socialmedian: Online Education Firm 2tor Raises $10 Million

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Online Education Firm 2tor Raises $10 Million

Source: paidContent.org

Jun 22, 2009

Summary

2tor, which helps universities set up online degree programs, has raised $10 million in a first round of funding led by Redpoint Ventures. Novak Biddle Venture Partners and City Light Capital also participated in the round. The company offers both technology platforms for online degree programs, as well as logistic services, such as student support and recruiting. It is led by John Katzman, who founded test prep company The Princeton Review. More after the jump.

2tor said that it would use the new funds to increase spending on student recruitment efforts and marketing. So far, 2tor has helped launch one program—an online master of arts in teaching program at the University of Southern California—although it hints in a release that a second is on the way.