- Annual Recurring Revenue grew by 130% (YOY)
- We welcomed 426 new customers to our community – a 54% increase from 2019
- We rounded 350,000 new users
- We closed deals in 54 countries
- Our partner environment remains strong with 53 partners in 38 countries worldwide
- We shared our knowledge through webinars with over 3,500 participants
- Whilst we could, we met +23,500 visitors at physical events – we can’t wait to do so again
- Our communities on Social Media grew by over 900 people
- Interest in our website grew by 127%
ELEARNINGFORCE, the company behind the Microsoft Preferred Solution: LMS365, reveals strong and continuous growth for 2020. With an ARR (Annual Recurring Revenue) growth of 130% year-over-year, 2020 has become yet another record-setting year. This continued growth, accelerated by the new needs of a remote and flexible workplace, meant that LMS365 welcomed over 400 new customers across more than 50 countries.
Lars Vestergaard, CEO, explains: “There has been a huge mindset change. Everybody’s been forced to work from home and for us, it has been a boost. It was no longer a decision about whether you thought it was a good idea to work from home and whether you wanted to support online learning. The interest for our product and our offering grew exponentially not just due to the pandemic but also because of the rise of Microsoft Teams which we are so closely knitted into.”
With this exponential change, over 350.000 new users have been onboarded to LMS365, enabling flexible and continuous learning promoting the modern digital workplace.
“This testifies to our product and our value-added proposition, not just for a couple of hundred customers but for thousands. More importantly, we channel so much of our revenue back into R&D. It allows us to really accelerate our R&D efforts and to make the product the best it can possibly be and really speed up on delivery. We can speed up on developing new features and we can start building on aspects that our customers do not know they need. It gives us freedom as we’re not only focusing on and looking at profit. We’re looking to innovate.” says Lars Vestergaard
Although 2020 limited the opportunity of meeting customers face to face, knowledge and inspiration was shared in new ways, showcasing the possibilities of staying in touch remotely. With events and webinars each month, the spirit of LMS365 was spread out to over 3.500 curious participants, addressing subjects such as leveraging on the integration with Microsoft Teams and boosting productivity throughout an organization through learning. This not only strengthened the social community but enabled exciting conversations with organizations looking for a customizable and Microsoft 365 integrated learning solution.
Additionally, the social community grew by over 900 new faces, leading to many amazing opportunities for sharing and gaining knowledge about learning and the modern digital workplace. Likewise, a 127% growth YoY in visitors on the LMS365 website underlined the interest in articles, infographics and case stories illustrating the ambitions behind the product. Commenting on future ambitions, Lars Vestergaard says:
“We look forward to welcoming and keeping the hundreds of new customers we welcomed here during 2020. We need to keep them happy, and we need to make sure that they get the best possible experience with the LMS365. That’s why we’ve dedicated a very, very large team with the sole purpose of delivering excellent customer experiences once you’re on board the platform, and that’s really going to be key for us here in 2021.”
To support the exciting growth ELEARNINGFORCE and LMS365 has experienced, the internal organization has also been expanded on. With a new organizational structure to give customers the best service possible and match the needs of the future.
Lars Vestergaard is excited about this continued expansion: “We will probably have doubled our number of full-time employees by the end of 2021. We’re expanding into new geographies with their own feet on the ground from an organizational point of view. In the beginning of the year, we made a radical organizational change to make sure that every single member of our team has a dedicated mission to follow and that this pulls us all in the same direction.”
The growth that ELEARNINGFORCE has experienced underlines the dawn of the hybrid workplace. The LMS365 team is ready to run next to all customers on their journeys towards their ideal solution. Lars Vestergaard adds a final piece of advice: