EdCast Raises $35 Million in Funding to Expand Its Platform

IBL News | New York

EdCast, a Mountain View, California – headquartered provider of corporate learning software and content, announced yesterday the close of funding round of $35 million in Series D.

Avathon Capital, formerly known as Sterling Partners’ Education Opportunity Fund, led the round. National Grid Partners, State Street Global Advisors, and REV Venture Partners participated, as well.

Founded in 2013, EdCast uses the Open edX – based software as a part of its corporate training platform.

EdCast claims to host two million paid users, including employees from Hewlett Packard and the World Economic Forum.

According to a statement released on Thursday, “EdCast will use this latest funding round to continue expanding its Knowledge Cloud, Content Marketplace, and MyGuide product offerings.”

Other start-ups with a corporate learning focus have raised significant amounts of funding this year. OpenSesame obtained $28 million, while 360Learning raised $41 million and GO1, $25 million.