Iversity, the Germany-based cross-institutional academic networking platform, closed its series A round on 11th August, raising $1.6m.
The financing was provided by venture capital firm bmp Media Investors, a division of the BMP investment management firm that is 10% owned by management consultancy Roland Berger Group, and BFB Frühphasenfonds Brandenburg, a venture fund set up by a state-backed development bank. Although details of BFB’s stake size remain undisclosed, BMP acquired a 10.1% stake through the transaction.
Iversity claims to be the first software-as-a-service platform for e-learning in Europe and helps students and academics to manage their material and interact online. Iversity plans to invest the capital in technologically upgrading its service, marketing, and building a European partner network with view to expanding its service across the continent.
Jonas Liepmann, president of Iversity, said: ‘The investment will provide us with the necessary financial cushion we need to develop Iversity sustainably for the coming years. We see a great deal of potential to improve teaching and research with innovative online tools, and are excited to take our current beta version to a new level.’