Online education platform OpenLearning.com has landed an additional $1.7 million in funding to expand its offering into Asia.
Leading the round, entrepreneur Clive Mayhew has invested $1 million into the company and will take on the role of non-executive director and Chairman.
The other $700,000 was chipped in by ICS Global, Robin and Susan Yandle and director of Japanese education company Benesse Holdings Hideaki Fukutake as well as efu Investment.
Openlearning co-founder Adam Brimo said: “I’m grateful for the support of our investors and I’m personally looking forward to working with Clive to make OpenLearning the leading online education platform in Asia.”
The latest round of funding will be used to double the size of its engineering team, develop business models for commercial users and build marketshare in Australia, Malaysia and China this year.
The company which was started in Telstra’s startup accelerator muru-D has secured a total of $2.1 million in funding to date.
“All of us here at muru-D are thrilled that OpenLearning, who participated in our inaugural accelerator program, has secured further funding to grow and expand their business,” muru-D co-founder Ann Parker said.
“It’s great to see startups flourish, especially when they are like family to us here at muru-D.
“We are also proud that Telstra is fully committed to supporting and growing entrepreneurial talent and giving those founders the platform they need to develop their ideas both in Australia and on the international stage.”
Aiming to change the way teachers provide education, OpenLearning is used by 125,000 students across 200 countries. It’s targeting one million users before the year is out.