SOURCE: Echo360

October 14, 2008 09:00 ET

Echo360 Captures $15 Million in Second Round Funding

Investment to Increase Technology Leadership and Market Share

DULLES, VA--(Marketwire - October 14, 2008) - Echo360, the leader in campus-wide lecture capture for higher education, today announced it closed $15 million in Series B venture funding. Court Square Ventures led the round and current investors SCP Partners and SoftBank Capital participated. This announcement follows a year of unprecedented 300% year-over-year growth as the demand for lecture capture has exploded.

Echo360 is at the helm of higher education's Rewind Revolution, which is liberating lectures from lecture halls, creating exceptional educational engagement as students relive the classroom experience online. Born in the 1990s, today's college student is a driving force in the shift from traditional media viewing patterns to on-demand platforms. The learning styles of these students fit into the new paradigm of media consumption.

"Echo360 is at the forefront of a revolution in the way education is consumed," said Chris Holden, Managing Partner of Court Square Ventures. "The outstanding management team at Echo360 is working with professors, students, and institutions to define the new archetype of education. Court Square is privileged to work with this extraordinary group as they continue to build their rock-solid technology that will fundamentally alter how students access education."

A technology trailblazer, Echo360 invented campus-wide lecture capture for higher education. The EchoSystem platform is the first integrated software and hardware lecture capture solution. It includes the industry's only dedicated appliance for capturing lectures and other academic content. Echo360 continues to drive innovation that will alleviate the cost and technology barriers institutions face to offering lecture capture to all students.

Students at more than 300 institutions worldwide have access to Echo360 on-demand lectures. International clientele comprise 35% of Echo360's base with 47% of Australian universities and 50% of the United Kingdom's Russell Group on its client roster. Echo360 will use the recently raised funds to further expand its reach in the global education market, which is nearly four times the size of that in the United States, with a focus on Western Europe, Latin America, Asia and the Middle East.

"Echo360 has long held an ambitious vision for lecture capture in every classroom in every corner of the globe," said Fred Singer, Echo360 CEO. "In Court Square, we have a partner that believes in our big vision, has a deep understanding of the education market and embraces our mission to bring real change to how education is delivered."

About Echo360

Echo360 envisions an opportunity for every student to be freed from traditional barriers to learning with an on-demand education experience. Full-time, part-time, distance, continuing, and online all describe today's student living in a 24/7 world. On-demand media and education converge at the newly-formed Echo360, helping colleges and universities engage students on the students' terms with full and unbounded access to classroom-based content via multiplatform replay. Developed in partnership with the University of Western Australia, Echo360 means scalable and affordable lecture capture solutions that can provide institutions of all sizes with universal availability of lecture content. Log on to the site: echo360.com.

Contact Information

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