VitalSource, a Raleigh, N.C.-based digital learning platform with more than 20 million users worldwide, today announced the acquisition of Intrepid Learning, a Seattle-based company that develops corporate learning programs.
The deal will create a new brand, Intrepid by VitalSource, which combines technology and resources from both companies.
“Joining forces with VitalSource accelerates our ability to realize our mission, which is to create the world’s most engaging and impactful learning technology and see it used by the world’s best companies,” Intrepid Learning CEO Sam Herring said in a statement.
Herring will lead Intrepid by VitalSource as general manager. He told GeekWire that all 24 Intrepid employees based in Seattle will remain with the company; there are plans to expand in the months ahead.
“The Intrepid management team will lead the combined corporate and professional business for VitalSource,” Herring noted. “VitalSource will be investing in our business across all aspects — product development, sales and marketing, professional services, etc.”
Herring co-founded Intrepid in 1999 and the company found success providing employee training programs to clients like Boeing, Google, Facebook, and Microsoft. It raised investment from firms like Madrona Venture Group, FTV Capital, Rustic Canyon, and Montlake Capital.
In 2014, Intrepid sold off the non-technical part of its business to Xerox. It then built out a cloud-based collaborative learning platform as a standalone entity. The company now helps clients with leadership development; new hire onboarding; sales training; customer education; and more.
“Combining our scale in learning content delivery with the Intrepid Learn platform and team, the combined group has the experience and technology to help companies and professional development organizations enhance the scale and effectiveness of their learning programs,” VitalSource Chief Operations Officer Pep Carrera said in a statement.
The global e-learning market is expected to reach $275 billion by 2022.