EdCast, a Stanford StartX company empowering individuals, teams and organizations using the EdCast Knowledge Media & Intelligence Network, has completed a $16 million round of financing led by GE Asset Management. Other investors joining GE Asset Management include SoftBank Capital, Cervin Ventures, Stanford StartX Fund and Penta Global. This new capital comes in addition to $6 million Series A round led by Softbank Capital in late 2014.
“We are laser focused on our mission to expand the knowledge economy with curated, contextual bite size knowledge,” said Karl Mehta, Founder & CEO of EdCast. “Millennials in the workplace along with the complexity of engaging and educating customers and partners is creating the need for daily relevant insights from the world’s foremost experts and influencers in a variety of industries, from tech, health, financial services, highered, entrepreneurship and expanding to telecom, banking, media, retail.”
“We are excited about EdCast’s vision, innovation, and the disruptive power of its technology in enterprise knowledge discovery, sharing and learning,” said Carlos Monfiglio, partner at GE Asset Management. “The list of Fortune 500 companies using EdCast is impressive and we believe the Company is on its way to defining and leading a new category in enterprise knowledge and intelligence.”
The Series B financing builds on an exceptional month of growth for EdCast, which earlier announced a partnership with HP to power its HP LIFE knowledge community of over 500,000 users worldwide and other large Fortune 100 companies like GE, Salesforce, and EMC.
The Company is based in Mountain View CA, with offices worldwide.
Karl Mehta is a serial entrepreneur, investor, engineer, author and civil servant with over 20 years of experience in founding, building and funding technology companies in the U.S. and international markets. He is currently the founder & CEO of EdCast Inc, graduated from Bombay University, in electronics engineering with a dream to go to the United States to study and make it big in the technology space. Apart from being the Venture Partner at Menlo Ventures, he is also the founder of Code For India – a Silicon Valley-based tech-driven non-profit organisation. Previously, he founded a company called PlaySpan Inc., which was acquired by Visa in March 2011, for about $240 million.