Accelerates investment and significantly expands generative AI technology roadmap
TORONTO, ONTARIO – June 12, 2023 – Docebo Inc. (NASDAQ: DCBO; TSX:DCBO) (“Docebo” or the “Company”), a leading learning platform provider with a foundation in artificial intelligence (AI) and innovation, announced today it has acquired Edugo.AI (“Edugo”), a Generative AI-based Learning Technology that uses advanced Large Language Models (LLM) and algorithms to optimize learning paths and adapt to individual learner needs. Docebo’s acquisition of Edugo is focused on two main objectives: enhancing its existing AI capabilities and adding new capabilities to the Docebo platform to better serve its customers. Financial details were not disclosed.
“The effective application of Generative AI is defining the future competitiveness of the learning industry, and Docebo is leading the charge through commercial products that solve everyday learning challenges for our customers. By integrating Edugo’s proprietary LearnChain technology and extensive engineering expertise into our solutions and product development organization, we are adding to the disruptive innovation engine that has established Docebo as an industry leader in artificial intelligence and learning automation. This applies to each of the internal and external use case solutions we provide to our customers,” said Docebo’s Founder & CEO, Claudio Erba.
The executive leadership team at Docebo expects that the acquired technologies will significantly strengthen the company’s AI innovation roadmap in the following strategically critical areas:
- Expansion of Docebo Shape – rapidly automating the creation of e-learning course content from both customer-specific and internet sources
- Virtual Interactive Capability – introduce capability to provide solution-specific AI simulations, allowing learners to practice soft skills with real time AI feedback
- AI-based Skill Tagging – leveraging AI to automatically match ontologies and ensure consistency across systems, as skills ontology varies from one customer to another
- Hyper-personalized learner experience – with the integration of AI, learning paths can be adapted to the learner based on their content interaction in the platform
- Semantic search – improved content accessibility and embedded search functionality is expected to enhance the dependability and rapidity of search results based on the learner’s needs
- Acqui-hiring of key talent – Docebo’s product development team expects to add highly specialized, domain expert engineers with extensive expertise in Generative AI
“We’ve always believed in the transformative power of generative AI in the learning industry. Since our inception four years ago, we’ve been building our Learning Management System (LMS) with AI at its core. Our proprietary architecture, LearnChain, has served as the groundwork for integrating GPT language models into our LMS,” said Giuseppe Tomasello, Founder & CEO of Edugo. He added, “Now, as we become part of Docebo, we’re thrilled to bring our robust AI infrastructure to Docebo, enhancing AI capabilities and transforming the interactions across the Docebo LMS including Docebo Shape. We are excited about the opportunity this acquisition presents for the future of corporate learning. The vision and commitment of the entire Docebo team towards shaping the future of learning in the era of AI have always impressed us. We are eager to contribute to this vision and play a part in reshaping the way companies deliver learning in this new industrial revolution.”
As part of the transaction, Mr. Tomasello has been appointed as Docebo’s Vice President of AI. In this role, he will continue to drive Docebo’s Generative AI roadmap and deliver a first-mover advantage in the building and integration of these features.
Docebo (NASDAQ:DCBO; TSX:DCBO) is redefining the way enterprises leverage technology to create and manage content, deliver training, and measure the business impact of their learning programs. With Docebo’s end-to-end learning platform, organizations worldwide are equipped to deliver scaled, personalized learning across all their audiences and use cases, driving growth and powering their business.
Learn why businesses around the world love Docebo by visiting our customer stories page.
Edugo is an advanced Learning Management Technology Platform that leverages the transformative power of Generative AI. The core of Edugo’s unique architecture is a proprietary technology known as LearnChain, positioning it as the first Generative Learning Management System (GLMS) in the market. Its mission is to harness the capabilities of Generative AI to redefine the way learning is produced and consumed, thus unlocking true personalized learning.
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, statements regarding the impact the acquisition of Edugo.AI is expected to have on the Company, including its growth and financial position, the ability of the acquired technologies to strengthen the company’s AI innovation roadmap as described in this news release, or at all, and that the acquisition will expand the Company’s market presence.
This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, risks that the acquired business will not perform as expected, the Company will not be able to successfully integrate the acquired business and those factors discussed in greater detail under the “Risk Factors” section in our Annual Information Form, available under our profile on SEDAR at www.sedar.com, and should be considered carefully by prospective Investors.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein, and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward- looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
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VP – Investor Relations