EdCast, the online and mobile platform for distributing educational content from a network of industry experts, has raised in its latest round of funding led by GE Asset Management. The funding will use to help educational institutions, educators, enterprises and governments worldwide to collaborate with each other.
Other investors joining with GE Asset Management includes – SoftBank Capital, Cervin Ventures, Stanford StartX Fund and Penta Global.
“We are laser focused on our mission to empower enterprises in the knowledge economy with curated, contextual SmartBites (bite size knowledge) used everyday to get smarter in their work. The Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need and demand for our knowledge network to engage employees, partners, and customers with daily relevant insights,” said Karl Mehta.
“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 in a statement. “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.”
Founded in 2013 by serial entrepreneur Karl Mehta, EdCast is a knowledge network built to inspire, empower & educate individuals, teams and organizations to get smarter with daily curated & contextual bite-size insights with live access to influencers and Subject Matter Experts.
On its consumer and enterprise channels, EdCast now has close to 1 million users that are accessing the company’s educational content every day, according to Mehta. And the company has partnerships with leading universities to provide mobile access to some of the best professors in the world who are providing lessons culled from their own classes.
So far, the company has seen the most success on the enterprise front, according to Mehta, where the user base is growing at double-digits month-over-month.
Currently, EdCast offers its business education service to companies in IT services, consulting, healthcare and manufacturing, but it intends to expand into telecommunications, consumer media, banking and financial services, and retail in the coming months, according to Mehta.
EdCast has raised money in the past from Penta Global, SoftBank Capital and Cervin Ventures. In total, the company has raised $22 million to pursue its vision to provide educational tools for lifelong learning.