to put in place the foundations to fuel our ambitious international strategy and growth plans.
“The global appetite for digital adoption is rapidly advancing, in no small part due to the events of last year. With an increasing number of businesses accelerating their digital transformation journeys, global IT spending is expected to reach $4 trillion this year. AppLearn is in a prime position to bring our technology to this ever-expanding market, and we’re excited to be doing this with NPIF - Maven and Silicon Valley Bank’s backing.”
Andrew Avanessian, CEO of AppLearn
“AppLearn is addressing a genuine need in in the industry for digital transformation services. The business is well placed to take advantage of the current migration to a digital economy and leverage off the new challenges facing enterprises today. We’re delighted to back Andrew, Adam and the team who are experienced and technology focussed with an excellent reputation in the market.”
Dean Cox, Senior Investment Manager at Maven
“Silicon Valley Bank is delighted to extend its partnership with the outstanding team at AppLearn and their trusted investors. It is great to see further funding in Manchester's innovation ecosystem and we look forward to watching the team continue to grow, build, and scale.”
Ben Tickler, Director of Venture and Growth at Silicon Valley Bank UK Branch
“The Northern Powerhouse Investment Fund is committed to backing innovative growing businesses across the North to achieve their objectives. AppLearn’s story demonstrates the impact that investment can have on an organisation’s growth and we look forward to seeing the success that AppLearn achieves in Manchester, across the UK and globally.”
Grant Peggie at British Business Bank
If your business is in need of finance to help unlock its growth potential, NPIF Maven Equity Finance may be able to help. Contact Maven’s local team today on 0161 233 3500.
