The use of digital credentials is rising exponentially due to the widespread use of online CV portals and job sitesThe City & Guilds Group has invested in US-based digital credentials service provider, Credly. It’s the second investment from the Group’s New Venture Fund, which supports skills development worldwide by investing in post-revenue education technology companies in return for an equity stake.
Credly recognises lifelong achievement by offering the market-leading platform for issuing, managing, sharing and validating digital credentials and badges. Credly serves thousands of well-known organisations from around the globe in industries such as education, talent management, training, IT, finance and healthcare.
The use of digital credentials is rising exponentially due to the widespread use of online CV portals and job sites, and the need to link an individual’s experience, skills and competence to employers’ job role requirements. Carefully designed pathways or combinations of digital micro-credentials can also provide learners with fully accredited, widely-recognised qualifications from organisations like City & Guilds.
The City & Guilds Group is one of five investors in Credly, along with University Ventures, New Markets Venture Partners, Lumina Foundation and Lion Brothers Company. Among those investors, City & Guilds Group is the only one based outside of the US and with a focus on vocational education. Collectively, Credly has raised $2.5 million in seed funding.
John Yates, New Ventures Director, City & Guilds Group said:
“Our Fund aims to support skills innovation across the world. It’s clear there’s a growing trend for innovation in skills recognition, as more and more people need to showcase their skills on digital platforms. Digital credentials empower individuals to validate their skills and help employers find the talented individuals they need for their businesses to succeed.
Credly is bringing tangible recognition at scale to the value created by education and training – and has a clear focus on providing a system that supports an ever-changing jobs market. We’re delighted to work with such an exciting, fast-moving organisation and contribute to its future growth.”
Jonathan Finkelstein, Founder and CEO of Credly said:
“At Credly, we see the world shifting towards a new marketplace of knowledge and skills where digital credentials are emerging as the currency of choice. Credly’s infrastructure for creating and managing digital credentials has already enabled thousands of educational institutions, corporations and professional associations to validate and acknowledge competencies that help people connect to new and better opportunities.
The City & Guilds Group has been on the front lines of credentials, certificates and workforce readiness for almost 140 years. Its expertise and knowledge of European and worldwide labour markets will help Credly extend the promise of digital credentials to thousands of new organisations. We are proud to be working with the City & Guilds Group.”
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