Desire2Learn Raises $85 Million to Fuel Global Expansion

Desire2Learn has raised an $85 million round of financing.

The Series B round of financing was led by an unidentified party and included Omers Ventures, Four Rivers Group, Aurion Capital, New Enterprise Associates, Columbus Nova Technology Partners, and Graham Holding.

The massive round will bolster the Kitchener-based company's overseas expansion. Already the Canadian company has opened offices in Brazil, Singapore, Australia, and Britain.

The funding round is the largest of its kind in Canada so far this year, according to Reuters. In 2012 D2L raised $80 million, mostly from New Enterprise Associates and Omers, both of whom participated in this latest round. The total amount D2L has funded to date is now $165 million.

While the company's high-ups won't discuss valuation, founder and CEO John Baker confirmed that VC firms still hold a minority of D2L's equity. The big round will surely put out rumours that the company plans to go public in the near future.

Desire2Learn employs 800 people worldwide, including 600 in Canada.

D2L Corporation
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

OMERS Ventures
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

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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