Ethena raises $30M in Series B for modern and effective compliance training

We’ve grown so much in the past year, and we’re just getting started

Less than a year ago, Ethena announced our $15.5 million series A, and we’re delighted to announce that we’ve raised an additional $30 million Series B to build out Ethena’s best-in-class training solution, further invest in data and analytics, and continue launching impactful compliance products.

Ethena’s Series B was led by Lachy Groom, with participation from existing investors including Felicis, Neo, Homebrew, and others. We’re especially proud that about half of the angel investors we’re welcoming in this round are women. Among our angel investors are Jack Altman, Mathilde Collin, William Hockey, Gretchen Howard, and Claire Johnson, and syndicates from Black Women on Boards and People Tech Partners.

Businesses are held to a much higher standard than ever before. Employees expect companies to build inclusive and ethical workplaces—and compliance, when done right, does exactly that. Modern companies don’t want to just “check the box,” they want to use data-driven approaches to educate employees and spot issues proactively. This latest round of support allows us to continue building out a compliance operating system designed for today’s teams. Since founding Ethena 2019 with my co-founder, Anne Solmssen, Ethena has been working to solve the problems with modern compliance training, with cutting-edge delivery tools that meet learners where they are, inclusive training content written for the moment, and a delivery model that trains learners over time to ease schedules and keep helpful resources and tools top of mind.

Originally launched with just one course–Harassment Prevention–Ethena has since expanded our course options to include Diversity, Equity, & Inclusion, Hiring & Interviewing, and Anti-Bribery & Corruption. We’re proud to have almost 60,000 active learners on the Ethena platform, including companies like Zendesk, Carta, and Figma. As our long-time advisor Frances Frei says, “Ethena’s superpower is in delivering training such that people actually learn. Yes, it’s key that training is bite sized, delivered when it’s maximally impactful, with modern, relevant content–but the real impact comes from designing for efficacy. That’s dramatically different from how things used to be done.”

Designed to make training as convenient, relevant, and enjoyable as possible, Ethena’s training nudges are completed more than two times faster than the industry standard, and upon completing Ethena’s Harassment Prevention course, 61% of learners noted a significant increase in confidence intervening on behalf of a colleague.

Here at Ethena, we’re proud to continue making training that has a genuine and positive impact on the lives of our learners, and as we grow, we’re looking forward to bringing the same Ethena approach to new course offerings, like Code of Conduct and Data Privacy & Security training. Working with our customers, we’re investing in a healthier, inclusive standard for company culture as we continue building better workplaces together.