Investible welcomes Next World into its portfolio, investing in their latest round alongside Odyssey, Artiel Ventures and existing shareholders.
E-Learning is simply not engaging to learners, with only 10% of learned knowledge retained after 2 weeks, leading to 60% of workplace accidents being attributed to inadequate training. Exacerbated by the pandemic, businesses are continuing to rely on e-Learning and traditional LMS platforms for important compliance, safety, and onboarding training.
Founded by Michael O’Reilly and Zach Hegde, Next World creates immersive workplace learning experiences that have supported safer workplaces, increased personnel retention and engagement, as well as improving cost-effectiveness and productivity.
Modernising Workplace Learning
The future of workplace learning is more than just adopting a digital platform for training in the hybrid world. Next World is shaking things up in workplace learning with its virtual reality (VR) content and learning management system (LMS) that will initially focus on occupational health and safety for medium to high-risk industries, before it enters broader content and industry sectors. Whilst VR training is not a new concept, Next World has seen significant early market penetration and has already sold their SaaS model into 16 countries and to some of the world’s largest companies/brands.
Continually engineered to yield deep insights
Next World aims to prevent workers from injury by properly equipping workers with the learning content and training platform to up-skill themselves. In the learning library, businesses have unlimited access to custom VR learning experiences. Hundreds of data points are captured from these experiences and reflected in the LMS, providing unique insights and predictive analytics that materially improves eLearning experiences and outcomes — including situational awareness, learning productivity, hazard awareness and risk tolerance. The LMS allows trainers and L&D professionals to easily identify knowledge gaps and trends across their organisation and deploy scheduled training with ease.
It didn’t take long for the top companies in Australia and Fortune 500 companies to be convinced of Next World’s capabilities. NEOM, Mercedes Benz, Komatsu, Newcrest Mining, Caterpillar, QUBE, BP, Fortescue and multiple municipalities are some of their early customers. These customers represent a massive ‘land and expand’ opportunity both in Australia and onboard, with early examples of existing customer growth.
Led by an experienced founder
Next World is not Michael O’Reilly’s first company, having founded Harness Group and scaling the business from inception to one of Australia’s largest labour hire and training businesses, turning over A$20m per annum. With close to two decades of experience in hiring and training, and with a background in behavioural science, Michael understands the importance of good and reliable training in workplaces.
We look forward to supporting Michael and the Next World team as he seeks to build a globally scalable, future-forward training ecosystem.
The Investible group of companies includes various entities who are corporate authorised representatives (CAR) of Boutique Capital Pty Ltd (BCPL) AFSL 508011. The full list of entities are detailed here.
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