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Torch raises $25 million in Series B funding

February 25, 2021 Featured

Early in 2020, we announced an exciting merger with Everwise, which added digital learning and mentoring capabilities to Torch’s existing coaching platform. This move signaled our company’s continued commitment to creating the most comprehensive leadership learning and development (L&D) platform on the market.

Now, in 2021, we’re thrilled to share that we’re continuing to take steps in the right direction with our $25 million in Series B financing, led by Obvious Ventures. This latest round brings Torch’s total financing to nearly $40 million and puts our company in the same portfolio as other category-defining brands like Beyond Meat, Diamond Foundry, Gusto, and Virta Health. 

“We couldn’t be happier about Obvious. Their world-positive message aligns perfectly with our mission to help employees become more effective, self-aware leaders. When it comes to mission-driven VCs, Obvious walks their talk. It’s an honor to be part of a portfolio of companies that are literally making the world a cleaner and more equitable place,” says Torch CEO and Co-Founder, Cameron Yarbrough.

How our Series B funding takes our platform to the next level

At Torch, we recognize the increasing amount of pressure that’s being put on L&D professionals to retain top talent. These leaders not only have to coordinate various types of programs but also make sure they’re meeting the individual learning needs of each employee. 

At Torch, our priority has always been to serve these L&D leaders and their workforce by consolidating all of the necessary functionality into a single platform. With our offering, L&D professionals can seamlessly manage their entire learning stack while also measuring the ROI of their efforts. 

With our latest round of capital, our team will continue to invest in our integrated platform to help leaders deliver, manage, and measure employee growth at scale. We’ll also be using this investment to ramp up our go-to-market operations as we expand to serve enterprises, as well as our existing clients, which includes high-growth companies like LinkedIn, Reddit, Twitch, Zendesk, Okta, Gilead Sciences, and T-Mobile. 

We’re here to support your learning and development efforts

We’re grateful for the continued support of our community of customers, coaches, and mentors, and we’re especially thrilled to work alongside the team at Obvious Ventures – including Partner Tina Hoang-To, who is also the newest member of our board of directors.

“Obvious is excited to support Torch in its efforts to reimagine the future of work. Torch’s platform is uniquely positioned to support all types of teams – be they distributed, co-located, or hybrid – with a full-stack L&D solution. The most successful companies recognize that people are the key to high-performing, resilient, healthy organizations, and Torch’s rapid expansion within the enterprise segment supports this thesis,” says Hoang-To. 

We hope you’ll continue to follow our efforts to support the L&D needs of as many organizations as possible. To learn more about our journey to Series B funding, check out this exclusive article from Business Insider. Or, if you’re not a Torch customer yet but are curious to learn more, feel free to reach out – we’d love to hear from you.