US-based media company Discovery Communications has led US-based social learning company Grockit to raise $20m.
Discovery Communications was joined in the round by venture firms Summit Group, Atlas Venture, and Benchmark Capital, as well as investment firms Integral Capital Partners and GSV Capital Corp.
JB Perrette, chief digital officer, Discovery Communications, said: “As Discovery focuses its digital strategy around strengthening its position in video as the #1 nonfiction media company across all screens, we also see strategic growth opportunities in select investments in the next generation knowledge space. Discovery’s commitment to igniting people’s curiosity and passion for learning is a natural fit with Learnist’s unique knowledge platform and model that encourages passionate audiences to share what they know and learn what they don’t. Discovery is proud to lead this round of financing and excited about the many ways that our strategic investment will help to expand the reach and further development of the Learnist platform.”
San Francisco-based Grockit has also received funding from NewSchools Ventures and angels including Reid Hoffman, co-founder of US-based social network LinkedIn, and Mark Pincus, founder of gaming company Zynga.
Last year Grockit raised $7m in its series D, according to news provider TechCrunch. The company’s series C raised $7m TechCrunch added. Grockit raised $8m in its series B in 2008, which took its total funding raised at that time to $10.7m.
Grockit product Learnis, which allows users to curate digital and online, was launched in May 2012.
Grockit was founded in 2007 by Farb Nivi, a former teacher and academic director at Kaplan.