5Mins AI raises £5m for TikTok-style upskilling platform
Digital upskilling platform 5Mins AI has raised $5.7m (£5m) in a seed round for its social media-inspired staff education technology.
Founded in 2021, 5Mins AI is a platform that hosts employee training content that staff can engage with in a similar fashion to social media content. The platform stylistically borrows heavily from the app TikTok, with scrolling videos shown with a personalised algorithm.
The company claims that workers are more likely to engage with and complete courses if they are presented in a way that mimics video consumption for entertainment purposes.
“Our mission is to help companies build a learning culture so their people can unlock their true potential and we have come a long way in a short period of time,” said 5Mins co-founder and CEO, Saurav Chopra.
“We are building the first global learning super app that companies of all sizes can use to upskill everyone, improve employee retention and drive innovation.”
The seed funding round was led by AlbionVC and featured participation from Chalfen Ventures, Portfolio Ventures, Blue Lion Global, and Edenred Capital Partners.
“5Mins sits at the crossroads of two massive shifts: employee engagement on one side and ‘TikTokisation’ of everything on the other,” said Nadine Torbey, investment director at AlbionVC.
“The impressive commercial momentum and next-level user engagement the company has been experiencing in a short amount of time is testament that the market is craving for more personalised, engaging learning tools.”