Subject: FNC
Emmersion Raises $5.5 Million in an Early-stage Round of Funding Led by Sepio Capital
LEHI, Utah, April 1, 2021 /PRNewswire-PRWeb/ -- SILICON SLOPES?Emmersion, the leader in automated language assessments, announced last week that it has closed an early-stage, $5.5 million round of funding. The round was led by Sepio Capital with participation from Next Frontier Capital, Jeremy Andrus, and Tamarak.
"We led this financing not only because Emmersion can become the category leader in the $7.5 billion language assessment market, but also because they can help billions of language-learners demonstrate their skills and change their lives through better employment and education opportunities," said Mitch Rencher, director at Sepio Capital. "No other product can offer a similarly automated, accurate, and affordable alternative."
"Next Frontier Capital is thrilled to become an investor in Emmersion," said Will Price, founder and general partner at Next Frontier Capital. "We were attracted by the strength of the management team, customer base, and AI-enabled language assessment tools that are disrupting a massive market. Emmersion's automated solutions are driving powerful ROI and efficiencies as customers look to replace manual, time-consuming language assessments with Emmersion's automated and highly accurate language tests."
The funding round comes shortly after Emmersion launched its one-of-a-kind, fully automated, and fully adaptive language assessment engine. With this round, Emmersion will double efforts for expanding product capabilities and growing the team that will continue to take its solution to market.
"We are coming into this round with some incredible momentum," said Brigham Tomco, chief executive officer and cofounder at Emmersion. "We are excited to partner with our investors to continue delivering the best language assessment platform in the industry, add new languages to the portfolio, and continue development of specialized offerings for employee screening, academic progress, and certification."
About Emmersion
Founded in 2015, Emmersion is a rapidly growing EdTech company located on the Silicon Slopes of Lehi, Utah. With a mission to close the global communication gap, Emmersion provides automated language assessments to global companies and academic institutions. With over 700 customers around the world, including Global 100, the world's largest contact centers, and renowned universities, Emmersion's solution uses cloud-based, AI technology to automate the language assessment process and provide the most accurate results. The tests save organizations hours of human and financial resources by replacing a traditionally human-lead process. The results, which are more accurate and immediate than traditional methods, help organizations make better hiring decisions where language is a key factor of success, or more accurately place students in language programs. Learn more at http://www.Emmersion.ai.
Media Contact
Alec Gallego, Emmersion, +1 8014710883, [email protected]
SOURCE Emmersion
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