CASTING A SPELL: EdCast, a Mountain View, Calif.-based provider of an online educational platform for business and enterprise clients, has raised $33.6 million in a Series C funding round. Investors include Softbank, REV Venture Partners, The London Fund, Crescent Enterprises and Mistletoe; existing backers SSGA, Stanford University and Cervin Ventures also participated.
In its press announcement, the company claims aspirations to become the “operating system for the knowledge economy.” In other words, EdCast aims to help corporate employees upskill and keep current on the different software tools they use for their jobs (such as Microsoft Office, Salesforce and Slack). Its flagship software is used by organizations to collect and curate educational content, which can be delivered to employees via an AI-powered recommendation engine. The company also offers a marketplace where third-party training providers can sell their materials.
Founded in 2013, EdCast claims it has more than two million paid users from corporate customers including Hewlett Packard, Dell EMC and the World Economic Forum. The company has raised more than $66 million to date.
