2tor is already proving that online education can be excellent and we have only just scratched the surface. We are delighted to welcome Highland to our team, who along with Redpoint, Novak Biddle and City Light provide expertise, commitment and support.
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New York, NY (PRWEB) February 16, 2010
2tor, Inc. closed $22 million in Series B financing led by new investor Highland Capital Partners who joins existing venture partners Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital. The company will use the funding from this financing to increase resources dedicated to developing new online programs with additional university partners. In conjunction with the financing, Paul Maeder of Highland will join 2tor’s board of directors.
“2tor is already proving that online education can be excellent and we have only just scratched the surface. We are delighted to welcome Highland to our team, who along with Redpoint, Novak Biddle and City Light provide an immense amount of expertise, commitment and support” said 2tor CEO John Katzman. “With them, we have the ability to build and launch incredible online programs with top-tier university partners that will continue to transform higher education.”
2tor, Inc. partners with top-tier universities to build, administer, and market high quality and innovative online degree programs. As a first university partner, 2tor and the University of Southern California’s Rossier School of Education launched the MAT@USC, a first-of-its-kind Master of Arts in Teaching program delivered online.
“2tor is transforming higher education with its innovative services and platform that enables leading universities to reach students wherever they live,” added Paul Maeder of Highland. “With the most comprehensive high-end solution and partnering programs in the industry, we’re excited to work with this exceptional team as they continue to expand their share of the $70 billion online education market.”
About 2tor, Inc.
Founded by a unique team of education veterans with unparalleled experience, 2tor supplies top-tier universities with the tools, expertise, and global recruiting needed to design and implement online education programs. 2tor’s state-of-the-art technology platforms enhance traditional offline curricula to create transformative instruction using the best educational and Web 2.0 technologies. 2tor also provides the vital, yet often-overlooked, logistical components of any online program. These components include comprehensive student support services from enrollment through graduation as well as practical learning experiences within distant communities around the country. For more information, visit http://www.2tor.com.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great people build great companies. For over twenty years, the firm has taken a sector-focused approach to investing in exceptional healthcare, internet & digital media and technology companies. With $3 billion of committed capital and offices in Boston, Silicon Valley, Shanghai and Geneva, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, CheckFree, Conor Medsystems, Continental Cable, lululemon athletica, Lycos, MapQuest, Navic Networks, Ocular Networks, P.A. Semi, Quattro Wireless, Quigo, Starent Networks, Sybase, Telica and VistaPrint. For more information, visit Highland's web site at http://www.hcp.com.
About Redpoint Ventures
Redpoint Ventures teams up with exceptional entrepreneurs to help build industry-defining technology companies. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information, visit http://www.redpoint.com.
About Novak Biddle Venture Partners
Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. Novak Biddle seeks business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. With deep expertise in the space, NBVP’s additional education investments include: Blackboard (Nasdaq: BBBB), Spectrum K12, Intelliworks and Starfish. For more information, visit http://www.novakbiddle.com
About City Light Capital
City Light Capital is a venture capital firm seeking market-based solutions to major social problems. City Light invests in early stage, for-profit businesses that create solutions in Safety and Security, Education and Media, and Energy and the Environment. The firm is headquartered in New York, NY. For more information, visit http://www.citylightcap.com.
About Signal Hill Capital Group
Signal Hill provides investment banking services, institutional brokerage, and equity research for small and mid-cap companies and their investors. Signal Hill’s focus is on small and mid-cap companies in business and healthcare services, communications services and technologies, education, financial technology, internet infrastructure, media, software, and property and casualty insurance. Signal Hill Capital Group LLC, a FINRA Member, is headquartered in Baltimore and has offices in Boston and San Francisco. For more information, visit http://www.signalhill.com.