EdCast, a Mountain View, CA-based Open edX provider, has raised a new round of $16 million, the second in its three years of existence.
This new capital, that comes in addition to a $6 million Series A round led by Softbank Capital in late 2014, will be destined to expand EdCast’s “Personal Learning Network”, a social network through which users learn from influencers, peers and experts.
Karl Metha, Founder & CEO of EdCast, has explained: “We are laser focused on our mission to expand the knowledge economy with curated, contextual bite size knowledge (…) Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need for daily relevant insights from the world’s foremost experts and influencers in a variety of industries, from tech, health, financial services, highered, entrepreneurship and expanding to telecom, banking, media, retail.”
The Series B $16 million financing has been led by GE Asset Management. Other investors include SoftBank Capital, Cervin Ventures, Stanford StartX Fund and Penta Global.
EdCast has relevant clients among Fortune 100 companies such as GE, Salesforce, EMC and HP, with its HP LIFE knowledge community of 0.5 million users.
[Disclosure: IBL has a partnership with EdCast to participate in Open edX-based projects]