UniversityNow, a San Francisco, Calif.-based social provider of post-secondary education, raised $19m in Series C venture capital funding.
The round, which brought the total amount of venture capital raised to $42m, was led by Bertelsmann SE & Co. KGaA and First Analysis Corp., with participation from existing investors University Ventures, Novak Biddle Venture Partners, Kapor Capital, and Bronze Investments. In conjunction with the funding, Dalia Das, Vice President of Education at Bertelsmann, joined the UniversityNow’s Board of Directors.
The company intends to use the funds to expand operations adding new features to its learning platform and announcing new partnerships with employers and civic organizations.
Founded in 2010, UniversityNow is a social venture that operates two online, accredited universities: Patten University (regionally accredited by the Western Association of Schools and Colleges) and New Charter University (nationally accredited by the Distance Education and Training Council), which offer flexible degree programs for working adults. They employ a model of individualized instruction, self-paced learning, and collaborative technologies designed to facilitate student-to-instructor and peer-to-peer learning and support that is customized to each student’s needs. In the next few months, the universities will expand their enrollment, launch additional degree programs.
UniversityNow is hiring.
21/06/2012: UniversityNow Raises $17.3M in Series B Funding