Torch Secures $40 Million In Series C Funding To Expand People Development Product Capabilities

May 23, 2022•about 3 years ago

Amount Raised

$40 Million

Round Type

series c

San Francisco

Description

Torch, a leading people development platform that harnesses the power of trusted relationships to fuel employee growth and success, today announced a $40 million Series C financing round, led by 137 Ventures. It includes significant follow-on from Initialized Capital, along with full participation from existing investors including Norwest Venture Partners and Obvious Ventures. This round further validates Torch as a fast-growing platform meeting the needs of employers who are looking to give employees access to professional development opportunities and nurture talent aligned with their organization’s strategy and values.

Company Information

Company

Torch

Location

San Francisco, California, United States

About

The company has also grown its customer base by signing on new customers including Zynga, and has seen expanded business from existing customers like Zendesk, as it extends its solutions to a growing number of enterprise businesses. As the company has scaled, Torch has continued to innovate and expand its product features to create a holistic people development platform, including through its merger with Everwise which added mentoring and an extensive mentor network to the platform’s learning and development product capabilities. Leading brands like Zendesk and Reddit use Torch to develop their employees, create stronger leaders, and improve business results.

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech