2tor Raises $32 Million In Series C
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2tor is an online education website that is based in New York City. The company has raised $32 million in Series C funding led by Bessemer Venture Partners. Previous investors that participated in this round include Highland Capital, Redpoint, City Light, and Novak Biddle. 2tor has raised a total of $65 million. 2tor is pursuing the higher education market and is partnering with graduate programs. 2tor plans on providing a technology platform for higher graduate programs to offer classes online.
2tor’s first partner is the University of Southern California, which will use 2tor for its Masters in Teaching and Social Work classes. Next year 2tor will be launching a nursing program with Georgetown University and MBA classes at UNC-Chapel Hill. Before University of South California started using 2tor, they had 80 students in the Masters of Teaching program. Today they have 1,500 students in the program. These students are in the program from across 45 states and 28 countries. The online students all pay the same full tuition and they get the same degree. 2tor runs the course websites and provides students with a webcam. 2tor shares tuition revenue with the schools.