US-based learning management system provider Schoology raised $32m yesterday in a series D round led by growth equity firm JMI Equity and backed by Intel Capital, chip maker Intel’s investment vehicle.
Venture capital firm FirstMark Capital and investment firm Great Road Holdings also participated in the round.
Founded in 2009, Schoology operates a cloud-based subscription platform that enables school districts, colleges and universities to offer a personalised experience to students by managing courses, assessment and collaboration. The platform also includes analytics tools.
The product is currently available in more than 130 countries and has more than 12 million users across more than 1,000 education providers. The series D capital will go towards product engineering and further global expansion.
Schoology has now raised a total of $57m in equity, including a $15m Intel Capital-led series C round in June 2014 that also included Great Oaks Venture Capital, Great Road and BDS Venture Fund. FirstMark and Meakem Becker Venture Capital provided its earlier funding.