BenchPrep Doubles Annual Recurring Revenue in 2019, Expands Employee Base By 70 Percent
CHICAGO, Jan. 29, 2020 (GLOBE NEWSWIRE) -- BenchPrep, the provider of the configurable cloud-based learning platform for corporations, training organizations and nonprofits, today announced that it has achieved significant growth year-over-year, doubling Annual Recurring Revenue (ARR) and increasing employee headcount by 70 percent. The number of learners on the cloud-based learning platform reached 6 million in 2019, up 30 percent versus the prior year.
In 2019, BenchPrep also welcomed several high-profile new customers into its portfolio, most notably Relias, American Board of Emergency Medicine, and American Bankers Association, among others. In addition to new relationships, BenchPrep has enabled several existing customers with new products including key customers like CFA Institute, Richardson, and AAMC.
To support its continued growth for 2020 and beyond, BenchPrep made six executive-level hires to fill out its leadership team, including a CFO and Vice Presidents of Learning Design & Strategy, Product, Marketing, Sales, and Customer Success.
“The learning world is changing fast and we are honored to be paving the way. We have had an outstanding year and are excited about substantial growth opportunities,” said Ashish Rangnekar, co-founder and CEO, BenchPrep. “Our differentiated approach to creating high impact learning programs for our customers and focus on innovation continue to set us apart in the industry. With our leadership team now in place, we are well-positioned to execute our growth strategy.”
BenchPrep received numerous industry awards in 2019, recognizing both its learning platform and company culture, including:
-- 2019 Training Industry Top 20™ Training Delivery Company -- 2019 Talented Learning Awards: Best Learning System -- 2019 Training Magazine Network Choice Awards - Learning Portal/LMS -- 2019 SIIA CODiE Awards finalist for Best Corporate/Enterprise Learning Solution -- 2019 Growjo - #9 Fastest Growing Learning Company -- 2019 Crain’s Chicago Business 2019 Best Places to Work in Chicago -- 2019 Timmy Awards finalist for Best Tech Work Culture -- Built in Chicago’s 50 Best Small Companies to Work For in Chicago 2019
BenchPrep’s award-winning advanced online learning platform helps education and training organizations increase learner engagement, improve outcomes, and drive additional revenue. The technology delivers streamlined content management and instructional design, along with advanced educator tools, analytics dashboards, and reporting, in one comprehensive solution.
BenchPrep is actively looking to continue expanding its team. For a full list of employment opportunities, visit https://www.builtinchicago.org/company/benchprep/jobs.
About BenchPrep BenchPrep is a configurable cloud-based learning platform that delivers the best learning experience and drives revenue for corporations, training companies and nonprofits (credentialing bodies & associations). With an award-winning learner-centric platform, BenchPrep increases learner engagement, improves long-term learner retention, and reduces dropout rates. Many of the largest credentialing bodies, associations, and training organizations in the world now deliver learning programs through BenchPrep, including ACT, Association of American Medical Colleges (AAMC), CFA Institute, CompTIA, Graduate Management Admission Council (GMAC), Hewlett Packard Enterprise, HR Certification Institute, Richardson Sales Training, Association for Supply Chain Management (ASCM), American Institute of Architects (AIA), Relias, National Conference of Bar Examiners (NCBE), ProLiteracy, Hobsons, McGraw Hill Education, and OnCourse Learning. More than 6 million learners have used BenchPrep’s platform to attain academic and professional success. To discover more about BenchPrep, please visit benchprep.com.
Media Contact:Jon AdersonDirector of MarketingBenchPrep312-650-5135 firstname.lastname@example.org
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df7b332c-2d40-4581-86d2-c3e322ace132