Dive Brief:
- Echo360 Inc., an education technology company, has raised $18 million from investors to help sell and market its just-launched software-as-a-service platform.
- The company’s technology automates lecture-style classes by archiving video recordings of the classes, and helping students take notes and connect online with professors other students, the Wall Street Journal reported.
- With the latest round of investment, the company now has $83 million in funding from outside investors.
Dive Insight:
Echo360’s new cloud platform, which launched in September, is considered a significant improvement from the company’s previous platform, allowing professors to use analytics to measure student comprehension and administrators to use various measurements to assess classes. The company’s technology is used by 630 schools and nearly 2 million students. Because of the investment needed to upgrade the platform, the company doesn’t expect to be profitable until 2015 or 2016.
