Talespin Raises $15 Million in Series B Funding for XR Training Solutions

Farmers Group is among the investors and clients of the Extended Reality (XR)-based training technology vendor, whose total funding now stands at $20 million.

(Image source: Talespin homepage.)

Talespin, a Los Angeles-based spatial computing company focused on workforce knowledge transfer and skill alignment in the insurance, telecommunications, technology, and healthcare industries, announced that it has raised $15 million in Series B funding. The funding round was led by Cornerstone OnDemand (Santa Monica, Calif.), a provider of cloud-based learning, talent management and talent experience software. Cornerstone also announced an ongoing partnership with Talespin, to deliver Talespin’s extended reality (XR) training solutions to customers. HTC (Taiwan) also joined the round as a new investor, with participation from existing investors, including Farmers Insurance Exchange (Los Angeles).

Kyle Jackson, CEO and Co-Founder of Talespin.

Talespin addresses challenges associated with companies needing to reskill their workforces while transforming to keep pace with rapidly changing technology, evolving workforce expectations, and growing talent gaps. Talespin says it helps companies to systematically transition their workforces toward a new, skills-based economy with spatial computing. Talespin’s Runway reports that its platform accelerates knowledge transfer for soft and hard skills, and offers advanced skills data to enable purpose-driven career decisions for employees, and better talent decisions for organizations.

Talespin/Cornerstone Partnership

In addition to leading the Series B funding round, Cornerstone is partnering with Talespin to develop technology and products to up-level HR and L&D practices. Talespin’s VR learning content will be made available to customers through Cornerstone’s product offerings. Talespin’s Runway platform will also be integrated with Cornerstone’s Learning Management System to power XR training deployment and skills matching analytics at scale.

“We share Talespin’s vision that the workforce needs innovative solutions to stay competitive, maximize opportunity and increase employee satisfaction,” comments Jason Gold, VP, Finance, Corporate Development and Investor Relations, Cornerstone. “We’ve been incredibly impressed with Talespin’s technology, leadership team and vision to transform the workplace through XR. Talespin’s technology is a perfect fit in our suite of products, and we look forward to working together to deliver great solutions for our customers.”

Talespin reports that its technology is used by companies across the insurance, telecommunications, technology, and healthcare industries, primarily in the Fortune 500. One of Talespin’s early customers, Farmers Insurance, also invested in Talespin.

Scott Lindquist, CFO Farmers Group, Inc,

“Farmers’ work with Talespin continues to deliver innovative technology to help empower our employees to provide a high level of customer service,” comments Scott Lindquist, CFO Farmers Group, Inc, the attorney-in-fact of Farmers Insurance Exchange. “Their immersive VR and AR platforms have helped us reshape the way we look at training Farmers Insurance Claims Adjusters and we’re excited to continue to support the Talespin team through this next phase of growth and development.”

Total Funding of $20 Million

This new funding brings Talespin’s total funding raised to $20 million. The company will use these new financing investments to continue to power its talent development platform, Runway, as well as to expand research and development and to continue growing its VR learning content library.

“Creating better alignment between skills and opportunities is the key to solving the reskilling challenges organizations across the world are facing,” comments Kyle Jackson, CEO and Co-Founder of Talespin. “That’s why it’s critical that companies find a way to provide accelerated, continuous learning and create better skills data. By doing so, we will open up career pathways for individuals that are better aligned to their natural abilities and learned skills, and enable companies to implement a skills-based approach to talent development, assessment, and placement. Our new funding and partnership with Cornerstone will allow us to expand our product offerings to achieve these goals, and to continue building innovative solutions that redefine what work looks like in the future.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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