附近上门

Performance improvement company has acquired San Francisco-based management training platform for about $20 million, the companies told 附近上门 News.

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Salt Lake City-based FranklinCovey helps organizations address issues that require behavioral changes. The company鈥檚 content and training is geared toward helping employees improve in areas including leadership development and individual effectiveness.

About five years ago, it rolled out a subscription business, All Access Pass, which gives clients access to all of FranklinCovey鈥檚 content solutions and learning modalities. That business has grown to $100 million in revenue since it began, and Strive鈥檚 capabilities will be integrated into All Access Pass, according to the companies.

鈥淪trive at their core, what stood out to us was we believe we have best-in-class content that helps organizations solve these large people-related challenges that they have,鈥� FranklinCovey President and Chief Operating Officer said in an interview. 鈥淪trive is on the other side of it, they have best-in-class technology that measurably improves peoples鈥� ability to change and maintain that change in behavior.鈥�

Strive鈥檚 17 employees will join FranklinCovey, with CEO becoming the company鈥檚 vice president of product and platform.聽

鈥淲hat we鈥檙e hoping for post-integration is to take this approach to behavior change at scale and take their world-class content and services and combine it with our learning approach and power their behavior change for customers,鈥� Houghteling said.聽

FranklinCovey acquired online training platform in 2017, and one of Jhana鈥檚 investors that overlapped with Strive introduced FranklinCovey to the company. Houghteling said he was impressed with FranklinCovey鈥檚 scale, along with its content and services.聽

Strive wasn鈥檛 looking for an acquisition when it was introduced to FranklinCovey, Houghteling said. The startup was actually in the process of raising its Series A round and had secured multiple term sheets, but ultimately decided the acquisition would help it achieve its goals faster.

Strive had raised at least $3.8 million in funding from investors including and , per 附近上门 data.

For FranklinCovey customers, the Strive acquisition will be a 鈥渂ig enhancement for them in terms of ease of accessibility,鈥� Walker said, while Strive customers will have access to FranklinCovey鈥檚 content.聽

鈥淪trive will help us implement this great content we have and increase scale, but in a more measurable, social learning, engaging way,鈥� Walker said.

Illustration:

Photo courtesy of Strive.