Lumen Learning, a Portland, Oregon-based provider of affordable courseware created using open educational resources (OER), raised $2.5m in equity funding.
The round was led by the Oregon Angel Fund (OAF) with participation from the Portland Seed Fund, Seattle’s Alliance of Angels, edtech entrepreneurs and investors Ray Henderson and Dave Mills, and intellectual property strategist Tom Rubin. In conjunction with the funding, Brad Zenger of the Oregon Angel Fund will join Lumen Learning’s Board of Directors along with Ray Henderson.
The company will use this the funds to to scale North American operations and increase student enrollments.
Led by CEO and co-founder Kim Thanos, Lumen Learning provides open courseware and support for institutions seeking to transition high enrollment courses to open educational resources (OER). Its courseware and support have been used by 60+ higher education institutions, including large U.S. community colleges.
The company is also a grantee in the Bill & Melinda Gates Foundation’s Next Generation Learning Challenge and Next Generation Courseware Challenge programs and received funding from the Hewlett Foundation and the Shuttleworth Foundation.
FinSMEs
02/04/2015