Funding Will Increase Resources Dedicated to Building Online Programs with Top Universities
New York, NY -- 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.”