Boston-based online professional development firm Esme Learning Solutions has raised $15 million in new funding. Previous investor Adit Ventures is committing a further $10 million with ed tech firm ThriveDX investing $5 million.
Esme stated that the funding will help it expand its existing portfolio of courses with partners such as the Massachusetts Institute of Technology, Saïd Business School, University of Oxford, Cambridge Judge Business School, University of Cambridge, and Imperial College Business School. It will also invest in technology and data analytics.
David Shrier, chief executive of Esme Learning Solution said: “This new investment will enable Esme Learning Solutions to continue to drive innovation and growth in the online executive education market, enhance the student experience and ensure that we meet the challenges and opportunities of this sector over the coming years. We are grateful for the continued support of Adit Ventures and welcome the strategic opportunities and value that ThriveDX will bring as we scale.”
Michael Block, managing director of Adit Ventures added: “We’ve been delighted to see the progress Esme Learning Solutions has made since our initial investment last year and believe that additional investment at this point will help supercharge growth and returns for our investors. The edtech sector is rich with opportunity and we look forward to seeing what David, Beth Porter, co-founder and COO and the Esme team can create over the next few years.”
Dan Vigdor, founder and chairman of ThriveDX commented: “As a leading ed tech and cyber training solution provider, we’ve been watching the progress of Esme Learning Solutions with great interest. Their online courses enjoy almost 100% completion rates and great feedback from partners and students alike, with industry-leading net promoter scores, bolstered by the unparalleled credentials of the leadership and academic teams. We believe the time is right for us to start a strategic partnership together with Esme, an organisation that shares the same values of putting the learner’s experience and outcome at the forefront, as the demand for online learning continues to grow. This move will enable ThriveDX to accelerate its mission of answering the talent gap challenge every company is facing, by training a pipeline of talent to keep pace with the real-time changes in technology.”
The funding round follows Esme Learning Solutions’ acquisition of AI collaboration platform Riff Analytics.
Date published: 15 December 2021