Grovo

Grovo was established in 2010 by Jeff Fernandez, Nick Narodny, and Surag Mungekar. The company initially operated as a consumer-focused company providing video training for digital skills.{{Cite web|url=https://techcrunch.com/2015/02/18/grovo-series-b/|title=Grovo Raises $15M More To Help Businesses Train Their Employees With Bite-Sized Videos|last=Ha|first=Anthony|website=TechCrunch|date=18 February 2015 |access-date=November 8, 2016}}{{Cite web|url=https://venturebeat.com/2010/10/20/online-training-site-grovo-launches-to-help-you-demystify-the-web/|title=Online training site Grovo launches to help you demystify the Web|website=VentureBeat|date=21 October 2010 |access-date=November 8, 2016}} In early 2013, Grovo transitioned to a B2B SaaS model, concentrating on the development of a microlearning platform.

In May 2017, Axios reported that Grovo encountered financial difficulties, which contributed to the departure of its founders.{{Cite news |date=2017-05-01 |title=Just 15 Months After Raising $40M, Grovo's CEO and Co-Founders Are Out - EdSurge News |url=https://www.edsurge.com/news/2017-05-01-just-15-months-after-raising-40m-grovo-s-ceo-and-co-founders-are-out |access-date=2017-10-09 |work=EdSurge |language=en-US}}{{Cite news |date=2017-04-25 |title=Exclusive: Grovo CEO and co-founders are out |url=https://www.axios.com/exclusive-grovo-ceo-and-co-founders-are-out-2378406797.html |access-date=2017-10-09 |work=Axios |language=en}}

In November 2018, Grovo was acquired by management solutions provider Cornerstone OnDemand, for $24 million.{{Cite web|url=https://labusinessjournal.com/finance/cornerstone-buys-grovo-learning-24m/|title=Cornerstone Buys Grovo Learning for $24M|first=Pat|last=Maio|date=November 8, 2018}}

Grovo operates on a SaaS (Software-as-a-Service) learning platform. Grovo refers to its approach as microlearning, delivering 144-second video and audio lessons interspersed with short quizzes and practice assignments. In November 2017, Grovo announced that it had submitted a trademark application for the term microlearning with the U.S. Patent and Trademark Office.{{cite web |last1=Jacobs |first1=Susan |title=Grovo Secures Microlearning Trademark |url=https://www.learningsolutionsmag.com/articles/2526/grovo-secures-microlearning-trademark |archive-url=https://web.archive.org/web/20171201041114/https://www.learningsolutionsmag.com/articles/2526/grovo-secures-microlearning-trademark |archive-date=2017-12-01 |accessdate=27 November 2017 |website=Learning Solutions Mag |publisher=Learning Solutions Magazine}} Grovo's microlearning library includes topics such as digital skills, soft skills, management training, and human resource/compliance training. Trainers and managers have access to a dashboard with learning management system tools, training analytics, and a client service team that aligns learning strategy with business goals.{{cite web|last=Fenton|first=William|title=Grovo LMS|website=PC Magazine|date=June 30, 2015|url=https://www.pcmag.com/article2/0,2817,2486969,00.asp|access-date=February 28, 2017}}

In May 2011, Grovo secured seed funding from Krishna "Kittu" Kolluri, general partner at New Enterprise Associates, Andy Dunn, CEO and Founder of Bonobos, Mareza Larizadeh of Larizadeh Capital Partners and a few others.{{Cite web|url=https://techcrunch.com/2011/05/03/grovo-video-training-platform-grabs-funding-to-help-startups-educate-their-users/|title=Grovo: Video Training Platform Grabs Funding To Help Startups Educate Their Users|last=Empson|first=Rip|website=TechCrunch|date=3 May 2011 |access-date=November 8, 2016}}

On July 17, 2013, Grovo announced a $5.5 million Series A round of venture capital funding.{{Cite news|url=https://www.edsurge.com/news/2013-07-18-grovo-raises-5-5m-series-a-toteach-internet-skills|title=Grovo Raises $5.5M Series A to Teach Techie Skills (EdSurge News)|work=EdSurge|access-date=November 8, 2016}}{{Cite news|url=http://allthingsd.com/20130717/grovo-a-how-to-video-company-for-gadgets-and-apps-raises-5-5-million-in-funding/|title=Grovo, a "How-To" Video Company for Web Services and Apps, Raises $5.5 Million in Funding|last=Goode|first=Lauren|date=July 17, 2013|work=AllThingsD|language=en-us|access-date=November 8, 2016}} Greg Waldorf, CEO-in-residence at Accel Partners, who was also a founding investor and former CEO of eHarmony, led the financing, which also included Jeff Clavier of SoftTech VC, Greg Sands of Costanoa Venture Capital, and Andy Dunn of Red Swan Ventures. Greg Waldorf joined Grovo's board of directors.{{Cite web|url=http://www.newsmaker.com.au/news/26677/grovo-lands-55m-series-a-to-accelerate-realtime-internet-training#.WCJQoNwnYfI|title=Grovo Lands $5.5M Series A to Accelerate RealTime Internet Training|publisher=newsmaker.com.au|access-date=November 8, 2016}}

On February 18, 2015, Grovo announced a $15 million Series B round from existing investors Accel Partners, Costanoa Venture Capital, Greg Waldorf, and SoftTech VC. The series B funding round closed on August 8, 2014. Accel's Sameer Gandhi and Kirk Bowman joined Grovo's Board of Directors.

In January 2016, Grovo secured $40 million in a Series C funding round led by Accel Partners. Additional contributions came from existing investors Costanoa Venture Capital, SoftTech VC, and Greg Waldorf, along with new investor Vayner Capital. This brings Grovo's total funding to $65 million.{{Cite web|url=https://techcrunch.com/2016/01/26/grovo-series-c/|title=Grovo Raises $40M To Deliver Employee Training With Quick, Digestible Content|last=Ha|first=Anthony|website=TechCrunch|date=26 January 2016 |access-date=November 8, 2016}}{{Cite web |date=2013-07-18 |title=Grovo Raises $5.5M Series A to Teach Techie Skills - EdSurge News |url=https://www.edsurge.com/news/2013-07-18-grovo-raises-5-5m-series-a-toteach-internet-skills |access-date=2024-09-17 |website=EdSurge |language=en}}

In November 2018, Grovo was acquired by management solutions provider Cornerstone OnDemand for $24 million.

CNNMoney named Grovo one of the "30 Most Disruptive Upstarts".{{Cite web|url=https://money.cnn.com/gallery/technology/2015/06/24/upstart30-idealists/8.html|title=The Idealists|publisher=CNN|date=June 29, 2015|access-date=November 8, 2016}} Entrepreneur named the company one of the "Best Entrepreneurial Companies in America"{{Cite news|url=https://www.entrepreneur.com/article/251286|title=The Success Secrets That Helped the 'Best Practices' Land on the Entrepreneur360|date=October 7, 2015|newspaper=Entrepreneur|access-date=November 8, 2016}} and one of the "Best Company Cultures in 2015".{{cite news|access-date=November 8, 2016 |date=November 4, 2015 |newspaper=Entrepreneur |title=The 25 Best Large-Company Cultures in 2015 |url=https://www.entrepreneur.com/article/252327}} The company was named "New York Startup of the Year" by Tech.Co,{{cite news|url=http://tech.co/tech-co-startup-of-the-year-competition-semifinalists-2015-09|title=Tech.Co Startup of the Year: Online Semifinalists|date=September 1, 2015|access-date=November 8, 2016}} and listed on the Crain's New York Business Top 100 Best Places to Work 2015.{{Cite news|url=http://www.crainsnewyork.com/article/20150918/PROFESSIONAL_SERVICES/309189999/crains-names-2015-best-places-to-work|title=Crain's names 2015 Best Places to Work|publisher=CrainsNewYork.com|newspaper=Crain's New York Business|access-date=November 8, 2016}} PC Magazine named Grovo one of the top learning management systems of 2015.

• Competency management system
• Educational technology
• Microcontent
• Microlearning

{{reflist|30em}}

• {{cite web|last=Martinez|first=Juan|title=Docebo Versus Grovo: Battle of the Online Learning Platforms|publisher=Fox Business Network|date=December 27, 2016|url=http://www.foxbusiness.com/features/2016/12/27/docebo-versus-grovo-battle-online-learning-platforms.html|access-date=February 28, 2017}}
• {{cite web|last=Kokalitcheva|first=Kia|title=Grovo's Bite-Sized Learning Videos Attract $40 Million From VCs|work=Fortune|date=January 26, 2016|url=http://fortune.com/2016/01/26/grovo-40-million/|access-date=February 28, 2017}}

• {{Official website|https://www.cornerstoneondemand.com/solutions/content/grovo/}}

Category:Educational technology

Category:2010 establishments in New York City

Category:American companies established in 2010