Seattle, WA – July 28, 2006
Intrepid Learning Solutions, a leading provider of training services, announced today that it has closed an $11.7 million funding round. The equity financing was led by FTVentures, a private equity firm focused on software and business services, with strong support from existing investors. Intrepid will use the new funding to continue to build its training services business, expanding its innovative, bottom-line focused learning solutions.
Intrepid’s strong organic growth will be advanced by this new funding, supporting company goals to expand market presence geographically and enhance capabilities. Intrepid has experienced impressive growth over the last few years, partnering with clients who seek innovative training solutions to help achieve business goals and drive measurable outcomes.
“We are very excited about this investment as it demonstrates FTVentures’ confidence in Intrepid,” said Intrepid CEO Chris Hedrick. “This is one of the most significant investments the learning industry has seen in recent years, and will enable Intrepid to grow rapidly and provide high quality, innovative services to new and existing clients.”
Intrepid has developed long-term, multi-year relationships with leading companies such as Boeing, Microsoft, Autodesk, and the American Society for Training and Development to develop training solutions that deliver quantifiable results. Intrepid’s outsourcing services include: learning strategy and analysis; curriculum design and development; instructor-led training delivery; vendor management; technology administration; and training evaluation, measurement, and reporting.
“Intrepid has emerged as a significant end-to-end training solutions provider in an industry in need of sustainable quality and leadership,” said Eric Byunn, FTVentures Principal. “The combination of the company’s deep domain expertise and its flexible, innovative methodologies has resulted in relationships with blue chip clients such as Microsoft, Boeing, Starbucks, Autodesk, Adobe, and Wells Fargo and has earned Intrepid a reputation as a trusted, top quality provider of learning solutions that deliver measurable business results.”
Intrepid also announced the addition of Eric Byunn to the Intrepid Board of Directors. Byunn’s breadth of experience includes management roles with myCFO, America Online, Netscape, Microsoft, and McKinsey & Company.
About FTVentures
FTVentures provides capital to growth companies to finance organic expansion, recapitalizations, build-ups and buyouts. The firm invests in software and business services companies that derive value from its unmatched Global Partner Network, which includes 38 of the world’s leading financial institutions. FTVentures’ Global Partner Network provides the firm with a unique vantage point into the business driven IT and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has $624 million under management with offices in San Francisco and New York. For more information, please visit www.ftventures.com.
About Intrepid Learning Solutions
Intrepid Learning Solutions is a leading provider of training consulting, outsourcing, and research services to global companies. With industry-leading expertise in training management, business process outsourcing, learning research and consulting and a focus on business results, Intrepid delivers optimum value for its clients’ training budgets.
