The City & Guilds Group has invested in US-based digital credentials service provider, Credly. It’s the second investment from the Group’s New Venture Fund, which supports skills development worldwide by investing in post-revenue education technology companies in return for an equity stake.
Credly recognises lifelong achievement by offering the market-leading platform for issuing, managing, sharing and validating digital credentials and badges. Credly serves thousands of well-known organisations from around the globe in industries such as education, talent management, training, IT, finance and healthcare.
The use of digital credentials is rising exponentially due to the widespread use of online CV portals and job sites, and the need to link an individual’s experience, skills and competence to employers’ job role requirements. Carefully designed pathways or combinations of digital micro-credentials can also provide learners with fully accredited, widely-recognised qualifications from organisations like City & Guilds.
The City & Guilds Group is one of five investors in Credly, along with University Ventures, New Markets Venture Partners, Lumina Foundation and Lion Brothers Company. Among those investors, City & Guilds Group is the only one based outside of the US and with a focus on vocational education. Collectively, Credly has raised $2.5 M in seed funding.
John Yates, New Ventures Director, City & Guilds Group said:
‘Our Fund aims to support skills innovation across the world. It’s clear there’s a growing trend for innovation in skills recognition, as more and more people need to showcase their skills on digital platforms. Digital credentials empower individuals to validate their skills and help employers find the talented individuals they need for their businesses to succeed. Credly is bringing tangible recognition at scale to the value created by education and training – and has a clear focus on providing a system that supports an ever-changing jobs market.We’re delighted to work with such an exciting, fast-moving organisation and contribute to its future growth.’
Jonathan Finkelstein, Founder and CEO of Credly said:
‘At Credly, we see the world shifting towards a new marketplace of knowledge and skills where digital credentials are emerging as the currency of choice. Credly’s infrastructure for creating and managing digital credentials has already enabled thousands of educational institutions, corporations and professional associations to validate and acknowledge competencies that help people connect to new and better opportunities. The City & Guilds Group has been on the front lines of credentials, certificates and workforce readiness for almost 140 years. Its expertise and knowledge of European and worldwide labour markets will help Credly extend the promise of digital credentials to thousands of new organisations. We are proud to be working with the City & Guilds Group.’
Notes to Editors
About the City & Guilds Group
- The City & Guilds Group is a leader in global skills development. Its purpose is to enable people and organisations to develop their skills for personal and economic growth.
- Backed by a Royal Charter, the City & Guilds Group has over 135 years’ experience in making sure that people are prepared to contribute to successful businesses and thriving economies.
- The City & Guilds Group partners with more than 200 companies to develop the skilled workforces that they need, and invests in learning technologies to help people learn whenever and wherever they can.
- The City & Guilds Group is made up of City & Guilds, ILM, City & Guilds Kineo and The Oxford Group:
- oCity & Guilds develops programmes of learning, learning technology, certification and assessment, to support colleges, training providers and governments.
- oILM helps individuals, education providers and businesses improve the standards of leadership and management through qualifications, accredited training and specialist member services. ILM awards qualifications to over 95,000 managers across the world every year.
- oCity & Guilds Kineo is a global workplace learning company. It offers a fresh approach to elearning management systems, apprenticeships and managed learning services.
- oThe Oxford Group provides bespoke management training, leadership development and executive coaching to the world's leading companies.
- Combined, the City & Guilds Group operates in over 100 countries, through 10,000 training centres, delivering qualifications in 26 different industries.
- For more information about the City & Guilds Group visit: www.cityandguildsgroup.com
- The £2.5m New Venture fund will provide funding for post-revenue businesses and entrepreneurs in the education and training sector in return for equity stake in the companies.
- Recipients will also benefit from the City & Guilds Group expertise and resources, helping to develop of their ideas and propel the growth of their businesses
- Credly is a leading digital credential service provider, helping the world recognize lifelong achievement with the most popular platforms for issuing, sharing and managing digital credentials and badges.
- The enterprise-class system allows organizations to officially promote skills and competencies; issue and distribute portable and secure digital credentials and open badges; and gain actionable data and insights.
- Thousands of education institutions, industry associations, employers and workforce development programs use Credly to make achievements visible. Learn more at credly.com.