ExecOnline (EXO), a company that partners with business schools to launch online leadership development programs, has raised $18 million in Series C funding led by ABS Capital Partners. New Spring Capital, Osage Partners, Kaplan, and New Atlantic Ventures also participated in this round of funding.
“EXO is poised to continue playing a pivotal role in online leadership and development initiatives across the enterprise ecosystem,” said EXO founder and CEO Stephen Bailey. “In a world where talent is at a premium and the business environment is dynamic, organizations are looking to further develop their senior leaders with pragmatic programs that increase performance and retention. We look forward to working with ABS Capital as we scale our organization to deliver our solutions to more enterprises.”
EXO has partnerships in place with business schools such as Berkeley, Columbia, IMD, MIT, Wharton, and Yale. And EXO’s customers include 250 corporations that are mainly in the Fortune 1000.
The company’s programs focus on strategy, innovation, leadership, operations, and finance. And EXO is able to serve enterprises with a learning and development platform that is able to ensure consistency across a number of levels of the organization.
EXO is planning to use the funding to further develop its proprietary Learning & Development (L&D) program offerings and increase its sales and marketing efforts. In conjunction with the funding, ABS Capital general partner Ralph Terkowitz will be joining EXO’s board of directors.
“We were impressed by the company’s distinct approach to the market, with its premium curated programming, its deep experience with upper management levels, and the high marks it receives from its marquee corporate customers,” said Terkowitz in a statement. “ABS Capital, having successfully invested in several online education companies over the years, recognizes EXO as a leader in the corporate e-learning industry.”