US-based learning management system Schoology closed a $15m series C round on Tuesday led by Intel Capital, the investment arm of chipmaker Intel.
The other investors in the round included new investment from Great Oaks Venture Capital, Great Road Holdings and BDS Venture Fund. FirstMark Capital and Meakem Becker Venture Capital also participated, having previously taken part in Schoology’s $6.2m series B round in April 2012.
Schoology’s funding to date also includes a $1m round from undisclosed investors in February 2012, a $2m series A round in June 2010 from FirstMark and Meakem Becker, and a $300,000 seed round in May 2009.
“We are in a golden age for education technology, and Schoology is at the forefront, driving innovation in the market,” said Schoology chief executive Jeremy Friedman. “Intel is one of the largest names in global education, and their investment represents significant validation for the work we are doing.”
Sumeet Jain, a director at Intel Capital, will join Shoology’s board of directors in conjunction with the funding, which will be used to create new features in the company’s product and expand into new markets.