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Singapore's EDBI and Linden Venture Fund Join Round Bringing Total to $25 Million
PALO ALTO, Calif., June 11, 2014 /PRNewswire/ -- Declara today announced additional Series A financing with $9 million in backing from Singapore's EDBI and Linden Venture Fund based in Chicago. The new funds bring Declara's total Series A round, led by GSV Capital, to $25 million.
Declara, a company building technology for personalized learning, will use the new funds to broaden its distribution footprint in Asia. In addition to opening an office in Singapore, the company will continue to strengthen its current position in the United States and Latin America. EDBI and Declara plan to collaborate on introducing the Declara platform to Asia.
The Declara technology platform is already being used by Australia for the country's teachers to learn new skills; SNTE (Sindicato Nacional de Trabajadores de la Educacion), Mexico's largest teacher's union to train 1.6 million teachers and administrators; and Tu clase, tu pais in Chile; among others. The technology platform uses semantic search, predictive analytics and machine learning to surface the right content at the right time for individuals, making learning more personalized and discovery oriented.
"Countries are recognizing that learning must be seen as a constant in people's lives and is one of the most important catalysts to continue moving a country forward," said Ramona Pierson, founder and CEO of Declara. "We are very excited to be collaborating with EDBI to achieve our mission by drawing upon its broad network to drive our growth in Asia."
Declara, founded in 2012, is focused on developing technology for personalized learning. The company's platform uses semantic search, algorithms and recommendations to develop specific learning paths for individuals, making learning a constant discovery. Declara is headquartered in Palo Alto with offices in Boise, Idaho, and Mexico. Its investors include GSV Capital, Data Collective, Founders Fund, EDBI, Catamount Ventures, Linden Venture Fund and Peter Thiel among others. For more information, visit www.declara.com and follow us at @declara.
Mark de la Vina
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