Århus C, Denmark
LMS 365 is a Copenhagen-based learning management and human success platform built natively inside Microsoft Teams and the broader Microsoft 365 ecosystem. Founded in 2003 as a side project by a Danish dentist, the company spent roughly 15 years as a SharePoint consulting business before a 2016 rebuild for Azure and Teams set it on a SaaS trajectory. It crossed $1 million in annual recurring revenue in 2018 and $10 million in 2021. Under CEO Rasmus Holst, who joined approximately two years before the April 2024 interview, LMS 365 grew from $18 million ARR in early 2023 to approximately $30 million by year-end 2023, representing roughly 50 percent year-over-year growth. The company closed a $20 million Series A with Blue Cloud Ventures in 2023 at a valuation of approximately $100 million, keeping the full raise on the balance sheet with no secondary component. The company serves approximately 2,000 paying customers across manufacturing, logistics, healthcare, financial services, and other Microsoft-heavy industries, with an average contract value of $15,000 per year and an average seat count of 300 to 400 per customer. Net revenue retention reached 108 percent in 2023, up 7 percentage points year over year. LMS 365 targets $40 million ARR by the end of 2024 and is expanding its platform through the late-2023 acquisition of engagement and performance tool Weekly10 for approximately 4.5 million euros.
- Revenue
- $40M
- Customers
- 2K
- Year founded
- 2003
- Funding
- $20M
- Team size
- 200
- Growth
- 50%