Aarhus, Denmark, February 9th, 2023 - Despite the challenging market conditions, LMS365 has been making waves in the learning industry this past year - ending 2022 with absolutely phenomenal results. From double-digit revenue growth to global market expansion, we overcame challenges set forth by The Great Reshuffle and entered 2023 as an industry leader. Below, CEO Rasmus Holst shares a candid reflection of 2022 and reveals how LMS365 is poised for even more success in the year ahead.
In 2023, LMS365 plans to continue the growth of the organization, investing in better products and services for customers. The company plans to continue its expansion through organic growth and acquisitions and aims to operate at a level of a publicly listed company by 2026. To support this strategy, the new CFO, Jacob Olsen, was brought on board to strengthen the financial management of the business as it continues to scale.
LMS365 ended the year with $19m in annual recurring revenue. Customer growth increased 30 percent, with more than 2,400 new organizations using our platform. Our social engagement was up, too: we brought in 50 million impressions and more than 1.4 million users worldwide. “The business grew 68 percent in a downturned market where many other companies were laying people off. This means we have a solid product, and we are where we need to be,” says Rasmus Holst.
In 2022, we acquired our long-term partner Evergreen Digital, marking an exciting expansion to the APAC region. LMS365 added a record-setting amount of talented people to the team, a significant sign of forward movement. “We have gone from a local Danish player to a global organization,” Rasmus Holst notes. “We are still growing through The Great Reshuffle and pushing the boundaries in a bootstrap fashion. You can't call yourself a leader if you can't deliver the results.”
LMS365 gave even more people access to democratized learning in 2022 with the launch of our Freemium subscription, which brought in 1000+ new customers “Again, we stepped up in the way we've delivered the product,” says Rasmus Holst, citing built-in integrations with Microsoft Viva Learning and the Go1 content hub.
“We are moving forward; it's a phenomenal business.”
— Rasmus Holst, CEO, LMS365
Our learning platform received ISO 27701 certification for advanced privacy data protection and ISO 9001 Compliance Verification for customer focus and continued improvement, proving our quality on a globally recognized scale. LMS365 was also awarded with our first G2 Leader badge for ranking in the top 35 of the Corporate Learning Management System category, a strategic goal we achieved in just six months.
Along with expanding our global reach, LMS365 also expanded our symbiotic relationship with Microsoft. As a top-tier partner, we participated in events at Microsoft Inspire 2022 and Microsoft Envision Europe and were featured in CEO Satya Nadella’s keynote presentation. “We've been part of most of the things that they do, which has given us even more affiliation, power and leadership within the Microsoft ecosystem,” Rasmus Holst explains. “We back that up by delivering products that fit the ambition.”
LMS365 has started the new year with a bold, modernized promise to empower people around the world to #LearnLikeYou. We are thrilled to put forth this vision in 2023 and continue our journey as a leading learning platform that helps employees learn in their own flow of work.
“We’ve stepped up our promise to become a symbol of leadership with the focus on our mission of democratizing learning,” says Rasmus Holst. “We make this about the learner — talent is becoming much more of a critical resource, and #LearnLikeYou is how people will advance in their careers and sharpen their skills.”
Holst added that along with doubling-down on our relationship with Microsoft, LMS365 will also dabble in some longer-term strategies around AI and Metaverse solutions in 2023, especially when it comes to facilitating training recommendations for users.
“In the ongoing Great Reshuffle, there are components that LMS365 could solve beyond learning, like performance management, hiring or measuring culture. A second product line — one that better helps our customers with recruiting, onboarding and building skills — is an ambition of the business.”
One launch coming in the new year is LMS365 Select, a tool offering advanced privacy, security, data isolation and operational excellence to customers in critical industries like government and healthcare. According to Holst, LMS365 will also continue to identify and strengthen its geographical presence in markets like Canada, Japan and the UK. “While some may be a bit afraid of the outlook, we will maintain our course of growth. We are a leader.”
Stay tuned to our social channels and news center to see how LMS365 continues to grow in our mission to democratize learning. Be sure to follow us on LinkedIn to keep up with all that 2023 has to offer!