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Insights — Exbo Group

Market Watch: Sana Labs' Venture Funding Enables AI-Powered Corporate Learning Growth

AI Learning
Minute read

Throughout the year, Exbo Group utilizes Pitchbook to track companies in the EdTech vertical with whom we are not directly affiliated. In doing so, we gain insights into major deals that are happening in the market and are able to gauge how those deals might impact our clients. In this case study, we’ll be looking into Sana Labs and their end-to-end learning platform.

Sana Labs, a Stockholm-based startup, received venture funding to fuel the advancement and adoption of its AI-powered corporate learning platform. 

Founded in 2016, Sana Labs is the developer of a personalized learning system that applies artificial intelligence and machine learning to assess individual skills gaps and deliver tailored training content to employees. While the company had generated early traction by 2019, it was in need of capital to scale up.

In January 2021, the company raised an $18 million Series A round from EQT Ventures, which enabled investments in product R&D and hiring, while also validating Sana's AI learning approach. In May 2023, Sana Labs secured a total $62 million through a Menlo Ventures-led Series B round, with NEA contributing an additional $28 million [15], [16]

Sana Labs said the sizable Series B infusion would be used to expand its engineering team and accelerate its platform advancement and commercialization. In just a few months following the raises, Sana Labs had increased its headcount significantly. The company also ramped up spending on AI research and opened a US office. Since the Series B raise, Sana has brought on notable customers such as Klarna and Electrolux. 

While risks like intensifying competition exist, the Series A and Series B funding enabled Sana Labs to scale up rapidly. Investments in the technology and go-to-market are supporting surging enterprise adoption. With its VC backing, Sana Labs is positioned to solidify its status as a leader in AI-powered corporate learning.

Exbo Group Research, BuyOut/LBO, Corporate and M&A Deals. Source: PitchBook Data, Inc.; Data has not been reviewed by PitchBook analysts.