Market Overview

Absorb Software Capitalizing on e-Learning Market Growth with International Investments & Office Expansions

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Absorb Software, a leading provider of cloud-based learning and
performance management software and analytics for the corporate and
higher education markets, is capitalizing on the current e-Learning boom
via international expansion. In 2018, Absorb opened new offices in the
US, Australia, and China. Together with a stable of senior leadership
hires, industry
recognition
in Forbes and new delivery models on the horizon, Absorb
is well positioned for immediate growth in the expanding learning
economy. This further validates the $59 million strategic growth
investment of Silversmith Capital Partners in 2017 who saw potential in
the Absorb learning management system (LMS).

Market research from Global Industry Analysts projected
e-Learning would reach $107 Billion by 2015—which it did. Now, Research
and Markets
forecasts a sector explosion to $325 Billion by 2025.
Absorb is now experiencing the front edge of that wave, fueling its
international expansion and continued innovation as corporate
training
becomes a bigger part of HR management and employee
retention
strategies.

"Entering 2018, we were confident that the growth we were experiencing
would only accelerate," said Absorb Software CEO, Mike Owens.
"International expansion was the next logical step as global customers
raised their hands to partner with us. The response has been
overwhelming, as more customers launch learning on Absorb and see the
positive effects it has on their organizations."

Beyond launching offices in Boston, Massachusetts, Sydney, Australia and
Shanghai, China, Absorb expanded its Calgary, Alberta headquarters by
adding a second location, doubling its footprint in Calgary. New
marketing campaigns have launched to drive company momentum and further
elevate Absorb within the LMS marketplace.

"While we add new customers, we likewise grow together with our existing
ones—many of whom have been with us for years," said Owens. "Our
commitment to ongoing innovation and customer service offers clients
what they need to thrive."

This sentiment was echoed by longtime customer, Pam Henry, President of
Digital Spark, LLC, who has been with Absorb since 2010. "We originally
chose Absorb because it had better features, was easier to learn, and
had a clean UI. Years later, we still find the features, stability,
performance, and service we get from Absorb to be a great value—you just
can't get what they offer from most tech companies."

Looking ahead, Absorb will be expanding its content offering and
introducing new platform models, innovations designed to accelerate
corporate growth.

About Absorb Software

Absorb Software is a learning technology company based in Calgary,
Alberta Canada, with subsidiaries in England, Ireland, Australia, China
and the United States. The Absorb flagship product, Absorb LMS, is an
industry-leading and award-winning Learning Management System for
businesses, higher education, government and non-profit agencies around
the world. Learn more at www.absorblms.com,
or follow the company on LinkedIn,
Facebook,
or Twitter.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth
equity firm with $1.1 billion of capital under management. Silversmith's
mission is to partner with and support the best entrepreneurs in
growing, profitable technology and healthcare companies. The firm seeks
to invest $15 million to $75 million per company. Representative
investments include ActiveCampaign, Centauri Health Solutions, Digital
Map Products, Impact, LifeStance Health, Nordic Consulting Partners, and
Partners Surgical. The founders have over four decades of collective
investing experience and have served on the boards of numerous
successful growth companies including ABILITY Network, Dealer.com,
Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health,
SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com.

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