Interplay Learning gains capital from Goldman Sachs Alternatives and acquires Industrial Training International
This week, immersive skilled trades training solutions provider Interplay Learning announced a new capital investment from Goldman Sachs Alternatives to scale its training solutions to new clients in the enterprise marketplace. As part of the investment, Richard Waitumbi, Managing Director at Goldman Sachs, will also join Interplay Learning’s Board of Directors.
Greg Shell, Partner and Head of Inclusive Growth Strategy within Sustainable Investing at Goldman Sachs Alternatives, added:
We believe Interplay represents that investment thesis and our investment will aid it in its mission to be the formidable global leader in its space. Companies worldwide have tremendous challenges in hiring and retaining skilled talent, and education systems are slow to meet this need. Interplay Learning, with its leading AI and immersive technology, enables companies to control their trade skills development destiny and powers education partners to prepare the global workforce’s next generation of skilled workers.
Moreover, Interplay Learning acquired Industrial Training International in the scaling effort, which brings a broader range of targeted immersive learning solutions, such as training services for crane and rigging procedures, to Interplay’s extensive course catalogue.
Building “Better Careers and Better Lives”
Doug Donovan, Interplay CEO, said that “both Interplay and ITI have the same mission to build better careers and better lives for the workers who construct, repair and maintain the essential systems of the world.”
Interplay Learning aims to address a growing skilled labour shortage using immersive tools.
“We believe that every skilled worker deserves unlimited social mobility and learning experiences,” said Donovan, who added, “Every organization should have confidence in the preparedness, competencies, and value drivers of their skilled workforce.”
Interplay Learning’s VR training service leverages roughly 500 hours of AI-integrated 3D training that leads to industry-recognized certifications.
Donovan concluded, “By joining forces and with the support of our investment partner, Goldman Sachs Alternatives, we can accelerate that vision and deliver a cross-industry platform that supports these workers throughout their career journey and drives positive business outcomes for the companies that depend on them.”
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