LRN is a global leader in ethics and compliance solutions, serving over 1,000 major corporations and organizations worldwide.
The company was founded in 1996 by Charles Bowles and is headquartered in New York City.
LRN provides a range of services, including compliance training, risk management, and ethics consulting.
Their training programs cover a wide range of topics, from anti-bribery and anti-corruption to data privacy and cybersecurity.
LRN's services are designed to help organizations build a culture of compliance and ethics, reducing the risk of misconduct and improving overall performance.
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History and Founding
Dov Seidman founded LRN just two years out of Harvard Law School. He had a clear vision for the company, which was to offer legal knowledge and analysis services through an expert network of academics and lawyers.
Seidman was able to pre-sell a $500,000 contract to MCI based on his idea, which shows just how confident investors were in his business plan. He raised $2 million from 42 investors to launch the company.
LRN's network of experts grew rapidly, with 1,100 legal experts on board within its first year. These experts covered over 2,500 subjects, and were mostly law professors, solo practitioners, and lawyers on leave from their regular jobs.
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Expansion and Growth
The company's expansion into training was a significant milestone, adding ethics and compliance training in the late 1990s to provide legal and ethical awareness throughout organizations.
By the early 2000s, LRN was offering online classes that facilitated mass training of thousands of employees at large multi-nationals like Johnson & Johnson and Pfizer.
Pfizer trained 150,000 of its employees with LRN courses, covering important topics such as compliance with sexual harassment laws, trade secrets, and anti-trust.
As of 2000, 200 of the Fortune 500 companies were clients of LRN.
In an effort to standardize best practices for business ethics, LRN offered "common standards" for ethics and corporate compliance education, which competitors like Johnson & Johnson and Pfizer shared, using up to 90% of the course materials.
Seidman testified in 2004 before the U.S. Sentencing Commission, emphasizing the need for companies to develop ethical cultures instead of "check-the-box", compliance-only approaches.
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Services
LRN offers a range of services to help companies build and maintain a strong ethical culture. Their services include analyzing corporate cultures, rewriting codes of conduct, and providing education and training to employees on ethics and compliance.
LRN emphasizes the importance of principles and values over simply following rules. This approach has been shown to be effective, with companies that focus on values being less likely to experience misconduct among employees.
According to LRN's annual Ethics & Compliance Program Effectiveness Report, 97% of values-based companies outperformed their competition. This is a significant advantage over companies that focus on rules and procedures.
LRN's online education platform offers over 500 courses in 50 languages, covering a range of topics including international corruption law, intellectual property, and data protection. Their courses are designed to be engaging and interactive, using formats such as videos, blogs, quizzes, and social media.
One example of LRN's innovative approach to ethics training is the "Honesty Project", a game they developed for Dell in 2014. This type of interactive training can be a fun and effective way to teach employees about ethics and compliance.
LRN's Benchmark of Ethical Culture report found that companies with strong ethical cultures outperform other companies by 40% across several metrics, including customer satisfaction, employee loyalty, and innovation. This is a compelling reason for companies to prioritize building a strong ethical culture.
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Financial Performance
LRN has received significant investments over the years, starting with a $30 million investment from Softbank in 2000.
In 2018, Leeds Equity Partners made a substantial investment in LRN, which enabled the company to acquire Interactive Services in 2020.
This acquisition added a Dublin-based e-learning company to LRN's portfolio, offering workplace policy compliance training to clients.
LRN's estimated annual revenue is currently $91.7 million per year.
Their estimated revenue per employee is a staggering $125,678, indicating a strong financial performance.
LRN's total funding remains at $30 million, a relatively modest amount considering their current revenue.
Here's a quick summary of LRN's financial performance:
- Estimated annual revenue: $91.7 million
- Estimated revenue per employee: $125,678
- Total funding: $30 million
Employee and Market Data
LRN has 730 employees, a significant workforce that requires effective management and resources.
The company has experienced a modest growth in their employee count, with a 2% increase last year.
Frequently Asked Questions
Who is the CEO of LRN?
The CEO of LRN is Kevin Michielsen, who leads the company's overall direction and strategy. He works closely with the Leadership Team to drive LRN's growth and success.
Who owns LRN Corporation?
LRN Corporation was founded by Dov Seidman 28 years ago, and he remains the company's driving force behind its mission to promote ethical behavior in business. Dov Seidman is the founder and owner of LRN Corporation.
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