EdCast Raises $16 Million Series B to Expand its Leadership in Knowledge Network
Rapid adoption by Fortune 500 companies and an award-winning platform drives growth
MOUNTAIN VIEW, Calif. – April 14, 2016 – EdCast, a Stanford StartX company empowering individuals, teams and organizations using the EdCast Knowledge Media & Intelligence Network, today announced it has completed a $16 million round of financing led by GE Asset Management. Other investors joining GE Asset Management include SoftBank Capital, Cervin Ventures, Stanford StartX Fund and Penta Global. This new capital comes in addition to $6 million Series A round led by Softbank Capital in late 2014.
“We are laser focused on our mission to expand the knowledge economy with curated, contextual bite size knowledge,” said Karl Mehta, Founder & CEO of EdCast. “Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need for daily relevant insights from the world’s foremost experts and influencers in a variety of industries, from tech, health, financial services, highered, entrepreneurship and expanding to telecom, banking, media, retail.”
“We are excited about EdCast’s vision, innovation, and the disruptive power of its technology in enterprise knowledge discovery, sharing and learning,” said Carlos Monfiglio, partner at GE Asset Management. “The list of Fortune 500 companies using EdCast is impressive and we believe the Company is on its way to defining and leading a new category in enterprise knowledge and intelligence.”
The Series B financing builds on an exceptional month of growth for EdCast, which earlier announced a partnership with HP to power its HP LIFE knowledge community of over 500,000 users worldwide and other large Fortune 100 companies like GE, Salesforce, and EMC.
EdCast is a knowledge network built to inspire, empower & educate individuals, teams and organizations with curated and contextual bite-size insights (SmartBitesTM), with live access to influencers and Subject Matter Experts. EdCast Knowledge NetworksTM powers social, mobile and cloud-based informal learning for world-class institutions, enterprises, governments and nonprofits to enable millions to become lifelong learners.
The EdCast executive team has a track record of building large-scale transformational technology; all are passionate about the global impact of mobile and online knowledge-sharing. EdCast is a Stanford StartX company backed by Tier One VC firms and advised by visionaries and global thought leaders like Mitch Kapor and Professor Jeffrey Sachs.
The Company is based in Mountain View CA, with offices worldwide. To learn more, visit http://edcast.com.
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