Reforge: A Startup Case Study – Fueling Tech Career Growth

Education is a lifelong pursuit because learning is a continuous process that never ends. Several companies have successfully blended education and technology, operating in the EdTech space. This has made education more accessible to many individuals. But which EdTech caters to mid-career tech professionals?

Reforge

Reforge is an online educational platform that empowers mid-career tech professionals through expert-led, cohort-based programs. The company is currently active and focuses on providing real-world learning experiences that focus on growth, product management, marketing, and leadership, to help learners advance their careers in these fields.

Status: Active
Founding Year: 2015
Headquarters: San Francisco, California
Industry: Educational Services

Business Model

• Type: B2B2C, One-sided, Service
• Clients: Mid-career tech professionals seeking to advance their skills, particularly in product management, growth, marketing, and engineering.
• Suppliers: Industry experts in product management, growth, marketing, and engineering who create content and lead programs.

It’s Like: MasterClass but for tech professionals

Reforge, like MasterClass, leverages a subscription model to provide access to high-quality educational content from leading experts. Both platforms focus on delivering premium learning experiences and building communities around their offerings.

With some differences, though:

• Target Audience: While MasterClass caters to a broad audience interested in various disciplines, Reforge specifically targets experienced professionals in the technology sector, particularly those in product management, growth, marketing, and engineering.
• Content Focus: Reforge’s content emphasizes practical application and real-world skills directly applicable to tech careers, whereas MasterClass offers a wider range of courses spanning diverse fields, often focusing on broader personal or professional development.
• Community Interaction: Reforge emphasizes peer-to-peer learning and networking within its cohorts, fostering a more interactive and collaborative learning environment compared to MasterClass’s model, which primarily centers around expert-led content consumption.

Key Problems in the Market

• Skills Gap: The rapidly evolving technology industry demands professionals to update their skills and knowledge to remain competitive constantly. Traditional education models often fail to keep pace with these rapid changes, leaving a gap between the skills employers need and what professionals possess.
• Lack of Practical Application: Many educational resources focus on theoretical concepts without providing sufficient opportunities for practical application. This leaves professionals ill-equipped to tackle real-world challenges in their roles.
• Ineffective Networking Opportunities: Traditional networking events often lack depth and fail to facilitate meaningful connections among professionals facing similar challenges.

Key Solutions

• Cohort-Based Programs: Reforge offers intensive programs focused on specific areas of expertise within the technology sector. These programs are delivered in a cohort-based format, enabling professionals to learn alongside peers who face similar challenges. This fosters a collaborative learning environment and facilitates valuable networking opportunities.
• Expert-Led Instruction: Reforge’s programs are led by experienced industry practitioners who bring real-world insights and practical knowledge to the classroom. This ensures that the content is relevant, up-to-date, and directly applicable to the challenges professionals face in their roles.
• Practical Application: Reforge emphasizes practical application throughout its programs. Participants work on real-world projects, apply learned concepts to case studies, and receive personalized feedback from instructors. This hands-on approach ensures that professionals can immediately implement their newfound skills and knowledge in their work.
• Community Building: Reforge fosters a strong community among its members through alumni programs, exclusive events, and online platforms. This provides ongoing support, networking opportunities, and access to a valuable network of like-minded professionals.

Founding Story

When and How Founded: Reforge was founded in 2015 by Brian Balfour.

Founder’s Problem and Experience: Brian Balfour was the VP of Growth at HubSpot between January 2014 to March 2016. In this position, he observed that his team members were eager to enhance their skills but found the existing educational resources to be inadequate. Traditional programs were often too introductory or disconnected from the practical challenges that experienced professionals face in areas such as product management, growth, and marketing.

Motivated to fill this void, Balfour collaborated with Andrew Chen—then working on a similar initiative called Silicon Valley Business Review (SVBR)—to launch the first version of what would become Reforge. This initial program, the Growth Series, was a side project that quickly gained traction, receiving thousands of applications and validating the demand for advanced, practitioner-led education.

Early Team and Solution: Reforge’s early team members included Brian Balfour, Andrew Chen, Matt Greenberg, Buford Taylor, Christopher Ming, and Dan Wolchonok who took on various roles to ensure the proper setup and subsequent functioning of the company. The company’s core philosophy revolves around unlocking and disseminating the “earned insights” of “frontier leaders”—knowledge gained through direct experience at the cutting edge of the tech industry.

The company’s focus on cohort-based learning led by industry experts led to strategic partnerships with experts from various tech disciplines including Casey Winters and Shaun Clowes to develop and teach its programs.

Challenges, First Results, and Growth: Reforge specifically targets the “messy middle” phase of career development—the transition from individual contributor to senior manager/leader—a period often characterized by volatility and underserved by traditional educational institutions like MBA programs, corporate training, and conferences, which Reforge views as inadequate for modern professional needs.

Although specific membership counts within its first few months of operation are not publicly available, the successful bootstrapping of the company into an 8-figure generating entity before raising $21M in Series A funding proves the company’s success and growth.

Innovation and Technology: Reforge leverages technology to enhance its programs, providing a seamless learning experience. The company utilizes AI-powered tools, such as its Chrome extension, for personalized coaching and document generation.

Key Growth Milestones

• 2015: Conceptualization of Reforge as the Growth Series
• 2016: Reforge was founded by Brian Balfour.
• 2018 – 2020: Reforge expanded its program offerings beyond the initial Growth Series, adding courses in product management, retention, monetization, and experimentation.
• 2021: Reforge raised $20 million in Series A funding after years of bootstrapping.
• 2023: Over 1,000 teams were using Reforge’s programs.
• 2024: Reforge partnered with Microsoft to provide product management training across the company.
• 2025: Acquisition of Monterey AI to support the transition to AI-native product teams.

Market & Competition

Target Market

Reforge focuses on mid-career professionals in the technology sector, specifically those in product management, growth, marketing, and engineering roles.

• Market Size: The global eLearning market was valued at approximately $299.67 billion in 2024 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 19% from 2025 to 2030. The corporate eLearning market, a key segment for Reforge, is expected to reach $362.94 billion by 2032.
• Growth: The online professional education and training market is experiencing rapid growth, driven by factors such as the increasing demand for digital skills and the growing adoption of online learning by businesses.
• Potential New Markets: Reforge could expand its offerings to target professionals in other industries or offer programs tailored to more job functions within the technology sector.

Competitor Landscape

Reforge operates in a competitive online education market, facing competition from both general online learning platforms and niche players focused on technology-related skills.

• General Online Learning Platforms: Coursera, Udacity, Udemy, and LinkedIn Learning.
• Cohort-based Learning Platforms: Section and Maven.
• Corporate Learning Management Systems: Docebo and TalentLMS.
• Niche Players: Product School and General Assembly

Marketing & Sales

Main Positioning Values: Quality

Website & Socials

• Website Monthly Visits: Around 290,805 visits per month, indicating a steady flow of interested professionals exploring Reforge’s offerings.
• Traffic Sources Overview: Nearly half of the traffic (about 45.58%) comes directly, reflecting a strong brand presence. Organic search is also significant (approximately 40.97%), while referral (about 6.48%), paid search (around 3.89%), social networks (about 2.43%), and ads (about 0.51%) make up the remaining share.
• Top Countries: The United States leads with about 22.77% of visitors, followed by Great Britain (6.82%), Nigeria (5.92%), the Netherlands (5.58%), and India (5.36%).
• Traffic from Social Media: LinkedIn dominates at about 66.57%, with YouTube (13.31%), Reddit (9.73%), and X (4.19%) also contributing to Reforge’s social presence.

Media Coverage

Reforge has been featured in several publications including:

• Founding team members of Reforge such as Buford Taylor and Christopher Ming have written about the early days of the company on their blogs.
• The Hypotheses Behind Reforge’s Journey From $0 to $30M where the founder shared his Business hypothesis canvas
• The Mobile User Acquisition show: How to grow a growth education business with Brian Balfour, CEO at Reforge.
• Churn FM: The Foundational Laws of Retention That Haven’t Changed in the AI Era with Brian Balfour
• The layoff of some team members was mentioned in a LinkedIn post by the CEO
• PR Newswire reported Reforge’s Series B funding to expand knowledge and networking opportunities for members

Marketing Strategies

• Target Audience: Reforge primarily targets mid-career technology professionals, particularly those in product management, growth, marketing, and engineering roles. They focus on individuals with proven experience seeking to advance their skills and careers.
• Customer Acquisition: Reforge utilizes a multi-channel approach, including:
  • Content Marketing: They offer valuable resources on the blog brand’s, such as articles, guides, and real-world work examples to attract and engage their target audience.
  • SEO: Their website content is optimized to rank highly in search results for relevant keywords.
  • Social Media: They engage with their target audience on platforms like LinkedIn and X.
  • Partnerships and Referrals: They leverage industry connections and word-of-mouth marketing from satisfied users.
• Demographic Detail: Reforge’s website demographics show their audience is primarily:
  • Age: 25-34 (42%), followed by 35-44 (19%)
  • Gender: Nearly evenly split between males (49.8%) and females (50.2%)
• Supplier Acquisition: Reforge gets instructors and course creators by leveraging the connections between its team members; especially the CEO.

Product & Innovation

Subscription Model for Advanced Professional Development

Reforge’s transition from one-off courses to a subscription model is a key innovation in the professional development space. This model provides recurring revenue, increases customer lifetime value, and incentivizes Reforge to continuously deliver value to retain subscribers

Curated Cohort-Based Learning for Experienced Professionals

Unlike platforms targeting a broader audience, Reforge focuses on curating cohorts of experienced professionals with similar career goals and challenges. This fosters a high-engagement learning environment where participants can learn from each other’s experiences and build valuable professional connections.

Focus on Practical Application and Real-World Projects

Reforge differentiates itself by emphasizing practical application over theoretical knowledge. Their programs incorporate real-world projects, case studies, and personalized feedback, ensuring participants can directly apply learned concepts to their work

Integration of AI-Powered Tools

Reforge leverages AI to enhance its offerings, such as its Chrome extension for personalized learning support and document generation. This demonstrates their commitment to utilizing technology to improve the learning experience and provide additional value to subscribers.

Financials & Metrics

Annual Recurring Revenue (ARR)

Reforge’s ARR is estimated at $120.7 million

Funding

$81 million over 2 rounds; the company raised about $21M in its Series A and $60M in its Series B

Investors

Reforge’s investors include Insight Partners, a16z, and True Ventures.

Employee Count

Estimated at 51-200

Structure & Culture

Reforge operates a strategically structured leadership team that reflects its focus on delivering advanced professional development programs for mid- to senior-level tech professionals. These key teammates include:

• Brian Balfour – Founder & CEO
• Tom Willerer – Chief Operating Officer (COO)
• Fareed Mosavat – VP of Programs
• Helen Sims – Head of Product
• Kimberly Beatley – Head of Finance, People & IT
• Kristi Jackson – Head of Finance
• Sannie Lee – Head of Support Experience
• Tuan Vu – Head of Information Technology
• Steven Harlow – Engineering Manager
• Archie Leeming – Senior Product Designer

Culture

• Community Focus: Reforge emphasizes building a strong community of learners. This is fostered through alumni programs, exclusive events, and continuous learning opportunities.
• Helpfulness and Collaboration: Reforge promotes a culture of helpfulness and collaboration, encouraging members to connect, share knowledge, and learn from each other.
• Continuous Learning: Reforge champions continuous learning, evident in its provision of ongoing resources and opportunities for professional development.

Impact & Success

Since the company launched in 2015, Brian and his team have been bootstrapping the program with impressive success. Reforge has carved out a wedge, becoming the leading training program for product and growth marketing at technology companies. It is beloved by alumni, whose ranks have grown to encompass many thousands, largely driven by word of mouth.

Customer Feedback and Success Stories

There’s a thread on Reddit where someone asked for feedback from peoplewho had taken a course on Reforge.

 

The replies where mostly positive, with individuals that have taken a course commending it for being insightful.

Growth & Future

Challenges and Risks

Managing scale while maintaining quality: As more mid-level professionals sign on to Reforge, the brand will have to implement effective ways of maintaining the quality of the course material while ensuring that members are fully engaged in he learning process and benefit form it.

Justifying its premium price point amidst increasing competition and content saturation: EdTech is growing rapidly with more companies offering similar courses at cheaper rates. And course creators need to look for and find tools to “bind” clients to themselves amidst content saturation. Reforge need to tackle both issues to remain the destination for mid-level professionals in product, tech, and growth.

Adapting to the rapid pace of technological change: Technology keeps advancing daily with several tools available in various industries, including EdTech. To stay relevant, Reforge needs to match this in their course content curation, delivery and enagagement of professionals.

Future Plans

Expansion and Innovation: Reforge aims to expand its reach and impact within the professional development market. This includes growing its membership, expanding program offerings, and further developing its AI-powered tools.

Key Takeaways for Entrepreneurs

• Niche Down for Maximum Impact: Don’t be afraid to target a specific, underserved audience. Reforge’s laser focus on experienced tech professionals allows them to tailor content and build a thriving community that caters to their unique needs.
• Community is Your Currency: In a crowded market, a strong community fosters engagement and loyalty. Reforge’s emphasis on cohort-based learning and alumni engagement transforms education into a valuable shared experience.
• Value Over One-Time Transactions: Shifting from a transactional to a value-driven model, like Reforge’s subscription, fosters long-term relationships and creates recurring revenue streams.
• Curate, Don’t Just Aggregate: Don’t just offer content; curate an experience. Reforge’s selective admissions process ensures a high-quality learning environment for all participants.
• Practicality Trumps Theory: In a fast-paced world, demonstrable skills matter most. Reforge’s focus on real-world application and project-based learning equips professionals with immediately applicable skills.
• Embrace the Power of ‘No’: Saying ‘no’ to certain customer segments, like Reforge does with startups and inexperienced individuals, allows you to serve your ideal audience better and maintain the integrity of your community.