The funding round was led by Crédit Mutuel Innovation and Turenne Capital, and also involved A Plus Finance, a long-standing investor in the company. Training Orchestra is a leading European provider of integrated training management solutions. It advises its clients on how to improve their performance, offering a solution that covers the entire training process, including financial, legal, administrative, commercial, co-ordination and portal functions.

With more than 300 clients and 1.5 million users - including Continental, Nikon School, Areva, EADS, Epame Formation, Johnson&Johnson and Van Cleef&Arpels - Training Orchestra offers solutions that help clients take advantage of new arrangements and developments arising from training reforms (such as the introduction of the CPF professional training account in France).

The company employs 45 people and manages training budgets totalling more than €1.5 billion worldwide, helping clients get the most for their money.

This latest funding round will support Training Orchestra's international development, with the aim of creating a global leader in training management software by increasing its market share, particularly in the Americas. The company currently generates more than 85% of its revenue in France, but wants more than 75% of its revenue to come from outside France within four or five years, including 30% from the USA. In addition, it is planning to develop the coverage of its sales network.

"This funding round will allow us to step up our international expansion, our investments and our recruitment of additional salespeople in the USA, where we already have a number of offices, clients and partners," said Stéphane Pineau, Co-Founder, Chairman and CEO of Training Orchestra. "We are also looking to develop our product range in order to continue innovating and to develop the most advanced features available in the training industry, allowing us to create even more value for our clients," added Laetitia Nourry, Co-Founder and General Manager.

"Training Orchestra, with its team of experts, has shown its ability to form prestigious strategic partnerships with global leaders in HR IT systems," explained Stéphane Simoncini, Principal at Crédit Mutuel Innovation (formerly CM-CIC Innovation).

"Training Orchestra's management has an excellent track record in understanding client requirements, which we think is crucial in meeting the specific needs of this market effectively and over the long term. Also, France's regulatory environment is mature, allowing the company to put together a scalable, adaptable offering with real depth in terms of its features, which will help its international development," added Cyrus Contant, Associate at Crédit Mutuel Innovation.

"We were impressed by the team led by Stéphane Pineau and Laetitia Nourry and by Training Orchestra's strong market position. Many companies lack effective tools for managing their employees' classroom-based training, and often use ad-hoc solutions such as Excel worksheets. Training Orchestra has developed a genuine ERP system for clients' training needs, managing and optimising the whole process and providing an ideal solution to their requirements in this area," added Charles Bourgain, investor at Turenne Capital.

"We have invested in many enterprise SaaS providers, and we were immediately impressed by Training Orchestra's business. Firstly, it provides significant and tangible benefits to its clients: client satisfaction can be gauged by the company's very low attrition rate and high client value. But most importantly, we were attracted by the company's first-rate team, which has devised a strategy that is clear and easy for its partners to understand, and that has underpinned its growth in Europe and the USA," said Marc Chancerel, Partner at Blueprint Partners.

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Investors

Crédit Mutuel Innovation

Turenne Capital

  • Charles Bourgain

A Plus Finance

  • Guillaume Girard
Training Orchestra
  • Stéphane Pineau (Co-founder, Chairman and CEO)
  • Laetitia Nourry (Co-founder and General Manager)
  • Xavier Sérès (Chief Financial Officer)

Advisors

  • Fund-raising advisor: BluePrint Partners (Marc Chancerel - Eric Plantier)
  • Legal Training Orchestra: Villechenon (Morgan Hunault-Berret, Alexander Kotopoulis)
  • Legal Turenne Capital/Crédit Mutuel Innovation: Duteil Avocats (Benoît Lespinasse)

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