Totara today announced that its owners have entered into a purchase agreement with Sydney private equity firm Five V Capital, under which Five V will acquire a majority ownership interest in Totara. The operations and management of Totara will remain unchanged with Richard Wyles continuing as Chief Executive Officer.
Totara is a global leader in learning management technologies, serving over 1,500 customers and reaching more than 20 million users worldwide. Its core product, Totara Learn, is a fully customisable LMS serving multinational corporations, government entities, and mid-market companies in delivering scalable workforce solutions. Its adaptable architecture is tailored by a network of 75+ partners to meet the complex organisational and security requirements. With a team of 120 across offices in the UK, US, and New Zealand, Totara continues to expand to meet the needs of its global customer base. Totara has experienced strong growth in the US over the last 2 years, with the US business now accounting for more than one third of its ARR, servicing predominantly Federal agencies, having secured FedRAMP authorisation in August 2023.