EDLIO, a Los Angeles-based web design company has raised $40 million in venture capital from L Squared Capital Partners, VentureBeat reported. Some 4,300 schools and districts have made websites using Edlio, which provides a user-friendly CMS and responsive designs. Founded in 2011, Edlio claims its product allows for easier communication among teachers, administrators, parents and students.
According to the VentureBeat, Edlio will invest in sales and marketing, growth overseas and product development with its funding. The company is also on the market to acquire K-12 administration software, like CRMs, data management and payment edtech companies.