When Stephen Fromkin and I co-founded Talespin back in 2015, we shared a mission of building a world where purpose and professional opportunities are entirely aligned. Traditionally, the economy and workforce have been driven by businesses’ needs, but we wanted to change that. From day one, our goal has been to create a new norm, where individuals shape the workforce with their unique passions and skills. It was this shared vision that brought us together with Jeroen de Cloe through our acquisition of Sticky Studios in 2017, combining our teams, skill sets, and aspirations to tackle a global challenge.
I'm excited to announce we're one step closer to realizing that vision: we raised $15 million for our Series B funding round, bringing our total funding raised to $20 million. Cornerstone, a leader in people development software, led the round, with additional participation from HTC and existing investors, including Farmers Insurance Exchange. We’ve come a long way since the early days of our company’s history when we spent hundreds of hours testing our ideas and products in Fortune 100 labs and with L&D teams.
In addition to leading our investment round, Cornerstone is partnering with Talespin to lower the barrier to entry for XR learning solutions. Together, our teams will develop technology and products to up-level HR and L&D practices. Talespin's VR learning content will become available to customers through Cornerstone's product offerings, and we are integrating our Runway platform with Cornerstone's Learning Management System to power XR training deployment and skills matching analytics at scale.
Today, providing companies with XR training solutions is more critical than ever because the working world is changing. Automation is reshaping process-oriented jobs (impacting as much as 50% of work activities in the US). At the same time, digital natives are entering the workforce, shifting the types of skills people bring to their careers. Because of these changes, companies are facing massive reskilling challenges. They're struggling to transform their workforces to keep pace with rapidly changing technology, evolving workforce expectations, and widening talent gaps.
My team and I will use our new funding to address these problems and help prepare employees for the future of work. Specifically, we're planning on using the funding to power our talent development platform, expand our R&D, and continue growing our VR learning content library.
At Talespin, we have a two-fold mission. First, we aspire to open up career pathways for individuals that align with their natural abilities and learned skills. Second, we want to enable companies to implement a skills-based approach to talent development, assessment, and placement by leveraging the laws of acceleration made possible through spatial computing. Our north star in delivering on this mission is rooted in inspiring a sense of adventure and infinite curiosity in us all.
Our new funding and partnership with Cornerstone will allow us to expand our product offerings to achieve these goals. Thank you to all of our customers, investors, and partners for your continued support and belief in our mission to build innovative solutions that redefine what work will look like in the future.