Accel, Spectrum Put Up $103M To Back Online Learning Co.

Law360, New York (January 16, 2013, 4:27 PM EST) -- Tech-focused private equity firms Accel Partners and Spectrum Equity have made a $103 million investment in online learning center, the company said Wednesday, the latest private or growth equity deal in digital education.

The size of the stake was not disclosed, but each firm got a board seat, with Accel now holding two. Meritech Capital Partners also participated.

The investment is the first ever outside funding in’s 17-year history, an eternity in startup time. Founded in 1995, the company provides online training through a...
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