Investment will fund expansion of Brighton-based Elucidat’s international customer base, which includes Tesco, Kingfisher, Metro Bank and Decathlon

Elucidat reached its 35^th million learner in 2022

Elucidat received the Great Place to Work award in 2020, 2021 and 2022

YFM Equity Partners (YFM) is pleased to announce the completion of a £2m follow-on investment into portfolio company Elucidat, an elearning authoring platform for enterprise customers globally.

Founded in 2014 and based in Brighton, Elucidat is a leading elearning authoring platform that enables its customers to enhance their learning and development goals by producing digital learning content faster, without compromising on quality.

Elucidat’s international customer base includes Tesco, Kingfisher, Metro Bank and Decathlon, all of whom recognise the power of capturing knowledge to create tailored learning experiences for staff that can substantially improve business performance. Driven by its mission to help people create impactful elearning by unlocking knowledge from any employee, Elucidat has scaled rapidly, reaching its 35^th million learner in 2022.

YFM first invested £3.5m in Elucidat in 2019 to accelerate product development and drive growth in North America.  Its latest funding round will be used to continue building Elucidat’s global customer base of large enterprise organisations.

James Savage, Partner at YFM Equity Partners, said:

“Our strategy is to partner with and support our successful companies as they scale. We are delighted to offer further support to Elucidat, whose proven technology enables Learning & Development professionals in some of the world’s largest organisations to drive real change with engaging elearning.”

Steve Penfold, CEO of Elucidat said

“We are delighted to continue to partner with YFM for the next phase of our growth. I have greatly valued working with James and the YFM team as we have expanded our sales reach internationally and continue to help our customers to create impactful elearning by unlocking knowledge from any employee.”

Elucidat is a proud recipient of the Great Place to Work award in 2020, 2021 and now 2022 and has partnered with Ecologi, an Environmental organisation based in Bristol, to help it reach its Climate Positive goals.

The YFM team included: James Savage and Charlie Winward

Advisers on the deal included:

Shoosmiths (Legal for YFM): Andrew Millar, Daniel Pugh

TLT (Legal for Elucidat): Nina Searle, Rachel Kelly, Alex Morris

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About YFM

YFM invests £2m to £10m into businesses with strong growth potential located across the UK through a regional network of offices in London, Leeds, Manchester, Reading and Birmingham.

YFM Equity Partners are specialist, independently owned, private equity investors. Having recently celebrated 40 years of investing experience, our portfolio may have changed over the years, but our ethos has remained the same – to support small businesses across the UK in their next phase of growth. We seek to unlock value and growth potential by providing up to £10 million of equity to fuel the development of established business throughout the UK regions. We do this by helping our portfolio companies launch new initiatives, make transformative acquisitions, and upgrade technologies and systems. We are dedicated to working alongside management teams to create long-term value for our investors, the companies we invest in, and make a positive economic impact for the communities in which we work. We manage funds in excess of £420 million which include venture capital trusts and private equity funds.

YFM Equity Partners conducts its investment business through its subsidiary YFM Private Equity Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 122120).

For more information, please visit www.yfmep.com or follow us on LinkedIn

For media enquiries please contact Citigate Dewe Rogerson at: [email protected]

About Elucidat

Founded in 2013, Elucidat’s vision is to enable impactful elearning experiences at scale for the world’s leading companies.

Elucidat’s elearning authoring platform helps people to create impactful elearning by unlocking expertise from any employee. They have won a Brandon Hall Group Award for Best Advance in Content Authoring Technology for three years in a row. More than just an authoring tool, Elucidat is a partner of choice for some of the world’s leading companies. Elucidat’s team of experts offers unrivalled support to customers to ensure long-term success.

Elucidat is headquartered in Brighton, England. For more information, visit www.elucidat.com/about-us