HotChalk, a Campbell, California-based online education platform serving universities and students across the United States, is to receive a total of approximately $230m in equity funding.
Bertelsmann, the international media, services and education company, is making the majority investment, which is still subject to customary approvals and other closing conditions.
Following the deal, Mohr Davidow Ventures will continue to be a significant shareholder in the company.
Founded in 2004 and led by CEO and Chairman Edward Fields, HotChalk provides solutions to universities that enable them to run online degree programs, including interactive course design and content development tools, marketing, and student recruitment leveraging proprietary data analytics capabilities.
The company enables online master’s and doctoral programs in partnership with seven nonprofit universities.
It supports a total of 33 degree granting programs.