Open English, a Miami, Florida-based on-line English language school, has closed a $5m series A financing round.
Investors in the round include the families who control El Salvador’s Grupo TVOffer, the largest direct to consumer marketing company in Central America.
Funds will be used to expand the school across all of Latin America and the United States Hispanic market.
In conjunction with the financing, the company signed a marketing agreement with TVOffer, which will help launch the on-line school throughout the region.
Open English’s parent company also announced the appointment of five new board members: Luis Armando Salaverría, Juan Salaverría, John Oxendine, Chairman John McIntire, and the company’s CFO Thomas Wenrich.