NEW YORK, July 27, 2017 /PRNewswire/ -- ExecOnline announced today that it secured a $16 million Series B investment round. The round was led by NewSpring Growth Capital, NewSpring Capital's dedicated growth and expansion stage fund. Existing investors Osage Venture Partners, New Atlantic Ventures, Kaplan, and Thomas Lehrman, co-founder of Gerson Lehrman Group, also participated in the round.
Proceeds from the round will be used to extend ExecOnline's market leadership through expanded sales and marketing capabilities, and to grow its suite of enterprise-focused online leadership development offerings.
ExecOnline partners with the world's best business schools to deliver online leadership development programs that rapidly produce measurable organizational impact. Founded in 2012, ExecOnline works with over 150 large enterprises from around the world, including 10 percent of the Fortune 1000.
ExecOnline's programs combine the quality and engagement of in-person leadership development with the scale and measurability of online leadership development. The company's online programs consist of on-demand video lectures, self-paced application exercises, and live online collaboration with faculty and a global community of high-achieving professionals. While participating in the programs, leaders develop a project that addresses a critical need or challenge for their organization.
"We have found a great partner in NewSpring. Their support will enable us to extend our leadership in the online enterprise learning space through the delivery of transformational leadership development programs to organizations around the world," said Stephen Bailey, Founder and CEO of ExecOnline.
"ExecOnline is solving a large and growing pain-point for enterprises seeking to invest in and train their leadership teams in a scalable, yet effective way," said Brian Kim, Principal at NewSpring. "With a solution purpose-built for each customer and an impressive management team, we believe ExecOnline is well-positioned for rapid growth and continued market leadership."
As part of the transaction, Brian Kim of NewSpring Capital will join ExecOnline's Board of Directors.
ExecOnline partners with top business schools, including Berkeley-Haas, Columbia, IMD, MIT-Sloan, Wharton, and Yale, to rapidly deliver online leadership development programs that generate lasting organizational impact. ExecOnline's university-certified programs in leadership, strategy, innovation, operations, and more feature dynamic content tailored to the unique corporate objectives of their clients. Programs consist of on-demand video lectures, self-paced application exercises, and live online collaboration with faculty and a global community of high-achieving professionals. ExecOnline has delivered transformational leadership development experiences to more than 150 organization and 7,000 business leaders. For more information, visit www.execonline.com.
For more information or to schedule an interview with Stephen Bailey, please contact Crystal Grandison at 844.400.3932 or firstname.lastname@example.org.