EdCast, Inc., a Stanford StartX Company on a mission to empower individuals, teams and organisation to get smarter using the EdCast Knowledge Media and Intelligence Network has announced that it has completed a $16 million round of financing led by GE Asset Management. Other investors joining with GE Asset Management includes - SoftBank Capital, Cervin Ventures, Stanford StartX Fund and Penta Global. This new capital comes in addition to $6 million Series A round led by Softbank Capital in late 2014.
Karl Mehta, Founder and CEO of EdCast Inc. said, “We are laser focused on our mission to empower enterprises in the knowledge economy with curated, contextual SmartBitesTM (bite size knowledge) used everyday to get smarter in their work. The Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need and demand for our knowledge network to engage employees, partners, and customers with daily relevant insights.”
Carlos Monfiglio, partner at GE Asset Management said, “ We are excited about EdCast’s vision, innovation, and the disruptive power of its technology in enterprise knowledge discovery, sharing & learning. The list of Fortune 500 companies using EdCast is impressive and we believe the Company is on its way to defining and leading a new category in enterprise knowledge and intelligence”.
The Series B financing builds on an exceptional month of growth for EdCast which earlier announced partnership with HP to power its HP LIFE knowledge community of over 500,000 users worldwide and other large Fortune 100 companies like GE, Salesforce, and EMC.