Desire2Learn Raises $80 Million Round from NEA and OMERS Ventures

Posted by Rob Lewis

Kitchener's Desire2Learn announced today the closing of an $80 million strategic round of financing from New Enterprise Associates (NEA) and OMERS Ventures.

The investment will bolster Desire2Learn's customer service and cloud infrastructure, support global growth, and accelerate its development of industry-leading education technologies.

This $80 million financing, which marks both Desire2Learn's first round of financing and the largest-ever venture capital investment in a Canadian software company, ensures the company's ability to accelerate global growth as an independent entity. Funds will be used to bolster the company's customer service and cloud infrastructure, both in support of Desire2Learn's current customer base and as the company expands globally.

With more than 700 clients and 8 million learners in higher education, K-12 and the corporate sector, Desire2Learn has proven its platform across some of the world's largest statewide and countrywide deployments of learning technology solutions.

"The need for quality education has never been stronger than right now," said John Baker, President and CEO, Desire2Learn. "That demand, along with technology serving as a catalyst for change, is transforming education from the traditional classroom experience into a highly personalized, lifelong learning movement. From kindergarten to the corporate environment, Desire2Learn is committed to developing the new technologies that will not only increase the quality of education, but also make it available to everyone. This significant round of funding provides us with additional resources to address new markets, while maintaining our position as an independent, client-centric business focused on innovation."

"The combination of Desire2Learn's differentiated technology, proven management team, outstanding customer base and rapid revenue growth makes them uniquely positioned to deliver on the promise of the digital classroom," said Howard Gwin, Managing Director of OMERS Ventures. "We look forward to supporting the company's growth as a leader in education technology."

Company:
D2L Corporation
Website:
http://www.D2L.com/careers/jobs
Location:
Kitchener-Waterloo, Ontario, Canada

Founded in 1999, D2L is a leader in providing innovative eLearning solutions to academic and other leading organizations around the world. more

Company:
OMERS Ventures
Website:
http://www.omersventures.com
Location:
Toronto, Ontario, Canada

We're OMERS Ventures and we are as passionate about your success as you are about your company. We are looking for like-minded partners who have a shared vision of building a vibrant and successful Canadian knowledge economy. OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds with over $53 billion in net assets. more


blog comments powered by Disqus

Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




Who's Hiring



Recent Comments

Powered by Disqus