Flat World Education, a Washington, D.C.-based provider of learning solutions, received $9.5m in financing.
The round was led by Bessemer Venture Partners with participation from existing investors Valhalla Partners, Tribeca Venture Partners, Penguin Random House Holdings and Bertelsmann Digital Media Investments.
The company will use the funds to grow operations.
Founded in 2007 and led by James Rianhard, president, and Christopher Etesse, CEO, Flat World Education offers education content and software for higher education institutions to provide innovative
courses and degree programs.
Its e-book publishing platform allows (more than 1 million) students to have access to expertly authored textbooks in 77 countries.
In addition to the funding, the company announced a development partnership with Brandman University, a private, non-profit university based in California, which now can offer online, competency-based bachelor of business administration (BBA) degree delivered entirely on a mobile device.