AppLearn, a rapidly growing tech scale-up, has achieved record growth in the first half of its financial year, covering January through June. The business recorded revenue growth of 138% when compared to the same period last year.
The Manchester-headquartered business has also recorded a 240% increase in deals secured with new and existing customers – securing more in Q2 alone than the entirety of FY21. In 2022 so far, it has also onboarded major brands including shipping conglomerate Stena Line, joining existing customers such as Nissan and EY.
Quickly consolidating its position within the digital adoption platform (DAP) market, valued at £13bn in 2022, AppLearn’s growth comes off the back of an impressive start to the year. In January, it secured 8-figure funding from Silicon Valley Bank (SVB), and NPIF – Maven Equity Finance, managed by Maven Capital Partners (Maven) and part of the Northern Powerhouse Investment Fund (NPIF).
It has enabled the business to grow its team by 11%, and as it continues to actively recruit, the business has secured listings in the Best Companies ‘Outstanding Place to Work’ and ‘Top 15 Tech Company’ in the UK.
In February, AppLearn completed a major acquisition of a Slovakia-based DAP provider YesElf. The move enabled the business to triple its development capacity and take onboard a Bratislava-based office – joining its Boston, San Francisco and Manchester locations. It also has seen AppLearn climb the ranks as a major contender in the 2022 Everest PEAK Matrix, an analysis of the global DAP vendor market.
AppLearn CEO Andrew Avanessian shared: “The scale of digital transformation in recent years has created the ideal conditions for the DAP market to grow, given the platform’s ability to help organisations unlock value from their software and applications investments.
“With this market opportunity front of mind, we started the year with a real focus on having the foundations in place to grow at pace: securing the right funding, investing in our people and building a best-in-class product. As a result, we’ve achieved our best year to date, only six months into our financial year. In fact, we’ve accumulated more revenue in the last quarter alone than the entirety of last year. Sales have accelerated, we’ve been able to attract and retain some of the best talent in the region, triple our development capacity and are now working with some of the most prolific global brands.
“We’ve firmly cemented our position in Manchester’s thriving tech scene, and our focus now is on ramping up our international ambitions, whether it’s through the customers we work with or expanding our physical presence outside of the UK. With momentum growing, we’re in a prime position to build upon this for the remainder of 2022 and beyond.”
