Thinkific has closed a $22 million growth financing round led by Vancouver’s own Rhino Ventures and announced plans to triple its workforce, hiring an additional 350 team members over the next 18 months.
This significant hiring update follows yesterday’s news that Thinkific has committed to Pay Up for Progress, a new initiative started by Unbounce to urge business leaders to prioritize gender pay parity within their organizations.
Since March, Thinkific has seen a 200% increase in online courses being created on its platform. Online training is skyrocketing across every industry – from solo-preneurs teaching guitar fundamentals, business coaching, and fitness training.
Today, over 50,000 entrepreneurs and businesses from virtually every industry use Thinkific to create and sell their own online courses. Together, they’ve educated more than 25 million people from 190 countries.
The financing comes at a time when the online course market—forecasted in 2019 to be worth $350 billion by 2025—has rapidly accelerated due to the Covid-19 pandemic.
“Thinkific is changing the face of digital commerce by empowering every entrepreneur and business to earn revenue and make a meaningful impact teaching what they know,” said Greg Smith, co-founder & CEO of Thinkific.
“Despite the challenges of Covid-19, we’re seeing entrepreneurs use Thinkific to not only survive, but truly thrive,” said Smith. “Even before the pandemic hit, we were witnessing significant growth, but we’ve now seen the course creation industry change forever. A massive number of entrepreneurs are rapidly moving their offline businesses online to deliver exceptional teaching experiences to a new global audience. We’re also seeing a significant increase in the number of well-established businesses building out online training as a new revenue driver.”