Sana Raises $34M Series B to Transform the Way Organizations Learn Through AI
Following 7x year-over-year growth, Menlo Ventures leads funding round to accelerate US expansion
STOCKHOLM, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Today, Sana, the leading AI-powered learning platform, announced the close of its $34M Series B led by Menlo Ventures. Existing investor EQT Ventures also joined the round with several founders and operators. Menlo Ventures' partner JP Sanday joins the board as part of this round. This funding follows a 7x year-over-year increase in Annual Recurring Revenue (ARR).
Sana was founded with the vision of leveraging artificial intelligence to help organizations learn and share knowledge. To that end, Sana built a category-leading learning platform that enables organizations to consolidate their learning and capture, organize, and personalize all their institutional knowledge.
From personalized learning recommendations to an AI writing assistant that automatically generates content, Sana applies the latest breakthroughs in AI to enhance and optimize the entire learning and knowledge-sharing journey.
Sana's AI-powered semantic search empowers employees to get the knowledge they need from anywhere in their organization. The platform connects and indexes tools like Slack, Salesforce, Notion, LinkedIn Learning, and Google Workplace to provide employees with automatically generated answers in natural language. The result: an end-to-end platform that decreases onboarding time, improves sales efficiency, and grows and retains top talent.
"Now a $30 billion industry, the learning and development market has demanded more sophisticated tools. With a world-class product and incredible team, Sana is uniquely positioned to win the market. They offer two vital benefits to the historically underserved L&D category: the scalability and efficiency of artificial intelligence and the compelling experience of a consumer-grade product," said JP Sanday, Partner at Menlo Ventures.
"The ambitious customers we serve—pioneers like Alan, Svea Solar, Kry/Livi, and Merck—are on a mission to change the world. Sana's job is to accelerate their efforts by ensuring every employee has access to the right knowledge at the right time. By leveraging the power of AI, Sana can unlock organizational knowledge with unprecedented scale and speed, supercharging the organizations we serve," said Joel Hellermark, founder and CEO of Sana.
Sana is now the home for knowledge and learning at digital health company Alan—consolidating a myriad of learning and productivity tools. Today, Alan uses Sana to onboard employees, train sales and customer support reps, and develop their leaders.
"Speed, transparency, and personal growth are key to Alan's culture, and Sana was the only provider able to deliver on all three. Since using the platform, we've decreased our ramp time while boosting learner engagement. We think Sana has set a new standard for what organizations expect from a learning platform. Their tech and UX have leapfrogged the industry," said Filip Lam, Head of People Growth at Alan.
With the new funding, Sana will extend its product development and expand its team across Stockholm, London, and New York offices. The headquarters will remain in Stockholm, where founder and CEO Joel Hellermark founded the company aged 19, six years after teaching himself to code in C.
"Joel's visionary leadership, and his rare combination of being technically skilled and exceptionally ambitious, has enabled him to assemble a world-class team from some of the foremost tech companies. With learning as the foundation of human progress, we believe team Sana has the potential to play an important role in reimagining learning as we know it," said Sandra Malmberg, Director at EQT Ventures.
"Our ambition is to build an internet-scale Library of Alexandria, where more than a billion people can learn about anything and share everything they know," said Hellermark. "We're thrilled to have the support of Menlo Ventures and previous backers on this mission."
Sana is an AI-powered learning platform that empowers organizations to find, share, and harness the knowledge they need to achieve their missions. Backed by some of the world's leading investors, operators, and founders, Sana has raised $54M to date. The company's headquarters are in Stockholm, Sweden, with offices in London and New York.
About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That's why we support businesses including Benchling, Chime, Carta, Poshmark, Uber, and Roku that are reimagining life and work for the better. Over 43 years, we've grown a portfolio that includes more than 70 public companies, over 100 mergers and acquisitions, and $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we're in, we're all in. www.menlovc.com
To view this piece of content from cdn.newswire.com, please give your consent at the top of this page.
Image 1: Joel Hellermark, founder and CEO at Sana
To view this piece of content from cdn.newswire.com, please give your consent at the top of this page.
Image 2: Sana
This content was issued through the press release distribution service at Newswire.com.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Borregaard ASA: Share buy-back programme completed4.12.2023 16:58:26 CET | Press release
04.12.2023: Borregaard ASA (”Borregaard”, OSE ticker: BRG) Reference is made to the stock exchange notice of 17 November 2023 where Borregaard announced the intent to repurchase up to 200,000 of its outstanding common stock. The repurchase of shares will be conducted in a period from 20th November up to and including 20th December 2023 at the latest. Borregaard has in the period from 29 November up to and including 4 December in total purchased 60,204 own shares through broker at an average price of NOK 173.24 per share. By these transactions, Borregaard has completed its share buy-back programme by repurchasing 200,000 shares of its outstanding common stock. Aggregated overview of transactions per day: DateAggregated daily volume (number of shares)Weighted average share price per day (NOK)Total daily transaction value (NOK)29.11.20239,142173.32161,584,506.0730.11.202317,258172.80752,982,311.8401.12.202316,902172.73082,919,495.9804.12.202316,902174.14862,943,459.64Previously disclosed
BBS-Bioactive Bone Substitutes Plc: Managers' Transactions - Pekka Jalovaara4.12.2023 15:45:00 CET | Press release
BBS-Bioactive Bone Substitutes Plc, Company announcement, Management transactions, 4 December 2023 at 4.45 p.m. (EET) BBS-Bioactive Bone Substitutes Oyj - Managers' Transactions – Pekka Jalovaara ____________________________________________ Person subject to the notification requirement Name: Jalovaara Pekka Position: Member of the Board/Deputy member Issuer: BBS Bioactive Bone Substitutes Oyj LEI: 743700BYSBP0PCR6N767 Notification type: INITIAL NOTIFICATION Reference number: 743700BYSBP0PCR6N767_20231203205051_6 ____________________________________________ Transaction date: 2023-11-30 Venue not applicable Instrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENT ISIN: FI4000260583 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 126,606 Unit price: 0.005012 EUR Aggregated transactions (1): Volume: 126,606 Volume weighted average price: 0.005012 EUR ____________________________________________ Person subject to the notification requirement Name: J
AB Linas Agro Group: notification on acquisition of block of shares of the Company4.12.2023 15:21:52 CET | Press release
AB Linas Agro Group, ISIN code LT0000128092 (hereinafter - the Company), received a notification from UAB “SB Asset Management” on the acquisition of block of shares and voting rights of the Company (enclosed). Additional information: Mažvydas Šileika, Finance Director of AB Linas Agro Group Mob. +370 619 19 403 E-mail firstname.lastname@example.org Attachment Notification-of-aquisition-of-block-of-shares LNA-s1204
XPENG G9 secures third place in Car of the Year in Denmark 20244.12.2023 15:04:22 CET | Press release
XPENG G9 secures a top 3 position in The Car of the Year in Denmark Photo credit: Lars Krogsgaard COPENHAGEN, Denmark, Dec. 04, 2023 (GLOBE NEWSWIRE) -- XPENG Motors ("XPENG" or the "Company," NYSE: XPEV and HKEX: 9868), a leading Chinese smart EV company, last week secured third place in Denmark’s Car of the Year 2024 for their flagship SUV, XPENG G9. Denmark’s annual Car of the Year is a tribute to cars that demonstrate outstanding qualities and drive ground-breaking innovations. The award is organised by the association of Danish Motor Journalists. This year, the jury consisted of 20 car experts from a wide range of media. XPENG G9 brings some of the most powerful and advanced EV technology to Europe, including XPENG's latest powertrain system with 800 V Silicon Carbide (SiC) platform for ultra-fast charging of up to 300 kW, allowing drivers to add up to 100 km of range in just five minutes. XPENG G9 had previously proved its worth with an impressive performance during the initial r
World-Renowned Artist BRITTO Launches Private Terminal Lounge Takeover with XO4.12.2023 15:00:00 CET | Press release
Artist’s "Graffiti Collection" debuts at the new XO Palm Beach lounge, in a first-ever private airport lounge takeover Palm Beach, Florida December 4, 2023:XO, the world's premier private aviation network, has announced an exclusive partnership with Romero Britto, considered to be the most licensed artist in the world, to celebrate innovation and creativity. In a first-ever private airport lounge takeover, Britto exclusively debuted his new "Graffiti Collection" at the new XO lounge at Palm Beach International Airport. The collection, inspired by the walls of Britto's very first studio in Miami — where he had the opportunity to add his own spray-painted, graffiti, color splashes, and freehand messages of hope, happiness, and love — showcases his signature vibrant and optimistic pop art style. Palm Beach was chosen as the ideal location for the debut of Britto's new collection as it reigns as one of the most popular destinations for XO Members; with New York and Palm Beach as one of the