MOUNTAIN VIEW — EdCast, which operates a cloud-based learning platform for corporations, has closed an additional $33.6 million from investors that include Softbank, REV Venture Partners, The London Fund, Crescent Enterprises, and Mistletoe, among others, with participation from previous investors, including SSGA, Stanford University and Cervin Ventures.
EdCast also announced it has surpassed two million paid users across hundreds of enterprise and public-sector customers, including HPE, Dell EMC, Schneider Electric, ANZ Bank, Jefferson Health, Mars, Anglo American, PVH, Genpact, ICICI Securities, India’s NASSCOM and the World Economic Forum, among many others. The company is helping lead both a global shift to the cloud and an enterprise transition to AI-powered solutions. EdCast is doing so as corporate demand for upskilling solutions is spiking.
Knowledge workers now face increasing struggles with unified discovery and access challenges across internal and external content sources from multiple cloud applications. EdCast’s Knowledge Cloud platform provides AI-powered contextual content on leading business applications used by billions of knowledge workers worldwide, including Microsoft Office365 (e.g., Word, Excel, PowerPoint), ServiceNow, Salesforce and Slack.
“EdCast is a leader in the fast-growing market for Learning Experience Platforms (LXPs) that deliver AI-powered knowledge and content right in the flow of work,” says industry analyst Josh Bersin, founder of Bersin by Deloitte. “As the $200 billion market for corporate learning continues to expand, EdCast has the potential to grow at accelerating rates.”
EdCast is also known for its ContentExchange, a first-of-its-kind marketplace for corporate learning content providers to reach leading global organizations with information and resources for rapid upskilling. The ContentExchange now includes partners such as edX.org, Regis Group, Harvard ManageMentor, Mandel Communications, and Intuition, as well as Cegos, which was recently announced.