When I started D2L it was with the goal to help realize the potential in people. This is what’s driven our employees, clients and strategic partners and put us on a path to transform the teaching and learning experience. Over the past 15 years, we’ve made tremendous progress on our journey and commitment to create a brighter future. Brightspace technology is currently used by over 1100 clients and 15M users in 25 countries.
Today, I’m thrilled to announce that our growth and path to transform the learning experience will be further propelled with an $85 million Series B financing round. This financing is led by a large institutional asset manager with participation from Columbus Nova Technology Partners, Graham Holdings, Four Rivers Group and Aurion Capital and existing backers New Enterprise Associates and OMERS Ventures. Silicon Valley Bank also provided debt financing in this round. This round brings D2L’s total funds raised to $165 million.
This financing is going to help D2L continue to grow and focus on the things that matter. We’ve moved well beyond simply transitioning content and teaching to the web – we’re helping our clients overcome some of the biggest challenges facing education and workforce development today. We’re focused on helping our clients improve productivity, learner achievement and satisfaction, increase retention and graduation rates and inspire greater engagement overall. To support this focus, we’ve made a number of significant updates to our cloud-based integrated learning platform and product offerings this year. These include an enhanced ePortfolio, Student Success System which leverages predictive modelling and data visualization engine, innovative adaptive learning engine D2L Leap, new e-textbook platform partnerships and a new game-based learning engine. This latest financing round will help us continue to deliver these personalized learning solutions, but in addition it will help us scale faster globally and expand our services.
I couldn’t be more excited about the potential this brings and our opportunity – together – to create a brighter future.