Latvia's BranchTrack Raises Seed Round

BranchTrack, online service for building interactive corporate training, said on Tuesday it has raised 250,000 euros seed round, helping it to attack a growing $130 billion market for corporate training and boost sales in Western Europe, US and other regions.

Co-­founder and Head of Product Jean Mauris sees the e­-learning industry comparable to web ­design ten years ago when professional services were needed to develop even a simple website. Today, we can all create better websites on our own, at a fraction of the cost.

“We are doing the same in corporate training. We are taking on agencies who produce expensive custom-­built simulations. Now any company in the world can use our platform to build their own training that is impactful, beautiful and works out of the box, at a fraction of the cost,” Mauris said.

Investors included Imprimatur Capital, Coffee Ventures and Zbigniew Gulbinowicz (Blue Bridge Baltic Lithuania).

BranchTrack simulation software is used in more than 1,500 companies, including paying customers like KPMG, Pearson, Mary Kay, Slack, Johnson & Johnson, PwC.