DigitalEd, a Waterloo-based education technology startup, has secured $7 million in bridge financing.
The deal was backed by new and existing investors, including Kevin Weiss, a principal at U.S. private investment firm Dorado Capital Partners.
Founded last year, DigitalEd provides online education solutions designed especially for science, technology, engineering and mathematics (STEM) courses.
Led by President and CEO Jim Cooper, the company will use the funds raised in part to enhance its e-learning platform Möbius, which provides interactive courses, including automated testing and assessment, to global educational institutions and trade schools.
PRESS RELEASE
DigitalEd Secures $7 Million in Bridge Financing
Round Will Further Drive Company’s Vision of Empowering Educators and Students Through Technology
March 19th, 2019
DigitalEd an online education technology startup, is pleased to announce the successful completion of a $7 million bridge round of financing. This new round of funding includes participation from new global investors as well as additional funds from existing ones.
“The timing and size of the financing allows DigitalEd to create repeatable processes in support of our proven sales model, deliver on a more fluid digital content experience, and complete architectural enhancements to our cloud-hosted Möbius platform for scalability”
– Christina Perdikoulias, COO of DigitalEd.
Möbius, an industry leading e-learning platform, provides interactive courses, including automated testing and assessment, to educational institutions and trade schools around the world. It offers a multi-channel approach to learning, going beyond the simple digitization of courseware, ensuring dynamic, interactive experiences for the student, and providing multiple delivery options for the educator.
On the overwhelming excitement and investor interest in DigitalEd, CEO Jim Cooper said: “We believe fundraising is about finding good partners, and we are very excited that this group of experienced, education-focused investors along with our trusted partners, share our vision to drive dramatic improvement in learning through technology.”
With STEM knowledge and skills in particularly high demand, we are excited to partner with DigitalEd, a company at the forefront of the technology progression to modularize delivery of learning, with a differentiating strength in Science, Technology, Engineering, and Math.
– Kevin Weiss, Dorado Capital Partners
This was echoed by Kevin Weiss of Dorado Capital Partners, a large Texas-based office who invested in the financing round: “As in other industries, technology is enabling the unbundling of education, offering tremendous opportunities to make learning more effective and accessible as degrees and courses become modularized. With STEM knowledge and skills in particularly high demand, we are excited to partner with DigitalEd, a company at the forefront of the technology progression to modularize delivery of learning, with a differentiating strength in Science, Technology, Engineering, and Math. DigitalEd’s Möbius platform is already being leveraged by hundreds of institutions globally, and we look forward to supporting their vision to dramatically improve education for students, instructors, and institutions.”
To stay up-to-date on DigitalEd news, announcements and to learn more about our solutions visit www.digitaled.com or contact spaul[at]digitaled[dot]com.