Bright Software Raises $2.7M to Accelerate Growth of AI-Powered Immersive Learning Platform

BETHESDA, MD / ACCESSWIRE / March 2, 2023 / Bright Software, Inc., an emerging global leader in immersive learning and skill development technology, has completed its seed funding round, surpassing its initial goal by raising $2.7M.

Bright offers a dynamic immersive learning platform that integrates lifelike simulation capabilities across a wide variety of modalities, along with an end-to-end suite of learning strategy and creative services. This holistic capability allows Bright to deliver comprehensive and unparalleled immersive learning programs to its customers.

The round was co-led by Ringbolt Capital and Triple Impact Capital, with additional participation from Riptide Ventures, Cake Ventures, Blu Venture Investors, deftly.vc, and JHH.vc. Bright is thrilled to welcome Srikanth Ramachandran, Managing Partner of Ringbolt Capital, to its Board of Directors.

“Bright is poised to revolutionize the way companies deliver training and development to their employees,” Ramachandran said. “Their unique approach harnesses the power of artificial intelligence to make learning easier and more powerful. We are very excited about the future of Bright.”

Rob Wright, CEO and Founder of Bright, said, “Our mission is to put practice at the center of our customers’ learning strategies and help them undeniably prove the ROI of training. By shifting the Learning & Development operating model away from weeks of live classes or eLearning toward scalable, iterative practice, learners build proficiency dramatically faster. And the skills data we generate helps prove it in a way that traditional LMS systems simply can’t. Over the next 5-plus years, we believe AI-powered simulation and practice at scale will become the new standard in corporate L&D – and we’re well-positioned to lead that trend.”

Bright will use the funds from the round to accelerate product development, particularly in the area of AI-powered conversation simulation. The round will also power expansion through the company’s Sales & Marketing and Customer Success functions. The funding comes on the heels of more than 300% YOY revenue growth in 2022, as the company continues to expand its global reach.

Reflecting on the company’s early traction in the market, Wright shares: “I remember a quote we received from a learner very early on. They said, ‘I’ve worked at a lot of large companies, but I’ve never had anyone invest in me the way you just did.’ I knew at that point we were on the right track. There’s something meaningful about the fact that practice and simulation align both learner and business interests. Learners build skills faster, feel valued, and thrive. Businesses see training costs go down while performance improves. Given the tough economic and talent markets we’re facing, it’s the right next step in the evolution of L&D.”

Bright’s immersive learning platform is the learning industry’s first fully-integrated platform capable of delivering a wide variety of simulation modalities. These include conversation simulations using voice, video, or text, as well as software simulations, decision-making simulations, and even the ability to upload documents. AI-powered coaching provides real-time automated performance feedback to learners, and human coaches can use Bright’s Coaching Inbox to provide personalized performance coaching via file upload, text, audio, or video. Learner skill proficiency data captured throughout the learning journey is aggregated into a detailed dashboard, displaying skill proficiency progress over time.

More information regarding Bright, including new product capabilities and partnerships, will be announced in the coming months.

About Bright Software, Inc.

Bright Software, Inc. is an emerging global leader in immersive learning and skill development technology that is shaping the future of learning through scenario-based simulation, real-life practice, and AI-powered coaching. Through our unparalleled immersive learning platform, we use multi-modal simulation capabilities to facilitate real practice for real life and help learners develop proficiency in the skills that matter most, all without any help from IT. Our customers can wield practice at scale by leveraging both human and AI-powered performance coaching, and they can prove their learners are ready with our learner skill proficiency dashboards. Our self-service authoring tool and our suite of end-to-end learning strategy and creative services completes a holistic capability that allows us to be a true strategic partner for Learning & Development transformation globally.

To learn more about Bright, visit www.learnwithbright.com

CONTACT INFORMATION

Company: Bright Software, Inc.

Name: Luc Dallaire

Website: www.learnwithbright.com

SOURCE: Bright Software, Inc.