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Thought Industries Achieves Record Q1 Revenue Growth Fueled By Enterprise Demand For Customer Learning Technology and Best-Practice Strategies
News provided byThought Industries
May 16, 2022, 1:00 AM ET
NI Expands Investment in the Ti Customer Learning Cloud With Shift to All Digital VILT Model that Improves Customer Experience and Operational Efficiency
BOSTON , May 16, 2022 /PRNewswire/ -- Thought Industries, the world's #1 platform for customer learning management (CLM), today announced record revenue growth in the first quarter of 2022, driven by both new and expanded customer engagements across a variety of industries, from SaaS and manufacturing to business services and healthcare. This is the latest quarterly earning milestone for the company, whose leading customer learning technology is changing the way organizations use training programs and services at all points in the customer lifecycle to reduce customer churn, drive engagement, and grow revenue across the business.
Automated test and measurement systems provider NI is among the companies expanding existing engagements with Thought Industries. NI delivers on-demand training to thousands of learners in the industrial and manufacturing space each quarter—with more than half of those typically composed of new users. The company uses the Thought Industries platform to train its customers on NI systems to ensure they get the most value out of their complex technology investments. NI recently expanded their use of the Ti Customer Learning Cloud as it shifted to an all-digital Virtual Instructor Led Training (VILT) training model, which will provide learners with a more immersive and engaging experience. This transition also significantly improved operational efficiency by automating previously manual processes using Ti platform capabilities such as Scheduled Reporting and Learner Notifications.
"We're looking forward to extending our relationship and doing more with Thought Industries," said Gretchen Edelmon, Principal Product Owner – Digital Learning Experience at NI. "We fully transitioned all of our virtual, instructor-led training events onto the Thought Industries platform, and this isn't something we could have done with our previous platform. The efficiency gains are only going to continue to grow as we work to implement self-service, credit-based registration in the future."
In addition to expanded engagements, new Thought Industries customers in the quarter include quantum computing software provider D-Wave Systems, as well as Teamwork, which provides software-based project management tools. The Safety Group – which offers products and consulting services to help industrial and manufacturing enterprises ensure safe work environments for employees – and Amilia, an eCommerce platform for activities and recreation, are also among the newly-signed Ti platform users.
Thought Industries also added new professional training customers in the first quarter, including HR.com, a destination for HR education services and certification courses, and the 280 Group, which provides project management training. These organizations will use the Thought Industries platform for facilitating their respective training services.
In addition to record revenue growth, other notable Q1 highlights for Thought Industries include:
- Achieving the #1 customer education platform ranking by the Craig Weiss Group for the second year in a row.
- Launching the Customer Learning Road Show Series,with events in Atlanta, Boston and Austin.
- Securing a "Potential Leader" position in the Fosway 2022 9-Grid™ for Learning Systems, a reflection of the growing recognition of Thought Industries' approach and leadership within the customer learning management category.
- The promotion of Daniel Quick to Senior Vice President of Learning Strategies, as well as the hiring of Debbie Schmidt as Senior Vice President of Sales and the promotion of Eleanor Young to Senior Vice President of Demand Generation.
"I'm thrilled to kick off 2022 with more customer growth than we've ever seen before. It bodes well for our company, customers and partners, and the broader industry as a whole, as more and more leading organizations recognize the value of customer learning," said Robin Wadsworth, President, Thought Industries. "We're seeing great momentum in all areas of our business and look forward to helping our customers continue their growth throughout the year."
About Thought Industries
Thought Industries provides the world's #1 software platform for customer learning management (CLM). Industry leaders use CLM to grow revenue, increase customer loyalty, and ensure customer success across technology, manufacturing, healthcare and other industries with complex products and training requirements. Thought Industries was founded in 2014 around the core belief that online learning experiences should be modern, intuitive, engaging and scalable. Headquartered in Boston, Thought Industries has offices across North America and Europe.
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SOURCE Thought Industries