Fifty raises $10 million to bring eDoing to Europe
- Fifty is the leader in eDoing and has developed a SaaS platform that enables the rapid adoption of new business habits to accelerate business transformation.
- German Signals Venture Capital, Eurazeo, and US funds Acadian Ventures, S3 Partners and Tekton Ventures participated in the $10 million round.
- Fifty is used by large groups, including half of the CAC 40, as well as by medium-sized companies.
Paris, 5 July 2022 - Fifty, the leading eDoing company, announces that it has raised a further $10 million from French and international investors to accelerate its growth in France and Europe, including Germany's Signals Venture Capital, France's Eurazeo, and the US companies Acadian Ventures, S3 Partners and Tekton Ventures. Since its creation, Fifty has also been supported by business angels, successful entrepreneurs and leading behavioural scientists, including Romain Niccoli (co-founder of Criteo), Olivier Sibony (Professor at HEC and Oxford) and Steve Fiehl (co-founder of e-learning pioneer CrossKnowledge). Hugo and Axel Manoukian, founders of MoovOne, join them in this round of financing.
A SaaS solution combining behavioural sciences and artificial intelligence already adopted by major French groups
The corporate training market will reach $402 billion by 2025 (Beroe Inc), as companies invest heavily to retain employees, accelerate transformation and improve performance. But only 12% of this training is actually put into practice (Harvard Business Review). Behavioural sciences have shown that learning does not mean that you succeed in changing in real life.
Fifty uses the work of two Nobel Prize winners in behavioural economics (nudge) to bridge this gap between theory and practice on a large scale. The solution recommends personalised actions to employees that can be carried out in their daily work life, to achieve their goal of increasing their skills. The realisation of these actions is facilitated by unique behavioural functionalities (active choice, intention implementation, social engagement etc.) and the integration with everyday tools (Microsoft Teams, SMS, Agenda). Employees can then measure their development in concrete terms, made anonymous for the company, which only has access to macro data.
Half of the CAC40 companies are already using Fifty, including Crédit Agricole, Orange, Axa, Michelin and Bouygues, as well as public companies such as the La Poste group and scale-ups such as ManoMano (Next 40).
<span>The platform allows its clients to concretely improve management, team agility, soft skills and the embodiment of corporate values such as inclusion. But customers can also customise or feed their own content into the platform via the administration interface</span>.
International fundraising to triple the number of employees and impose eDoing in Europe
This round of financing will enable Fifty to further accelerate its growth in France and to establish itself at a European level, particularly in Germany and the UK. The investment will also enable the company to continue developing its personalisation algorithm and integration into the corporate IT ecosystem. To this end, the company will triple its workforce within the year.
Alexia Cordier, co-founder and CEO of Fifty, says: "As companies navigate an uncertain environment and transform the way they work, supporting employees in adopting new behaviours is crucial. Our eDoing solution has demonstrated its ability to do this in a fast, proven and measurable way, to the benefit of both our customers and our users. We are proud of this new stage of development with strategic investors who share our vision of more effective professional development."
Christian Weniger, Managing Partner at Signals Venture Capital, added: "There is a huge need for more effective learning and development solutions. The market is ripe for disruption and we believe that Fifty's eDoing solution is a game changer. Their growth is proof of this and we are delighted to be working with Alexia, Clement and Jeremy to make Fifty a European leader.
Thomas Otter, General Partner of Acadian Ventures, comments: " The world of worktech is paved with good intentions. Organisations invest in all sorts of technologies in the hope that they will make employees and managers more effective and engaged. But until now, these systems have lacked a systematic approach to triggering, supporting and reinforcing real behaviour change. We believe Fifty is changing that. Alexia and her team have created a new class of solutions, based on the latest behavioural research. We are delighted to be part of this round."
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About Fifty:
Fifty is a SaaS platform founded in 2018 by Alexia Cordier, Clément Lavollé and Jérémy Salmon, which enables the rapid and measurable adoption of new business habits. Their eDoing solution bridges the gap between theory and practice in business transformations and training. It combines the work of two Nobel Prize winners in behavioural economics and artificial intelligence for use at scale. Fifty is used by major corporations, including half of the CAC 40, as well as mid-sized companies to improve management, team agility, soft skills and the embodiment of corporate values.
About Signals Venture Capital:
Signals Venture Capital is a European venture capital firm based in Berlin that invests in digital solutions that accelerate or disrupt the transformation process of entire industries. Signals Venture Capital focuses on seed and series A software-centric B2B business models in Europe, the US and Israel, particularly in the field of enterprise technology. The portfolio includes companies such as CoachHub, everphone, Workpath, Vay and Clarisights, among others.
www.signals.vc
About Eurazeo :
With nearly 30 billion euros under management, Eurazeo is a recognized player in mid-market private equity in Europe and a leader in tech investment. The group invests from seed to growth in innovative companies and has supported some of Europe's best entrepreneurs over the long term (Doctolib, Malt, Mano Mano, Dataiku, Wefox, Qonto, Payfit, Algolia, Peakon, Contentsquare, Tink, Backmarket, Onfido, Ankorstore, Sorare, Neo4j, Livestorm, Alma,...)
www.eurazeo.com
About Acadian Ventures :
Acadian Ventures is an early stage venture capital firm that invests in founders who are leading the work revolution and imagining the Future of Work. The company was founded in 2019 and is led by Jason Corsello and Thomas Otter, two seasoned operators who have grown publicly traded global companies into market leaders. Acadian Ventures invests globally with investments in North America, Latin America, Europe and Asia.
www.acadianventures.com