AI-Based Knowledge Management Company EdCast Raises $35 Million

By Dan Anderson ● Dec 13, 2019
  • EdCast, an AI-powered personalized learning and knowledge management platform, announced it raised $35 million in Series D funding

EdCast — an AI-powered personalized learning and knowledge management platform for enterprise customers — announced that it closed $35 million in Series D funding led by Avathon Capital. New investor National Grid Partners and existing EdCast investors, including State Street Global Advisors, REV Venture Partners, and several others also joined this round.

Avathon will also support EdCast as it expands and accelerates its market and product development efforts to provide enhanced corporate learning and upskilling content for its two million paid users.

And exponential technologies such as AI and automation are driving digital disruption across all industries. So it is crucial for companies to embrace a culture of learning and upskilling with a corporate growth mindset.

EdCast’s AI-powered Knowledge Cloud provides a scalable and extensive platform that drives knowledge discovery with personalized content to enhance productivity and foster learning. And as the responsibilities for training, educating and developing employees continues to shift to employers, EdCast’s products and solutions have been bringing increasing levels of upskilling into digital workplaces.

EdCast pioneered these functions by integrating them directly into the flow of work so its corporate learning solutions are seamlessly woven in to the software and tools employees use every day such as Google Search, Microsoft Office, Microsoft Teams, Salesforce, Slack, ServiceNow, VMware, and others.

“With business changing faster than ever, organizations around the world are now facing an urgent need to empower their employees with knowledge, learning, and upskilling,” said EdCast founder and CEO Karl Mehta. “EdCast’s Future of Work innovations and leadership in delivering employee experience solutions to enterprises are attracting rapidly-growing customer and partner interest. So we are thrilled to now be partnering and working with Avathon Capital, which brings three decades of expertise and connections to EdCast that will help us continue to expand.”

And EdCast’s platform is used internationally by large government organizations, including Hewlett Packard Enterprise, Dell EMC, ANZ Bank, Schneider Electric, Jefferson Health, Mars, NASSCOM, and the World Economic Forum to help employees reach their full potential by providing the content, learning, and knowledge they need when they need it and in the flow of work.

“There is an urgent need to drive better alignment between learning outcomes and employment requirements. In the current environment, corporate leaders are taking the necessary steps to ensure that their talent strategies align with their business strategies,” added Shoshana Vernick, Managing Director and co-founder of Avathon. “I met Karl over two years ago and have watched EdCast evolve from a start-up pioneer to a market leader. Karl and his team have the vision, courage, and empathy required to bring the right solutions forward to this evolving market.”

With this round of funding, EdCast is going to use the latest funding round to continue expanding its Knowledge Cloud, Content Marketplace, and MyGuide product offerings. And the company will also continue hiring talented individuals who can serve its growing roster of customers and users across a number of positions, including sales, marketing, and product engineering.