2tor, Inc., a Landover, MD-based education start-up, has closed a $26m Series D financing.
The round was led by an affiliate of the Hillman Company, with participation from new investors SVB Capital and WestRiver Capital and existing investors Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital.
The company intends to use the funding to launch new partnerships with select universities to deliver degree programs to students both domestically and abroad.
This investment brings 2tor’s total venture funding to $96m.
Founded in 2008 and led by Co-founder and CEO Chip Paucek, 2tor provides institutions of higher education with degree programs online. Its offerings include technology infrastructure, program implementation and student retention services.
The company’s learning management system features technologies that engage students in social networks, live classroom sessions that connect students and renowned faculty. It also works with university partners to provide field placements and professional services for its students.
2tor recently announced the launch of its fifth partner program, a Master of Public Administration from the University of North Carolina-Chapel Hill School of Government, and plans to announce a sixth partnership later this spring.
The company currently delivers the following online degree programs:
– MAT@USC: Master of Arts in Teaching from the University of Southern California Rossier School of Education
– MSW@USC: Master of Social Work from the University of Southern California School of Social Work
– Nursing@Georgetown: Master’s in Nursing from Georgetown University School of Nursing & Health Studies
– MBA@UNC: Master of Business Administration from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School
– MPA@UNC: Master of Public Administration from the University of North Carolina at Chapel Hill’s School of Government
FinSMEs
02/04/2012