For Immediate Release
Wellington, New Zealand, June 16, 2020 – Totara today announced that its owners have entered into a purchase agreement with Sydney private equity firm Five V Capital, under which Five V will acquire a majority ownership interest in Totara. The operations and management of Totara will remain unchanged with Richard Wyles continuing as Chief Executive Officer.
Since 2011, Totara has remained focused on helping organizations experience the freedom to innovate and adapt to changing circumstances through its open and flexible HR and Learning & Development software.
Today’s rapidly evolving workplace and the strategic imperative of having engaged and well-trained employees, further accelerated by COVID-19, has prompted corporations and organizations to adapt new working practices. Totara’s products – used by over 1,800 organizations like USDA, Indeed, Pepsi, Red Hat, JetBlue, Yamaha, and more – is well-positioned to meet this growing market.
“I am excited to welcome Five V Capital in Totara’s mission to drive a new era of innovation, workplace performance and productivity,” said Wyles. “Five V’s collaborative and growth-oriented approach will accelerate our efforts to build Totara’s presence in new and existing markets – at a time when the demand for remote workforce technologies is growing exponentially.”
Wyles said: “Totara’s enterprise-ready learning management system (LMS), user-centric learning experience platform (LXP), and comprehensive performance management system – which will be released in October 2020 as the Totara Talent Experience Platform – is a formidable challenger and strategic alternative to often over-priced and inflexible HCM systems. We’re here to shake things up for the better and it’s great to have experienced and aligned partners in Five V.”
“We are excited to be part of Totara’s future and to be partnering with Richard and his team,” said Srdjan Dangubic, Partner at Five V Capital. “Totara is a globally ambitious business with enormous potential. We look forward to supporting Totara’s international expansion plans to disrupt the global HR and talent experience markets,” Wyles said.
Vista Point Advisors, a San Francisco-based boutique investment bank, acted as the exclusive financial advisor to Totara.
Totara builds employee engagement, learning, and performance management technologies that enable large multinational corporations, government entities, and mid-market companies to deliver enterprise-level talent and workforce experiences. Totara’s Talent Experience Platform (TXP) unifies an industry-leading learning management system (LMS), a user-centric learning experience platform (LXP), and a comprehensive performance management system under a single and highly adaptable architecture. Totara’s TXP and flexible architecture gives organizations the freedom to innovate, the freedom to choose, and unlocks critical resources for reinvestment into where it really counts. https://www.totaralearning.com/
About Five V
Five V Capital is a growth-focused private equity fund based in Sydney, Australia. Five V has in excess of A$450 million of capital available to partner with leading founders and businesses in Australia and New Zealand. With a focus on B2B and technology-enabled services, Five V’s current portfolio includes Education Perfect, Probe Group, Universal Store, Zenith Investment Partners, RateSetter Australia, Canva and SiteMinder. More information is available at www.fivevcapital.com/