Through partnerships with Credly, employers, educators, and associations tap digital credentials to attract, engage, and retain talent...
Credly has recently announced $11.1 million in new funding, with investors ZOMA Capital and the nonprofit Strada Education Network joining existing investors New Markets Venture Partners, University Ventures, Pearson, Lumina Foundation, and Lion Brothers Company in the round. This investment, which brings the total funding raised by Credly to $18.2 million, reflects acceleration in the use of digital credentials by major employers grappling with the challenge of attracting, developing, and retaining talent in a tight labor market. It also indicates a growing use of digital credentials by colleges and universities to help students translate educational experiences and accomplishments for the world of work.
“Digital credentials can create a common language to bridge skill and equity gaps between job seekers and employers, educational institutions and the labor market,” said analyst Josh Bersin. “A growing number of employees are using digital credentials to provide portable, transparent, and verified evidence
Since Credly’s launch in 2012, the company has helped leading organizations recognize and verify the learning and skills today’s labor market values. Credly has seen an influx of employers incorporating digital credentials into mission-critical talent management strategies.
The announcement coincides with the one-year anniversary of Credly’s acquisition of the digital credential business Acclaim from Pearson, which also participated in this most recent round. The combination created the world’s largest network of professional credentials, and a thriving platform for pathways from learning to employment to career advancement.
“Credly is working with some of the world’s most recognizable and trusted organizations to build a skills-based currency for the future of work,” said Jonathan Finkelstein, CEO of Credly. “The combined support of social impact, strategic, and growth capital partners will accelerate Credly’s progress toward connecting people to opportunity based on their verified capabilities and helping organizations make better, more strategic, data-informed human capital decisions.”