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Online education provider 2tor closes $10m Series A venture round

22 Jun 2009

2tor, Inc, an online education software programs provider, has closed $10m in Series A financing led by Redpoint Ventures with co-investments from Novak Biddle Venture Partners and City Light Capital.

2tor partners with top-tier universities to build, administer, and market high quality and innovative online degree programmes. Currently, 2tor has partnered with the University of Southern California’s prestigious Rossier School of Education to launch MAT@USC, a first-of-its-kind Master of Arts in Teaching programme delivered online.

With Signal Hill Capital acting as 2tor’s financial advisor, the company will use the funding from this financing to increase resources dedicated to student recruitment efforts and marketing.

In conjunction with the financing, 2tor has added Greg Martin, a partner with Redpoint Ventures, and Philip Bronner, a general partner with Novak Biddle Venture Partners, to its board of directors.

“2tor is revolutionising higher education. By leveraging the full power of the next generation web and its deep understanding of higher education, 2tor delivers a highly immersive and interactive classroom experience to online students worldwide,” said Greg Martin, partner with Redpoint Ventures. “2tor’s innovative platform and partnering programme propels elite universities to the forefront of e-learning, enabling them to reach more students and extend the power of their brand and academic excellence.

Redpoint Ventures is headquartered in Menlo Park, California and has offices in Los Angeles and Shanghai, China.

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