FanDuel co-founder raised $30 million to fund a startup – expansion Provides a platform for learning and development at the ‘Enterprise’ and ‘Executive’ level. Following a $16 million Series A round in November, Hone today closed its Series B, which included contributions from 3L Capital (which led the round), F-Prime Capital, Cowboy Ventures and Slack Fund. CEO Tom Griffiths said the new capital will move toward experimentation with “smart” recommendations and reinforcements, in order to “enhance the learner experience” and “achieve more successful educational outcomes.”
After co-launching FanDuel and helping develop sports betting apparel for hundreds of employees, Griffiths told TechCrunch he was inspired to reinvent the coaching experience for today’s workplace. He reached out to Hon’s second co-founder, Savina Perez, at a conference about the shared belief that leadership development should be widely available.
“Given [Perez’s and I’s] Complementary skill sets, her B2B marketing expertise, and her commercial-to-consumer product expertise, said Griffiths, decided to work together to make our vision of democratizing executive-quality people skills education a reality. “[W]It aims to democratize access to high quality training – making it available to all employees across the organization. To do that, we had to make it scalable and accessible – which is why we’ve been online from the start.”
Hone offers direct instruction and executive-focused small groups with modules to reinforce concepts through practice and real-time feedback. Across content sectors such as management, team dynamics and wellbeing, the platform provides coach-led curriculum-based training including time for peer discussions.
New Hone students enter a four-week boot camp, with subjects selected by the company. From there, they have unlimited access to classes throughout the year.
Learning platforms for businesses are practically a dime a dozen (see go 1And the EduMeAnd the BetterUpand LinkedIn Learning, Coursera, etc.), but Griffiths emphasizes that Hone stands out because its content is not pre-recorded and emphasizes skill-based courses rather than one-on-one training. Furthermore, Hone offers automation tools for HR administrators, such as automated scheduling and attendance tracking for training.
Griffiths said teachers get paid “hundreds of dollars an hour” — which increases with experience and expertise with Hone. He claims it’s four to five times what they typically earn on individual training platforms, which he justifies due to the greater responsibility and combined budget structure of Hone.
Griffiths says future plans include in-person events where executives will be able to network and share ideas.
“We have implemented integrations with [platforms] Like Workday, Rippling, and SAP SuccessFactors. We have also upgraded our elective offerings so that learners can choose from a larger selection of master classes in the learner-led portion of their experience,” Griffiths said. team-based [and] Adding learning paths for individual contributors and emerging CEOs.
When asked about growth prospects, Griffiths said the pandemic has been a “huge tailwind” for Hone, prompting its customer base to expand to include brands including Indeed, ConocoPhillips, Pacific Sunware, Allscripts, TomTom and Aramark. Although revenue has not been disclosed, Griffiths says Hone is actively recruiting, with a goal of bringing in approximately 30 employees by the end of the year (the company currently has 70).
We have been very well positioned to meet the challenges posed by the pandemic to learning and development. And the training that focuses on our people skills is very global across industries so we haven’t seen much of a slowdown, despite the cooling we’ve seen in the tech industry,” Griffiths emphasized. Reducing it in light of a deteriorating economy. This is not what happens in companies that focus on retaining their best talent. If you are laying off employees or freezing staff, smart companies understand that learning and development is essential to retaining and benefiting the best employees in a tighter environment.”
The total collected from Hone is $52 million.