LANDOVER, Md., April 18, 2012 /PRNewswire/ -- 2tor, Inc. announces securing a $10 million revolving credit line with Comerica Bank. Today's announcement comes on the heels of the company's $26 million Series D financing, closed on April 2, 2012. 2tor is the leader in partnering with prestigious institutions of higher education to deliver rigorous, selective degree programs online. Comerica Bank arranged a $10 million credit facility based on 2tor's strong industry track record and anticipated growth. The new credit line will provide 2tor the flexibility required to fund its growth and execute on strategic initiatives.
"We only develop programs with top-tier universities, such as UNC Chapel Hill, Georgetown and the University of Southern California," says Robert Cohen, Chief Operating Officer at 2tor. "These are world-class online programs that require significant upfront and ongoing capital investments. These funds will allow us to deliver transformative experiences that bring the quality and rigor of great academic institutions online."
"It's an exciting time for the education industry, and we're pleased to work with a company that provides online resources to such high-caliber universities," says Justin Swietlik, Vice President of Comerica.
2tor is based in Landover, MD. To learn more about the company, please visit http://www.2tor.com.
About 2tor, Inc.
2tor, Inc. partners with top-tier universities to deliver rigorous, selective graduate programs online. Founded in 2008 by a unique team of education veterans, the company provides universities with the web technologies, infrastructural support and capital needed to compete in a space previously dominated by mediocre online programs. 2tor is one of the highest-funded education technology startups in the United States. The company has partnered with prestigious research universities to deliver the following groundbreaking online degree programs:
- [email protected]: Master of Arts in Teaching from the University of Southern California Rossier School of Education
- [email protected]: Master of Social Work from the University of Southern California School of Social Work
- [email protected]: Master's in Nursing from Georgetown University School of Nursing & Health Studies
- [email protected]: Master of Business Administration from the University of North Carolina at Chapel Hill's Kenan-Flagler Business School
- [email protected]: Master of Public Administration from the University of North Carolina at Chapel Hill's School of Government
About Comerica Bank's Technology and Life Sciences Division
Comerica Bank's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts. The Technology and Life Sciences Division serves all major U.S. technology centers from offices coast-to-coast, and its headquarters in Palo Alto, California. Comerica Bank is a subsidiary of Comerica Incorporated, a financial services company that is among the 25 largest U.S. banking companies, with assets of $61 billion as of December 31, 2011. For more information, visit www.comerica.com.
Public relations manager, 2tor, Inc.
SOURCE 2tor, Inc.