Educational Software - Monday, February 4, 2008
GlobalScholar Raises $27M And Buys Excelsior Software
Bellevue, WA's GlobalScholar.com has raised $27M and is buying an educational software maker Excelsior Software. GlobalScholar sells tools to educational institutions meant to improve teaching capabilities as well as online tutoring. Excelsior meanwhile says it has more than 1,000 school-district customers for its student assessment products.
Existing investors Knowledge Universe Education and Ignition Partners participated in the round. GlobalScholar has raised $42.5M to date. It's getting to be a big company. GlobalScholar employed 50 in Bellevue plus 100 in India and Excelsior had a head count of 60 in Colorado.
GlobalScholar's CEO Kal Raman is a think-big leader who was SVP at Amazon and CEO of DrugStore.com. Needless to say, much is hinging on the success of GlobalScholar for Raman and his venture backers.
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