In the age of the gig economy and remote work, keeping employees in the loop about operating procedures is paramount.
That’s why Chris Ronzio created Trainual, what he calls an “insurance policy to collect what your company knows.”
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The Scottsdale, Ariz.-based startup raised $6.75 million for its Series A round, led by 4490 Ventures and MATH Venture Partners. Ronzio started his first company, a video production business for youth sporting events, when he was 14 years old. The company would hire camera operators to attend sports tournaments and have to train them on procedures, so Ronzio learned how to develop operating protocols.
After selling the business and going into consulting, Ronzio realized how many companies needed a way to standardize their operating procedures.
“I wanted to build a tool that companies could use for their playbook,” he said. “To capture the knowledge in the business and help disseminate that knowledge.”
With Trainual’s software, companies can onboard employees and essentially create a “how to” manual for their business, something that’s becoming more needed as more employees work remotely, according to 4490 Ventures managing director Greg Robinson.
“We think it’s a really interesting market that they’re going after but it also fits with some really big macro trends that we think are going to last over the next 10 to 20 years,” Robinson said in an interview with Crunchbase News.
4490 Ventures focuses on investing in “underserved markets” and Trainual marks its first investment in the Phoenix metro area.
The new funding will be used to charge Trainual’s growth. The company currently has 24 employees and plans on hiring 30 more over the next year.
Trainual had 500 percent growth last year, Ronzio said, going from finishing 2018 with $50,000 in monthly recurring revenue to $300,000 in monthly recurring revenue now.
The company was founded in January 2018 and has nearly 3,000 companies from more than 100 countries on its platform so far.
Illustration Credit: Li-Anne Dias