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."