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Leading sales enablement and coaching platform provider to aggressively accelerate sales, marketing, and execution of product roadmap
Rehearsal, the leading video-based sales enablement and coaching platform, announced today that it has completed a $2 million round in funding from Cypress Growth Capital. The funding will be used to aggressively expand its global sales and marketing efforts as well as broaden and accelerate product development.
“Rehearsal’s offering is well-timed with the rapidly increasing demand for solutions that extend far beyond the reach of traditional learning management systems. The path forward is clear and we know precisely which levers to pull in order to supercharge our growth into 2019 and beyond,” said Darik Volpa, founder of Rehearsal.
“Rehearsal offers a high-ROI and practical solution for a host of training needs, especially sales training and enablement,” said Vik Thapar, Partner with Cypress Growth Capital. “Results are tangible and measurable. It’s a modern tool that fosters sales performance, collaboration and motivation.”
This financing round builds on an exceptional year for Rehearsal which saw a rapidly growing roster of clients, key executive appointments, and market momentum in the white-hot areas of training and development.
2018 Rehearsal Highlights to Date:
Launched in 2015, Rehearsal has amassed a broad and diverse customer base that is comprised of both start-ups and some of the largest companies in the world, including 15% of Fortune 100 companies. “The market is flooded with e-learning products that do little to develop skills and change behavior. Rehearsal delivers a truly actionable and scalable solution, leveraging the power of video-based practice and coaching to help businesses drive growth and accelerate success,” said Volpa.
Rehearsal is pleased to announce the addition of Craig Macy to the Executive Team as Chief Product Officer
Rehearsal, provider of best-in-class video-based practice software and services, announced today the addition of Craig Macy as the company's Chief Product Officer. Craig will be responsible for driving Rehearsal's global product vision, and design and development, as well as leading product management, customer success, and overseeing all of engineering at Rehearsal.
“As both an incredible product visionary and a hands-on leader, Craig brings a wealth of experience and knowledge to our team. His arrival is timed perfectly as we begin work on some of the most interesting product developments we’ve ever undertaken, and begin to imagine what the future holds for Rehearsal. He is ideally qualified to drive Rehearsal’s technical and innovation engines, while ensuring that we continue to meet the needs of our customers,” said Darik Volpa, Founder and CEO of Rehearsal.
Macy previously served as Vice President of Products and Customer Care for Agile Software where he had operational and budgetary responsibilities for the $32 million, 175-person development organization. Under his product leadership, Agile grew to over $100 million in revenue, resulting in a successful NASDAQ IPO in 1999, and acquisition by Oracle for $495 million in 2007. He built a career helping companies of all sizes navigate the ever-changing technological landscape, while strategically evolving their product lines. Macy has previously served as Entrepreneur in Residence for Haws Corporation, and most recently as legal counsel and strategic advisor to dozens of emerging growth companies across the Mountain West region.
“What attracted me to Rehearsal is the intelligent, high-energy talent that is transforming deliberate practice into a strategic advantage for the enterprise,” said Macy. “Rehearsal’s video-based practice platform is already achieving impressive results for marquee enterprise customers. Rehearsal is solving the right problem with the right technology at the right time, and the opportunities ahead are immense. I’m looking forward to the challenge.”
Rehearsal to be Recognized as Top Contributor to Northern Nevada's Technological Community at NCET Tech Awards
NCET, Nevada's Center for Entrepreneurship and Technology, announced today that Rehearsal has been selected as the 2018 Software Company of the Year. Rehearsal's recognition in this category is a result of innovative software development, strong global sales growth, and impressive customer adoption from companies like Verizon, Accenture, and Johnson & Johnson.
Rehearsal adds this award to a recent list of accomplishments including recognition by the Brandon Hall Group in the category of Best Unique or Innovative Learning and Development Program: Quarterly Sales & Marketing Training Programs/Universities and was named a recommended sales enablement solution in 2018 by Selling Power Magazine.
Now in its 11th year, the NCET Technology Awards celebrate the Northern Nevada individuals and companies who have greatly enhanced the growth and prestige of technology community, while the EDAWN Awards recognize the people and resources that have played an integral part in contributing to the growth of our community.
The NCET Technology Awards, along with the EDAWN Awards will be held on April 5 at the Atlantis Casino Resort Spa at 5 p.m. Tickets and more information are available online here.
Most significant update to the platform since launch dramatically improves user experience, speed, and increases flexibility for program managers and mentors
Rehearsal today announced the launch of v3 to coincide with ATD TechKnowledge in San Jose, California. This update represents over 12 months of extremely hard work by the development team to build a cutting-edge microservices architecture that is lighting fast and built for massive scale.
“This update is a total reimagining of both the front-end and the back-end. The new assignment paradigm on the front-end will make the system fit more applications for our customers, while the new design on the back-end will provide substantial speed improvements both in terms of load times and roadmap progression,” said Ian Berry-Jewett, Rehearsal VP, Technology.
Rehearsal v3 includes:
“Customer response to v3 has been overwhelmingly positive. Program managers have commented on the flexibility of the new assignment model, deeper insights, and the sheer amount of time they will save running programs. Customers will also see more applications for expanded use across their organization. It is a really exciting time to be collaborating with our customers as the interest in Deliberate Practice continues to grow and Rehearsal continues to evolve”, said Drew Jones, Rehearsal Director Customer Success.
Rehearsal was recognized this week for its work in the area of Sales Enablement/ Sales Readiness. The Brandon Hall Group recognized the winning entry for the 2017 Brandon Hall Group Excellence Awards in the category of Best Unique or Innovative Learning and Development Program: Quarterly Sales & Marketing Training Programs/Universities.
Rehearsal served as a partner with a global software company to help overcome two key obstacles: 1) too much content in too many places and 2) too few opportunities to practice and refresh key messages and information. The resulting solution required learners to take a course on company and product messaging, pass a knowledge check, watch a video on a company or product message, and practice delivering the message to their customers using Rehearsal’s Platform. Rehearsal’s grading functionality for managers was then used to assign a score and give feedback to each student.
The program was deployed to more than 3500 sales and service individuals throughout the company. Many of these individuals were known as “road warriors” due to the amount of time they spent at customer sites. This intensified the need for the program design and delivery to be extremely accessible and for the content and activities available around the clock. By gaining business unit leadership, the company was able to successfully roll out the program as a requirement to all targeted individuals resulting in a 96% completion rate for three straight quarters.
The company has renewed its contract with Rehearsal and will continue to explore ways to better support its Sales Teams with practice. To see the full list of winners, click here.
Selling Power is pleased to announce that it has released the 2018 List of Recommended Sales Enablement Partners. This list was published in the December issue of Selling Power magazine.
This is the first year Selling Power has produced and published this list. Selling Power magazine founder and publisher Gerhard Gschwandtner says the list was created to recognize the powerful interplay between people and technology in the digital era of selling.
"Sales has always been about people, process, and technology," says Gschwandtner, who spoke frequently at Sales 3.0 Conferences this year about the growing number of sales roles being replaced by technology tools. "But, right now, technology is more influential and advanced than we’ve ever seen."
"We created this listing because we believe it’s time to acknowledge that sales enablement is vital to success," he says. "Sales teams absolutely must have the right sales enablement tools in place if they want to remain competitive and win in 2018 and beyond. The List of Recommended Sales Enablement Partners offers a starting point to find solutions that are already offering a high ROI for many sales organizations."
Here are the companies featured on the Selling Power 2018 List of Recommended Sales Enablement Partners:
The List of Recommended Sales Enablement Partners is the fourth major listing to be produced by Selling Power. Selling Power magazine annually publishes the following three listings: The Top 20 Sales Training Companies, 50 Best Companies to Sell For, and the Selling Power 500 Largest Sales Forces in America.
The full list, including company descriptions, can be viewed here.
Easy screen recording works with any desktop browser and opens up new opportunities for Rehearsal's customer base
Rehearsal, the leading video-based practice platform, today announced the addition of screen capture to its suite of practice solutions. Included free of charge with all Rehearsal offerings, screen recording is a platform extension that gives anyone using Rehearsal the ability to create, upload, and share screen recordings in real time. Providing fast, easy, screen recording will help learners practice and communicate more clearly and comprehensively than ever before.
"We are making it easy for our customers to capture their screen as part of their everyday practice approach. The seamless integration of screen recording tears down the barriers that have kept users from reaching the next level of practice performance. By allowing users to record their screen in real time, its now possible to develop truly complex practice scenarios, such as giving detailed PowerPoint presentations or demonstrating hands-on software proficiency." said Darik Volpa, Founder and CEO of Rehearsal.
With over 120,000 active users, and dozens of Fortune 500 customers, Rehearsal continues to introduce best-in-class technology advancements to lead the industry in video-based practice.
Rehearsal is a video-based practice platform. It gives your team a safe place to role-play and develop their communication skills so they can perform when it matters. Conveniently review, coach, and share responses to inspire the whole team.
Rehearsal is privately held, debt free, and rapidly growing.
Following the rebrand announced in May, Rehearsal experiences triple digit growth and continues to focus on international expansion.
Following completion of a successful rebranding and expansion effort, Rehearsal is fast becoming the disruptive force in the online training space, moving far beyond simple role-play and now focusing on videobased practice applicable to all types of industries and professional functions.
Rehearsal’s best-in-class video-based practice platform has been adopted by twenty-two Fortune 500 companies, helping them to enhance selling skills, focus messaging, and accelerate leadership development. Customers have reported a near triple-digit return on investment in their first year of use.
““We are quickly surpassing our 2016 targets by delivering on key customer, technology, and financial goals,” stated Darik Volpa, Chief Executive Officer of Rehearsal. “We continue to expand up market, signing larger customers while driving above-market growth in our customer base. From a technology perspective, we rolled out meaningful enhancements to our platform including a redesigned administrative user interface, a user notification system, and a new recording engine leveraging cutting-edge technologies like WebRTC API.”
Rehearsal’s subscription revenue has increased 248% year to date, with a year over year increase of more than 500% from the third quarter of 2015. Subscription dollar retention rates remain high, while customer churn was below 10%.
Rehearsal also expanded its language capabilities to include French, Italian, Korean, Polish, and Japanese.
Rehearsal VRP is a video-based practice platform that gives teams a safe place to develop their communication skills so they can perform when it matters. Users can conveniently review, coach, and share responses to inspire the whole team.
Rehearsal VRP is privately held, debt free, and rapidly growing.
Rehearsal VRP Wins Gold & Silver
Rehearsal VRP, a leader in innovative video-based practice, won a coveted Brandon Hall Group Gold award for the Best Advance in Software for a Training Company and a Silver award for Best Advance in Coaching category. Rehearsal VRP’s win was announced on December 3, 2015. The http://www.brandonhall.com/excellenceawards/past-winners.html.
"2015 has been a breakout year for Rehearsal as we have seen strong customer adoption and triple digit sales growth. Receiving a Gold and Silver award from The Brandon Hall Group further legitimizes our efforts among our peers and is a great finish to an amazing year" said Rehearsal VRP CEO, Darik Volpa.
“Our award winners are the most visionary and innovative developers of HCM technology solutions that move organizations forward in serving employees, customers and investors,” said Brandon Hall Group Chief Operating Officer Rachel Cooke, who runs the awards program. “I think everyone can learn from the achievements of our award recipients.”
"These award-winning solutions were closely evaluated by our judges for not only their innovation, but the real results they brought to the organizations,” Brandon Hall Group Chief Executive Office Mike Cooke said. “That is what makes our technology awards program special – connecting creativity and innovation to direct business results."
A panel of veteran, independent senior industry experts, and Brandon Hall Group senior analysts and executives evaluated the entries based upon the following criteria:
Rehearsal VRP is a video-based practice platform that gives teams a safe place
to develop their communication skills so they can perform when it matters.
Users can conveniently review, coach, and share responses to inspire the whole
Rehearsal VRP is privately held, debt free, and rapidly growing.
Most significant enhancement to date now allows ongoing video dialogue between students and trainers.
Rehearsal VRP is excited to announce the release of the Conversation Thread. This major update improves video coaching and interactions with ongoing, dynamic discussions between students and trainers. Meaningful mentoring, teaching, and coaching requires more than a single interaction. Trainers and coaches need a way to make interfacing with students more personal and impactful. The Conversation Thread does just this and allows much greater flexibility for Rehearsal VRP users.
"Rehearsal's Conversation Thread brings scenarios to life by giving mentors the ability to maintain an active dialogue with students. The flexibility of having back-and-forth conversation increases the applications and the effectiveness of the platform. This opens up a whole new application for what Rehearsal VRP is and can be", said Darik Volpa, Founder and CEO.
Previously, when a student responded to a scenario, the only option was to grade or clear the response. Now, you can ask a question or give feedback and continue the interaction by prompting the student for a follow-up video response. This conversation can go on for as long as you like. In addition to this new flexibility, a community of mentors can now provide feedback to a student's response.
This spin-off from Understand.com will provide greater focus on the training and development market.
Effective January 1, 2015 Rehearsal VRP is now a subsidiary of Rebellion Training, LLC. Rebellion Training serves as the parent company of Rehearsal VRP and any future training-related subsidiaries. Rehearsal VRP is a company focused on video-based role-play training that will continue to develop enhancements to its award-winning technology. Future subsidiaries of Rebellion Training will support the ever-growing need to reform the training and development industry.
"When I hear statistics from IBM that 70-90% of every dollar invested in training is wasted and that 40% of total sales training costs are spent on travel and lodging, I get angry," says Darik Volpa, Founder and CEO of Rebellion Training. "We are committed to stopping this waste and we want our parent company to reflect that mission. I think rebellion captures our passion for providing innovative products and services in the training and development industry."
Rehearsal VRP continues to be recognized for offering leading edge technology in support of role-play and video as a training method. "We have found role-play to be one of the most effective training and communication tools in the industry, but when travel and time are at a premium, we had to find a way to preserve the benefits, while lowering the costs," says Darik Volpa. "Rehearsal VRP addresses these issues and allows organizations to easily incorporate role-play and scenario- based learning into their training curriculums."
Rebellion Training is focused on transforming the training and development industry with products that will change how people learn, communicate and perform. Rebellion Training is the parent company of Rehearsal VRP, a subsidiary offering video role-play technology.
Company Receives Gold in Innovation Category.
Rehearsal VRP has received a highly respected Optimas Award from Workforce magazine, a business magazine serving the human resources industry since 1922. The company received gold in the Innovation category for its ability to use video as a communication platform.
Celebrating its 23rd year, Optimas Award winners are recognized for identifying a serious business issue within their organization and implementing a successful HR strategy, generating positive results. Winners are chosen by the Workforce editorial staff based on significant business results. Companies of all sizes are eligible to participate.
"Too often, the work of innovative HR departments flies under the radar, unnoticed by many outside their organizations," said Mike Prokopeak, editor in chief of Human Capital Media, which publishes Workforce magazine. "The Workforce Optimas Awards are an opportunity to celebrate more broadly the important work HR departments across the world are doing to develop meaningful and effective solutions to significant workplace challenges - and deliver noteworthy results in the process."
All Optimas winners will be featured in the December issue of Workforce magazine. For more information on the Optimas Awards, please visit Workforce.com/optimas.