Grovo
| Company type | Private |
|---|---|
| Industry | Software, Educational technology |
| Founded | 2010 |
| Founder | Jeff Fernandez, Nick Narodny, Surag Mungekar |
| Fate | Acquired by Cornerstone OnDemand in November 2018 |
| Headquarters | New York City , United States |
| Products | Microlearning SaaS platform for corporate training |
| Parent | Cornerstone OnDemand |
Grovo is a software company headquartered in New York City, established in 2010 by Jeff Fernandez, Nick Narodny, and Surag Mungekar. It provides a software-as-a-service (SaaS) platform focused on microlearning, allowing organizations to develop, oversee, and distribute educational materials efficiently.
History
Initially, Grovo began as a consumer-oriented provider of digital skills video tutorials. However, in early 2013, the company transitioned to a B2B SaaS approach centered around its microlearning platform. By offering concise, focused lessons, Grovo sought to improve the efficiency of corporate training programs.
Financial difficulties in May 2017 resulted in the founders stepping down. Later, in November 2018, Grovo was purchased by Cornerstone OnDemand, a management solutions firm, for $24 million.
Business model
Grovo’s SaaS solution delivers microlearning through video and audio lessons averaging 144 seconds in length, complemented by quizzes and practical exercises. The company applied for a trademark on the term "microlearning" in 2017. Its extensive content library includes topics such as digital skills, soft skills development, management training, and compliance education. The platform features a dashboard equipped with learning management system capabilities, analytics tools, and client support services designed to align training initiatives with business goals.
Investors and funding
In May 2011, Grovo obtained seed capital from Krishna "Kittu" Kolluri of New Enterprise Associates, Andy Dunn (Founder and CEO of Bonobos), Mareza Larizadeh of Larizadeh Capital Partners, among others.
On July 17, 2013, the company announced a $5.5 million Series A funding round led by Greg Waldorf—then CEO-in-residence at Accel Partners and former CEO of eHarmony—with participation from Jeff Clavier of SoftTech VC, Greg Sands of Costanoa Venture Capital, and Andy Dunn through Red Swan Ventures. Greg Waldorf also joined Grovo’s board at that time.
Grovo secured $15 million in Series B financing announced on February 18, 2015. This round included existing investors Accel Partners, Costanoa Venture Capital, Greg Waldorf, and SoftTech VC. The funding was finalized on August 8, 2014; Accel’s Sameer Gandhi and Kirk Bowman joined the board following this round.
In January 2016, Grovo raised $40 million in Series C funding led by Accel Partners with contributions from previous investors and newcomer Vayner Capital. This brought total capital raised to $65 million.
In November 2018, management solutions provider Cornerstone OnDemand acquired Grovo for $24 million.
Recognitions
Grovo was listed among the "30 Most Disruptive Upstarts" by CNNMoney. Entrepreneur acknowledged the firm as one of the "Best Entrepreneurial Companies in America" and highlighted it for having one of the "Best Company Cultures in 2015." Tech.Co named Grovo "New York Startup of the Year," while Crain's New York Business included it in its Top 100 Best Places to Work for 2015. Additionally, PC Magazine ranked Grovo among the leading learning management systems in 2015.