HOTCHALK is close to scoring an investment from German media conglomerate Bertelsmann in return for giving up a minority stake, reports Reuters. The Campbell, CA-based company that helps universities create online degree programs has been rumored to be raising “at least” $75 million for its next funding round.
Expect to see more from Bertelsmann. Following its undisclosed investment in Synergis Education in March 2015, company CEO Thomas Rabe has expressed his intent for education to become “a third pillar of income for Bertelsmann alongside media and services.” Bertelsmann has already invested in Udacity and acquired Relias Learning, a North Carolina-based online training company, in 2014. It has also contributed to education investment funds including University Ventures in the US and the Brazil-based Bozano Educacional fund.