D2L, Inc., a Canadian educational tech company, raised $85m in Series B funding.
Backers included Columbus Nova Technology Partners, Graham Holdings, Four Rivers Group, Aurion Capital, New Enterprise Associates, OMERS Ventures and Silicon Valley Bank, which provided debt financing.
The company, which has now raised $165m, intends to use the funds to scale globally, continue to develop technology and expand its services.
Led by John Baker, President and CEO, D2L created Brightspace, a cloud-based integrated learning platform and launched several new technologies to improve education, including:
– a predictive modelling and data visualization engine to help instructors keep learners on track for success,
– an adaptive learning engine to personalize learning paths,
– an eTextbook platform with expanded publisher partnerships and
– a game-based learning engine.
Its platform is used by more than 1,100 clients and 15 million learners in higher education, K-12, healthcare, government, and the enterprise sector including Fortune 1000 companies. The company has operations in the United States, Canada, Europe, Australia, Brazil, and Singapore.