Dive Brief:
- Schoology, a learning management system, has raised $15 million from several sources in its latest round of funding as it continues its expansion into the K-12 and higher education markets.
- Among the investors: Intel Capital, Great Oaks Venture Capital, Great Road Holdings, FirstMark Capital and Meakem Becker Venture Capital. Sumeet Jain, an investment director at Intel, will have a seat on the company's board of directors.
- Schoology’s total capital raised is now $25 million.
Dive Insight:
Schoology said in a press release that it will use the funding to scale up operations, expand into new markets, and build out new features. The platform has 5 million users across 50,000 schools. Among its recent accomplishments, Schoology won three awards at the 2014 SIIA CODiE Awards, Uruguay selected the learning platform for the 620,000 students in its national education initiative and Colorado State University's Global Campus will collaborate with the company on a learning management system for its online university. The New York company’s last capital-raising announcement, of $6 million in April 2012, had brought its previous total to $9.3 million.