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2tor secures USD22m in series B funding

2tor, a provider of online education services to universities, has closed USD22m in series B financing led by new investor Highland Capital Partners along with existing partners Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital.

The company will use the funding to increase resources dedicated to developing new online programmes 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,” says 2tor chief executive John Katzman. “With them, we have the ability to build and launch incredible online programmes with top-tier university partners that will continue to transform higher education.”

2tor partners with universities to build, administer and market online degree programmes. As a first university partner, 2tor and the University of Southern California’s Rossier School of Education launched the MAT@USC, a Master of Arts in Teaching programme delivered online.

“2tor is transforming higher education with its innovative services and platform that enables leading universities to reach students wherever they live,” says Maeder. “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 USD70bn online education market.”

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