2tor has announced that they have raised $10 million in Series A funding led by Redpoint Ventures and was co-invested by Novak Biddle Venture Partners and City Light Capital. The company was founded by Princeton Review Inc. founder John Katzman. 2tor is an online education company that helps universities manage online courses.
“2tor is proving that online education can be excellent and innovative. We are delighted to have Redpoint, Novak Biddle, and City Light on our team, as well as the expertise, commitment and perspective of their partners,” stated Katzman in a press release. “With them, we will continue to scale up our first program, ready the launch of our second, and step up to the role as the bridge between great universities and online learning.”
As part of the funding, Redpoint Partner Greg Martin and Novak Biddle General Partner Philip Bronner will be joining the 2tor Board of Directors.
SocialVibe announced earlier yesterday that they have raised $8 milion Series B in funding from JAFCO Ventures and Redpoint Ventures. SocialVibe is a social media company that has social network users create advertising badges on social networks. Advertisers using the badges include Sprint, Adobe, and Coca-Cola.
“SocialVibe has brought soul to the intersection of social media and online advertising with a solution that resonates with advertisers, publishers and members,” stated Greg Martin, Partner of Redpoint Ventures. “SocialVibe is more than a great business, they are a force for good.”
Through this round of funding, Managing General Partner of JAFCO Ventures Joe Horowitz will be joining SocialVibe’s board of directors. SocialVibe has grown to about 500,000 members. These members are sharing brand badges with about 10 million of their friends on social networks. In turn this creates 100 million endorsed impressions.
“Today’s funding round represents a tremendous vote of confidence in our team, vision and business model,” stated SocialVibe CEO Kurt Johnson. “JAFCO and Redpoint Ventures are quality venture firms that understand our business and have the experience to help us grow into a leading advertising and monetization solution for social media.”
