Upskilling workers has become a key priority for multiple companies. In 2020, US manufacturing companies spent over $26 billion on upskilling efforts to retain workers, according to the Manufacturing Institute. The upskilling effort isn’t limited to manufacturing either. In 2019, Amazon pledged publicly to upskill 100,000 employees by 2025. As more companies focus resources on helping employees learn new skills, this trend will help companies like Sana Labs to grow.
Sana Labs Provides Upskilling for Three Industries
The training startup currently focuses on applied training in life sciences, healthcare, and financial services. In the financial industry, Sana Labs helps companies improve sales performance and meet compliance goals. Additionally, in healthcare, Sana Labs is already used by 70,000 nurses at more than 2,000 hospitals and clinics globally for training.
Unlike other training platforms, the company provides customized upskilling for individuals who use the AI platform. The platform achieves this outcome by giving students and administrators detailed analytics on each person’s strengths and weaknesses. Organizations can create their courses on Sana Labs as well.
Growth Plans for 2021 Include Recruiting
Sana Labs is investing in growth across its entire business operation. “The new funding will be used to invest more in technology R&D, sales-focused marketing, and people to make this happen,” says Nordell-Westling. As of late January 2021, the company is recruiting for multiple positions, including software engineering, content marketing, recruiting, and finance.
The Venture Capital Firm Fueling Sana Labs
EQT Ventures, also based in Stockholm, Sweden, acted as the lead investor in the Series A funding round. The company’s list of successful exits covers several areas of the technology industry. In Europe, the company has invested in 3D Hubs (a manufacturing technology company acquired by Protolabs), Nectarine Health (elder care with the Internet of Things technology acquired by Brighter), and Small Giant Games (a video game development company based in Finland).
EQT Ventures has continued to invest in companies throughout the past year actively. In December 2020 alone, the company acted as the lead investor in Kive, Curb Food, Cleo, Luki, and Wonder. The firm launched its first investment fund in May 2016, and it has over €660 million ($799 million) in commitments.
Before its Series A round, Sana Labs had raised approximately $4 million from angel investors in Sweden.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.