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CYPHER LEARNING, a leading provider of learning management systems ("LMS") for businesses and educational institutions, confirmed today that it had raised $40 million in growth equity funding from Invictus Growth Partners ("Invictus").
FREMONT, CA: CYPHER LEARNING, a leading provider of learning management systems ("LMS") for businesses and educational institutions, confirmed today that it has raised 40 million dollars in growth equity funding from Invictus Growth Partners ("Invictus"). The funds will be helpful to boost sales, marketing, and development of the company's cutting-edge learning platform, as well as to increase profitability. John DeLoche, Co-Founder and Managing Partner of Invictus, will join the Board of Directors of CYPHER LEARNING.
Graham Glass, CEO and Founder of CYPHER LEARNING said: "Our mission is to innovate in education and have a major impact on the way people teach and learn. We bootstrapped the business to profitability so had a high bar in terms of bringing on an equity partner that would bring more than just capital. Invictus is the perfect partner for us, bringing deep operating expertise, a broad network, and unique data science resources that will enhance our platform and help us scale faster. We are excited to have Invictus as a partner as we continue to accelerate our vision of providing enterprises and educational institutions worldwide with the best online teaching and learning experience."
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CYPHER LEARNING is the only firm that offers a learning management system (LMS) for all significant e-learning industries. MATRIX LMS for Businesses, NEO LMS for Schools and Universities, and INDIE LMS for Entrepreneurs are the company's three award-winning products. More than 20,000 organizations use the tools, which are accessible in more than 40 languages. Even though the global LMS industry, expected to be worth more than 21 billion dollars, remains fragmented and filled by outmoded, small-scale organizations that have not kept up with the current needs of businesses and educational institutions. Because of its intuitive user experience, robust functionality, and innovative approach to teaching and learning, CYPHER LEARNING's leading-edge learning platform continues to gain traction in this enormous industry, creating tremendous growth potential.
John DeLoche, Co-Founder and Managing Partner at Invictus Growth Partners, said: "CYPHER LEARNING's platform brings many benefits to enterprises and educational institutions, including ease of use, consistency of learning, innovative tracking and reporting, increased engagement, and better learning results. Graham and his leadership team have created a world-class learning platform with innovative automation, mobile, social, and gamification features that is built to scale and lead the space across all sectors. We are honored to partner with CYPHER LEARNING and look forward to working with them to achieve their mission."
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