Talespin, a spatial computing company focused on workforce knowledge transfer and skills mobility, today announced new funding from the WestRiver Group (WRG). The deal also includes Talespin's strategic acquisition of the 'Pioneer Adaptive Learning Platform' from Singularity Group, and including the addition of new employees and advisors from Singularity.
Turbulent financial markets have caused investment and company growth plans across industries to become more conservative, and the Fortune 500 and Wall Street are bracing for a potential inflation-driven economic downturn. One exception that continues to see significant investment, despite these conditions, is the Metaverse – a segment of the Web 3.0 technology market predicted to be worth $800 billion by 2024. In particular, education and workforce skills development are two growing use cases among the burgeoning Metaverse technology space, with companies like Meta, Microsoft, and Cisco investing in technology designed to enable immersive learning. The Metaverse is becoming a C-Suite priority, as companies look to shore up their talent gaps, and leverage it to optimize their operations.
Talespin is a beneficiary of this increasing demand, with WestRiver Group (WRG) joining its growing list of investors, including SEEK Investments, Cornerstone, Pearson, Accenture, and Go1 – illustrating the collective interest in the Metaverse from global leaders in learning, workforce transformation, and human-capital investment.
The new funding deal will see WRG Founder and Chief Executive Officer Erik Anderson join Talespin's board of directors. Anderson, a global innovation, investment and philanthropist leader, currently serves as Vice Chairman of Callaway Golf Company, and is the former Executive Chairman of Topgolf Entertainment Group. Additionally, he is Executive Chairman of the SVB Capital Credit Platform and serves as Chair of the SVB Capital Advisory Committee. He is also the Executive Chairman of Singularity University.
"WestRiver Group is proud to invest in this latest stage of growth for Talespin," said Anderson. "This social impact-driven innovation is the exact type of investment we at WestRiver Group are excited to support."
As part of the deal, Talespin will acquire the Pioneer Adaptive Learning (PAL) platform from Singularity Group, an organization whose mission is to improve humanity by imagining and creating breakthroughs powered by exponential technologies, in which WRG is a shareholder. Developed by a division of Singularity Group called Singularity Labs, the technology enables the development of immersive learning experiences that adapt to the individual needs of learners in real-time. This technology is another example of the trend toward more personalized, flexible learning solutions designed to address global skilling needs. As a component of the acquisition, Managing Director of Singularity Labs David Gailey will join Talespin as Director of Strategic Insights. Singularity Labs' President Kyle Nel and Beth Haggerty, Singularity Group Advisor: Strategic Partnerships, will both become advisors to Talespin.
"Our new funding from WestRiver Group, technology acquisition, and relationship with Singularity are exciting steps forward in our mission to build an ecosystem-supporting immersive learning platform," said Kyle Jackson, Talespin Chief Executive Officer and Co-Founder. "We look forward to sharing more information soon about how this technology and upcoming commercial partnerships will further proliferate immersive learning, and better serve our customers."
Talespin's new funding and technology investment come as the latest news in a phase of growth for the company, having announced a Series C fundraise in March, 2022, established a commercial relationship with Accenture through its Project Spotlight program, and launched the Talespin Partner Program.
About Talespin
Talespin is building the spatial computing platform to power talent development and skills mobility for the future of work. Founded in 2015, the company leverages its proprietary platform to offer enterprise customers, partners, and individuals an end-to-end solution for creating, distributing, and measuring the impact of immersive learning content. Talespin is building a future of work where the distance between learning and execution is collapsed, enabling people to explore unique career paths that meet the needs of both businesses and individuals.
Talespin's investors include SEEK Investments, Cornerstone, Allomer Capital, WestRiver Group, Pearson Ventures, Accenture Ventures, Go1, Sony Innovation Fund, and HTC. Learn more at talespin.com.
About WestRiver Group
WestRiver Group is a thematically-driven investment platform that manages funds and builds companies in the global innovation economy. Backed by some of the world's most impactful investors, we direct capital to purpose-driven companies leveraging innovation to improve society. We employ modern investment, leadership, and socially responsible principles to create long term value for all our stakeholders.
About Singularity Group
Singularity Group is a global impact organization that looks into the future to better understand how technology will shape businesses and communities in pursuit of its grand mission to impact a billion people over the next five years. For over a decade, Singularity has worked with transformative leaders — entrepreneurs, corporations, nonprofits, governments, investors, and academics — to leverage the power of exponential technologies to make a positive impact at planetary scale. With 250,000 impact innovators across the Singularity network, 150 partners across six continents and a strong digital presence, Singularity Group reaches millions of people each month. The organization has launched over 5,000 social impact initiatives, with more than 60 startups with a combined valuation of $1 billion. For more information, visit https://su.org/.