EdCast, the Knowledge Networks provider that powers social, mobile and cloud-based informal learning for institutions, enterprises, governments and non-profit organizations, claims to have completed a $16 million round of financing. The investment round was led by GE Asset management along with Cervin ventures, SoftBank Capital, Penta Global, and Stanford StartX Fund. In 2014 EdCast got a $6 million funding by SoftBank Capital in a Series A investment round. The latest investment will be used to expand EdCast’s marketing, product development and sales efforts.
Karl Mehta, Founder & CEO, EdCast, says, “We are laser focused on our mission to expand the knowledge economy with curated, contextual bite size knowledge. Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need for daily relevant insights from the world’s foremost experts and influencers in a variety of industries, from tech, health, financial services, higher ed, entrepreneurship and expanding to telecom, banking, media, retail.”
A Stnanford StartX company, EdCast, is known as a knowledge network built to inspire, empower and educate individuals, teams and organizations with curated and contextual bite-size insights called SmartBites, with live access to influencers and Subject Matter Experts. The Series B financing is based on the growth trajectory that EdCart is on. The company recently announced a partnership with Hewlett Packard to power its HP LIFE knowledge community, which has more than 500,000 users from around the world and large Fortune 100 companies like GE, Salesforce, and EMC.
“We are excited about EdCast’s vision, innovation, and the disruptive power of its technology in enterprise knowledge discovery, sharing and learning. 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,” says Carlos Monfiglio, Partner, GE Asset Management.