Digital learning platform Esme Learning Solutions has closed a $7.5 million Series A financing round led by Adit Ventures, a venture capital firm with a technology investment focus.
Boston, Massachusetts and London-based Esme Learning Solutions was formed in 2019 by Beth Porter and managing director David Shrier to deliver online executive education in partnership with universities.
Esme Learning Solutions stated the funds will support its growth across all its operations, including headcount to course offerings. The funding will also be dedicated to developing Esme Learning’s course methodology and core artificial intelligence technology, which includes developing more tools underpinned by AI.
Shrier said: “Digital learning is growing at a rapid rate – 400% faster than the general education market – and the growth has only accelerated during the pandemic. Now, there’s a sense of urgency to improve the effectiveness of online learning. With specialised AI, online learning can be highly customised and personalised. Esme Learning uses new kinds of AI systems to deliver tangible career impact, helping universities, corporations, and governments foster the workforce of the future.”
Michael Block, managing director at Adit Ventures and Esme Learning board member, added: “Esme Learning has a clear pathway for success as the only digital learning company to implement an AI-enabled platform working in conjunction with top universities that creates a better learning experience. Esme Learning’s rapidly growing portfolio of courses with the leading universities of the world creates a compelling investment opportunity for us, expanding on our thesis that AI brings real transformation to the future of digital learning. We’re particularly excited to back such experienced entrepreneurs with deep domain expertise in education, cognitive science, and AI.”
In conjunction with this funding round, former vice provost of the University of Pennsylvania Lynn Hollen Lees and former president of Bad Boy Entertainment Jon Cropper will be joining the Esme Learning advisory board.
Date published: 29 January 2021