Success for two-time Advance Queensland fund recipients, GO1.com is continuing to soar with the corporate education startup recently raising more than $30 million in Series B funding led by Microsoft’s venture capital arm, M12, and SEEK.
It marks the first-ever investment in the Asia Pacific region by M12 and is a significant milestone considering the $10 million raised in Series A funding just 10 months ago.
Since launching in 2015, GO1.com has made steady inroads across global markets to become an established leader in online learning and education, working alongside some of the largest companies in the world and covering a wide range of industries and regions.
GO1.com co-founder, Vu Tran, said funding received from the Queensland Government at the beginning of their startup journey was integral to going global.
“In 2016, we received almost $180,000 in funding from the Advance Queensland Ignite Ideas Fund to help commercialise a native mobile application of the GO1 training platform,” said Mr Tran.
“This allowed us to successfully launch a mobile GO1 platform for Android and iOS, providing an enhanced mobile experience for customers and their employees to access compliance and professional development training remotely.”
“We were also recipients of $1.5 million under the Queensland Investment Corporation’s Business Development Fund — this not only assisted us to increase sales but enabled early expansion into the United States and Asia.”
Since receiving initial funding in 2016, GO1.com has continued to experience steady growth in the Australian market and global markets.
“Our users, content catalogue and recurring revenue streams have doubled in size since this time last year,” Mr Tran said.
“We now have 500,000 different courses available with 50,000 for our subscription customers and have expanded into the UK and US markets, opening offices in London, San Francisco and Utah.”
Recognising the value of GO1.com to the Queensland ecosystem, Advance Queensland awarded the startup $250,000 in 2018 under round four of the Ignite Ideas Fund.
“This dollar for dollar matched funding will allow us to develop and launch an improved system that aggregates hundreds of face-to-face training options and will simplify the booking process by matching the training requirements of an organisation with the best available content.
“This will help us address the needs of time poor businesses searching, booking and managing face-to-face training needs related to their compliance, regulatory or talent development needs,” he said.
Mr Tran believes the support GO1.com has received from Advance Queensland has provided countless opportunities to build on its initial success and continue to accelerate growth.
“With the new platform ear-marked for completion in 2019, we anticipate our team of 100-plus people will grow by 50 employees in Queensland alone.”
GO1.com is a home-grown startup success story and an example of the robust innovation ecosystem thriving in Queensland. The company’s business expertise and knowledge coupled, with innovative training skillset technology, provide considerable value to all Queenslanders.
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