Edtech Startup Absorb Software Raises $59 Million

Absorb Software announced it has secured $59 million in financing led by Silversmith Capital Partners.

Absorb Software is a learning technology company based in Calgary, Canada, with a subsidiary in Dublin, Ireland. The company’s software is used by a variety of industry verticals, including hospitals, government agencies, technology, manufacturing, retail, and food services. Absorb  takes into consideration the many ways different types of organizations use features or processes. Reporting enhancements, automated business rules, functionality refinements, and the inevitable bug crushing are all part of Absorb’s daily client service commitments.

According to the company, the investment will be used to accelerate development of Absorb’s flagship product, Absorb LMS, which helps learning and development teams train, retain, and manage both internal employees and external stakeholders such as customers, channel partners, franchisees, and membership associations.