Avanoo

Last updated
Avanoo
Founded September 1, 2013;4 years ago (2013-09-01)
Area served Global
President Prosper Nwankpa
CEO Daniel Jacobs
Industry learning technology
Website www.avanoo.com

Avanoo is a Boulder, Colorado and San Francisco, California-based learning company delivering video-based training to improve employee performance. [1]

Boulder, Colorado Home rule municipality in Colorado, United States

Boulder is the home rule municipality that is the county seat and the most populous municipality of Boulder County, Colorado, United States. It is the state's 11th most populous municipality; Boulder is located at the base of the foothills of the Rocky Mountains at an elevation of 5,430 feet (1,655 m) above sea level. The city is 25 miles (40 km) northwest of Denver.

Contents

History

Avanoo was founded in September, 2013 by co-founders Daniel Jacobs and Prosper Nwankpa. [2] Avanoo partners with around 200 experts and speakers to develop online video learning Programs on leaders, thriving through change, life balance, team building, marketing, and many other areas of personal and professional development. [3]

Avanoo was originally called Placebo Effect. [4] Its first product in 2013 was an iPhone app that sought to help people make positive changes with support from placebo research. [5] The product received buzz from worldwide media outlets as part of an IndieGoGo crowdfunding campaign. [6] [7] [8] [9] [10]

Business model

Avanoo provides organizations with a software-as-a-service learning platform delivering 3-minute-a-day learning Programs. Their business focuses on enterprise clients like Kaiser, KPMG, and Toyota. [11] [12] Avanoo’s videos Programs are considered microlearning - small learning units combined with short-term learning activities.

Microlearning deals with relatively small learning units and short-term learning activities. The term is used in e-learning and related fields in the sense of learning processes in mediated environments. Microlearning is a holistic approach for skill based learning and education which deals with relatively small learning units. It involves short-term-focused strategies especially designed for skill based understanding/learning/education. Microlearning refers to micro-perspectives of learning, education, training and skill development. The approaches followed for assessment of microlearning are multidimensional & holistic in nature and need based in particular cases [Patil U.K., 1999] [Patil U.K., 2000]. An ideal instructional approach for many situations especially in higher education for skill development, trainability and employability of learners/students [Patil U.K., 2002]. The technique is capable enough to address challenges associated with slow learners [Patil U.K., 2005]. This learning technique is versatile not only for skill based education but also for sustainable socioeconomic development. Without taking care of micro-perspectives in the context of learning, education, training and skill development, a skill based education cannot be imparted effectively [Patil U.K., 2009].

Investment and growth

From January to May 2015, Avanoo participated in 500 Startups business accelerator Program. As part of the Program, Avanoo received $100k in funding. [13] Within six months, Avanoo grew from earning $2,000 a month selling self-help videos to a company worth $15 million. [14]

On July 8, 2015, Avanoo raised a $3.4 million Series A round of venture capital funding. [15]

References

  1. ↑ "How Avanoo Nailed Their Niche=Aaron Ross, Predictable Revenue" . Retrieved April 2, 2017.
  2. ↑ Ross, Aaron. "From Impossible To Inevitable: How Hyper-Growth Companies Create Predictable Revenue". Google Books. Retrieved April 2, 2017.
  3. ↑ "There Are No Overachievers". Google Books. Retrieved April 2, 2017.
  4. ↑ "Company Page". Crunchbase. Retrieved April 2, 2017.
  5. ↑ "A Placebo Mobile App That Changes Your Life". IndieGoGO. Retrieved April 2, 2017.
  6. ↑ "Harnessing the Power of the Placebo Effect". HuffingtonPost. Retrieved April 2, 2017.
  7. ↑ "This App Will Make You Feel Better". FastCompany. Retrieved April 2, 2017.
  8. ↑ "App Delivers Virtual Placebo To Improve Your Health". Mashable. Retrieved April 2, 2017.
  9. ↑ "Could An App Replicate The Placebo Effect". The Verge. Retrieved April 2, 2017.
  10. ↑ "This App Lets You Create Personalized Placebo Effects To Enhance Your Life". GeekWire. Retrieved April 2, 2017.
  11. ↑ Su, Susan. "Zero to Million Dollar Run Rate — A Story of Growth & Hustle ft. Avanoo" . Retrieved April 2, 2017.
  12. ↑ "Spotlight: Avanoo Trains Employees in Three Minutes a Day". Small Business Trends. Retrieved April 2, 2017.
  13. ↑ "500 Startups Announces Batch 12 in San Francisco". 500 Startups. Retrieved April 2, 2017.
  14. ↑ "Rethinking the Accelerator: What You'll Achieve at 500 Startups". 500 Startups. Retrieved April 2, 2017.
  15. ↑ "Company Profiles". PitchBook. Retrieved April 2, 2017.
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