ExecOnline (EXO), a US-based provider of leadership and personal development courses, has completed an $18m series C round featuring educational services provider Kaplan.
Private equity firm ABS Capital Partners led the round, which was also backed by New Spring Capital, Osage Partners and New Atlantic Ventures.
Founded in 2012, EXO offers leadership development courses in partnership with established business schools. It plans to put the series C proceeds toward expanding its range of courses and increasing sales and marketing.
Stephen Bailey, ExecOnline’s founder and chief executive, said: “EXO is poised to continue playing a pivotal role in online leadership and development initiatives across the enterprise ecosystem.
“In a world where talent is at a premium and the business environment is dynamic, organisations are looking to further develop their senior leaders with pragmatic programs that increase performance and retention.”
The latest round took the company’s overall funding to more than $41m, NewSpring Growth Capital having led a $16m series B in August 2017 that included Kaplan, Osage Venture Partners, New Atlantic Ventures and Thomas Lehrman.
Kaplan’s corporate venture capital subsidiary, Kaplan Ventures, had previously joined Osage Venture Partners, New Atlantic Ventures and Militello Capital to invest $5m in EXO in 2014.
