Series B investors include Cornerstone, HTC and Farmers Insurance
➨ Talespin company will use the funding for Runway, expanding research and development, and building its VR learning content library
➨ The partnership with Cornerstone will see Talespin’s VR learning content made available to customers through its new investor’s product offerings
XR training company Talespin is partnering with Cornerstone OnDemand after securing $15 million in series B funding.
Los Angeles-based Talespin, whose VR tool for soft skills training made headlines last year because it teaches hiring and firing through interactions with a virtual human called Barry, has so far raised $20 million from learning and talent management software developer Cornerstone, as well as HTC and existing investors, including Farmers Insurance Exchange.
Talespin company will invest the funding in its talent development platform, Runway, as well as research and development and building its VR learning content library.
The partnership with Cornerstone will see Talespin’s VR learning content made available to customers through its new investor’s product offerings.
Talespin’s Runway platform will also be integrated with Cornerstone’s learning management system to provide XR training deployment and skills matching analytics to businesses at scale.
Jason Gold, vice president of finance, corporate development and investor relations at Cornerstone, called Talespin’s technology “a perfect fit in our suite of products”, adding: “We look forward to working together to deliver great solutions for our customers.”
Cornerstone’s investment and partnership with Talespin matches that of Farmers Insurance, which was an early customer and investor in the XR training company.
“Farmers work with Talespin continues to deliver innovative technology to help empower our employees to provide a high level of customer service,” said Scott Lindquist, chief financial officer of Farmers Group, the attorney-in-fact of Farmers Insurance Exchange.
“Their immersive VR and AR platforms have helped us reshape the way we look at training Farmers Insurance claims adjusters and we’re excited to continue to support the Talespin team through this next phase of growth and development.”
Kyle Jackson, chief executive officer and co-founder of Talespin, commented: “Creating better alignment between skills and opportunities is the key to solving the reskilling challenges organisations across the world are facing. That’s why it’s critical companies find a way to provide accelerated, continuous learning and create better skills data.”
“By doing so, we will open up career pathways for individuals that are better aligned to their natural abilities and learned skills, and enable companies to implement a skills-based approach to talent development, assessment, and placement. Our new funding and partnership with Cornerstone will allow us to expand our product offerings to achieve these goals, and to continue building innovative solutions that redefine what work looks like in the future.”