EdCast Announces $34 Million in Funding Along with New Customer, Partner and User Milestones
EdCast’s Knowledge Cloud surpassed two million paid users across numerous Global 2000 enterprises, garnering investment from Softbank, REV Venture Partners, London Fund, Crescent Enterprises and others
MOUNTAIN VIEW, Calif., December 6, 2018-- EdCast, known as the operating system for the knowledge economy, is excited to announce it has closed an additional $33.6 million from investors that include Softbank, REV Venture Partners, The London Fund, Crescent Enterprises, and Mistletoe, among others, with participation from previous investors, including SSGA, Stanford University and Cervin Ventures.
EdCast also announces it has surpassed two million paid users across hundreds of enterprise and public-sector customers, including HPE, Dell EMC, Schneider Electric, ANZ Bank, Jefferson Health, Mars, Anglo American, PVH, Genpact, ICICI Securities, India’s NASSCOM and the World Economic Forum, among many others. The company is helping lead both a global shift to the cloud and an enterprise transition to AI-powered solutions. EdCast is doing so as corporate demand for upskilling solutions is spiking.
Knowledge workers now face increasing struggles with unified discovery and access challenges across internal and external content sources from multiple cloud applications. EdCast’s Knowledge Cloud platform provides AI-powered contextual content on leading business applications used by billions of knowledge workers worldwide, including Microsoft Office365 (e.g., Word, Excel, PowerPoint), ServiceNow, Salesforce and Slack. EdCast also announced its Knowledge Cloud integration with Box this past summer, and the company will be announcing additional integrations in Q1, 2019.
“EdCast is a leader in the fast-growing market for Learning Experience Platforms (LXPs) that deliver AI-powered knowledge and content right in the flow of work,” says industry analyst Josh Bersin, founder of Bersin by Deloitte. “As the $200 billion market for corporate learning continues to expand, EdCast has the potential to grow at accelerating rates.”
EdCast is also known for its ContentExchange, a first-of-its-kind marketplace for corporate learning content providers to reach leading global organizations with information and resources for rapid upskilling. The ContentExchange now includes partners such as edX.org, Regis Group, Harvard ManageMentor, Mandel Communications, and Intuition, as well as Cegos, which was recently announced.
“With this funding, along with achieving these milestones and partnerships, EdCast’s focus on providing knowledge and training fully integrated in the flow of work is coming to fruition faster than ever,” says Karl Mehta, CEO and Founder of EdCast. “We appreciate the great investor support and look forward to expanding our efforts in meeting our customers’ needs and growing worldwide.”
“EdCast represents a significant shift in the way all forms of learning and knowledge are discovered, personalized and consumed in the workplace,” says Tony Askew, Founder Partner of REV Venture Partners. “We are thrilled to play a role in fueling EdCast’s tremendous expansion into multiple industry segments, as organizations everywhere look for ways to supercharge their human capital and enrich the careers of their knowledge workers.”
EdCast is the AI-powered Knowledge Cloud solution for unified discovery, personalized learning and knowledge management across the enterprise. Its award-winning platform is used internationally by Global 2000 companies and large government organizations to solve the discovery and curation problems across all external and internal knowledge sources. EdCast’s offerings include its Learning Experience Platform (LXP) and MyGuide’s in-app guides, intelligence and automation for business software. Follow on Twitter @EdCast.
If you would like more information, please contact Philip Levinson at PR@edcast.com
Philip Levinson, Vice President, Marketing
Venture Capital Database