A few years back, Darren Shimkus, the former president of Udemy, engaged in a discussion with Dennis Yang regarding skills development.
Shimkus believed that enhancing skills within the corporate realm posed a challenging yet solvable obstacle, potentially addressable through suitable technology. This notion was shared with Yang, who served as Udemy’s CEO.
According to Shimkus, “At Udemy, Yang and I tackled the ‘access’ issue in learning — enabling individuals in any organization to access quality video content on desired skills.” However, merely addressing video accessibility proved insufficient.
Subsequently, Shimkus and Yang ventured into a new entrepreneurial endeavor: Modal.
Modal specializes in tailored technical skills training for corporate personnel, delivering personalized guidance and employing a teaching methodology that organizes users into semi-structured virtual learning communities.
Shimkus elaborated, stating, “Our platform evaluates each team member, pinpoints skill gaps, and devises individualized development plans to mitigate the ‘skill risk’ companies encounter in achieving their strategic objectives. We cater to diverse objectives such as modernization initiatives, digital transformation, and onboarding new hires post-acquisition.”
The upskilling sector is fiercely competitive, with players like GrowthSpace, Learnsoft, Pollen, Scaler, and Workera vying for market share. How does Modal intend to differentiate itself?
Shimkus outlined two key strategies. Firstly, by focusing on trending topics like data and AI. Modal’s initial array of e-learning modules centers exclusively on these subjects, a strategic move in today’s landscape.
“The prominence of AI has propelled data teams into the spotlight,” Shimkus noted. “There’s a surge in expectations, prompting many teams to swiftly enhance their AI proficiencies, technical expertise, and even the business acumen of their workforce.”
Image Credits: Modal
Secondly, Modal distinguishes itself through its practical approach, emphasizing real-world application. As learners progress through the courses, their assigned coaches contextualize and elucidate crucial concepts.
“Our incorporation of practical exercises and coaching sets us apart from conventional e-learning platforms,” Shimkus emphasized. “We believe our direct competitors are limited in comparison.”
This approach appears to resonate well. Modal, which charges companies based on course completion, boasts over 100 clients, predominantly from the Fortune 1000, as per Shimkus.
Recently, Modal secured \(25 million in a funding round led by Left Lane Capital, elevating its total funding to \)32 million. The company aims to expand its team to meet rising demand and broaden its services globally.
Shimkus remarked, “The surge in generative AI has underscored the pressing need for upskilling within organizations — staying abreast of transforming teams and businesses is imperative. In today’s dynamic workplace milieu, predicting and enhancing team skills is a challenge for most leaders. Modal is tailored to address this scenario.”
