Degreed Raises $32M | Spiff Raises $10M | Prenda Highlighted by CNN | Whistic Raises $12M | Dotter & Mayfield on 40 Under 40 List | Alumni Spotlight

Fund I

Degreed Raises $32M

Degreed, the learning platform for individuals and organizations to build skills and obtain certifications, announced it raised a $32M round led by Owl Ventures. This financing fuels the company’s career mobility product which allows users to identify skill gaps in their pursuit of greater work opportunities. The skill profile will also let individuals see relevant jobs, one-off projects or tasks. As the recession is forcing companies to get smarter about the way they grow, Degreed helps them stay lean by facilitating constant learning and flexibility. Thrilled for David BlakeChris McCarthyEric Sharp and the whole Degreed team!

Fund II

Spiff Raises $10M Series A

Spiff, whose software provides sales reps at big-name clients such as Workfront, Algolia and the publicly-traded Qualys with personalized, real-time commission portals, recently announced a $10M round of funding led by Norwest. With 85% of companies still calculating sales commissions manually in Google Sheets or Excel, there’s a lot to be excited about as Spiff transforms the way people think about sales compensation and provides sales teams with a deeper level of visibility into their commissions. Major props to Jeron PaulMatt StapletonJean-Philippe MaitreMichael RiesTanner LaceyAlbert Candari & the entire Spiff team!

Prenda & its Microschool Model Highlighted on CNN

Prenda’s platform for personalized learning through microschools at home, office or studio, has experienced significant growth during the pandemic as demand for safe, effective learning has increased. CNN recently highlighted how the company saw its website traffic skyrocket to 737% this June over the same month last year, and the article was featured on CNN’s homepage. We’re excited for Kelly Smith and the Prenda team as they play a significant role in boosting the quality and safety of childrens’ education.

Fund III

Whistic Raises $12M Series A

Whistic, a vendor security management platform for both buyers and sellers, recently announced a $12M Series A round led by Emergence Capital with participation from Album and existing investors. The Utah-based company focuses on proactive vendor security, enabling customers that store or process sensitive data to conduct and respond to vendor security reviews, as well as respond to buyers’ requests for security compliance information. Many of the brands using the platform include Okta, Airbnb, Betterment, Qualtrics and Finicity. Whistic has enabled customers like these to take the process of reviewing security questionnaires—one that normally took 12 weeks—and shrink it down to two weeks. In addition, instead of it taking six hours a day for each vendor, it could be done in as little as 20 minutes. The company will be using the funds from this round to build out its product and sales & marketing teams, as well as strengthening its platform. We’re proud to back Nick SorensenJuan Rodriguez and the rest of the Whistic team!

Other News

James Dotter & John Mayfield on 40 Under 40 List

BusinessQ Magazine recently recognized James Dotter, the CFO of MX, and our own John Mayfield, on its list of forty people under forty to watch for in Utah. The honorees were chosen for their excellence in business and contributions to the community. Congrats!

Alumni Spotlight: Pablo Diaz

BYU recently highlighted one of our former interns, Pablo Diaz, in their newsletter and social media on July 4 in celebration of our country, built by immigrants and innovators. Pablo needed to find a way to earn enough money in order to come to the U.S. to study. He noticed foreigners in his hometown of Argentina weren’t receiving packages as traditional shipping was expensive, slow, and unpredictable. Pablo then created a better way to ship by leveraging travelers' luggage capacity. Inexperience, insecurity and plenty of naysayers did not deter Pablo, and his business is still thriving today. He now ships packages across Argentina, Brazil, and Mexico with the ultimate vision to be globally ubiquitous. We’re excited for Pablo and all our alumni doing amazing things!

-The Album Team