ExecOnline Raises $5 Million Series A Financing to Expand Its Global Offerings; Enters New Partnership with MIT Sloan Executive Education
Innovative online executive development provider completes Series A financing and establishes its newest top business school partnership.
NEW YORK, Oct. 23, 2014 /PRNewswire/ -- ExecOnline completed its $5 million Series A financing round led by Osage Venture Partners, with participation by New Atlantic Ventures, Kaplan Ventures, Militello Capital, and a number of other investors. In addition, ExecOnline, which currently had partnerships with Columbia Business School Executive Education and The Center for Executive Education at UC Berkeley-Haas, has established its newest partnership with the executive education arm of MIT Sloan, the top-ranked business school of the Massachusetts Institute of Technology.
ExecOnline is the only provider of school-certified online executive education programs featuring multiple elite business schools, and as a result, has built a leadership position in providing executives at large companies with access to highly-interactive online professional development opportunities with a unique mix of enterprise scale and program quality.
Over 1,000 executives from approximately 70 companies are committed to attending ExecOnline's programs with UC Berkeley-Haas and Columbia, with nearly 400 executives from 35 countries participating in Fall 2014 programs launched on October 9th.
In addition to continued investment in the improvement of its existing offerings, the new financing will enable ExecOnline to enrich its cutting-edge enterprise learning platform, forge partnerships with additional top business schools, expand sales and marketing, and scale operations to support its rapid global growth.
According to Nate Lentz, Managing Director of Osage Venture Partners, "The executive education market is ripe for disruption, and Stephen and his team have been doing just that through their learning platform. ExecOnline is transforming the way enterprises develop their executives, and we are excited to help the company accelerate its already tremendous growth and extend its leadership in online executive education."
ExecOnline is collaborating with its newest partner, MIT Sloan, to create the world's leading online program in the area of Operations. The program is currently under development and is scheduled to launch in the Winter of 2015. The program will join ExecOnline's existing portfolio of programs from Columbia Business School and Berkeley-Haas School of Business.
"By providing access to our leading-edge research and world-renowned professors via ExecOnline, we now have the opportunity to extend our mission of helping executives gain abilities to address immediate business challenges using practical business tools and frameworks," said Peter Hirst, Executive Director of Executive Education at MIT Sloan. "Our programs will provide the same rigorous, world-class learning and development that we offer on campus to working executives from around the world."
All ExecOnline programs are powered by the company's proprietary online learning platform featuring on-demand HD video lectures, self-paced application exercises, and opportunities to connect live with professors and executive peers by leveraging online video and collaboration tools. Stephen Bailey, the Founder and CEO of ExecOnline, states, "Our successful capital raise and partnership with MIT Sloan underscore ExecOnline's tremendous momentum as we continue to build our company and strengthen our reputation as the best-in-class provider of online executive development to the corporate enterprise."
ExecOnline empowers leading companies to provide their executives with access to superior development opportunities from the world's top business schools at a fraction of the costs associated with traditional on-campus programs.
For more information, visit www.execonline.com and contact 800-410-EXEC.
Adam Shapiro
VP, Program Operations
ExecOnline, Inc.
[email protected]
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SOURCE ExecOnline, Inc.
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