The AI-based contextual insight service has closed a $33.6m round that included Stanford University, taking its total funding to almost $56m.

US-based cloud learning platform developer EdCast has secured $33.6m in a funding round that included Stanford University. Diversified conglomerate Crescent Enterprises, analytics services provider Relx and telecoms and internet group SoftBank also took part, as did investment manager State Street Corporation’s State Street Global Advisors, London Fund, Mistletoe, Cervin Ventures and undisclosed others. SoftBank and Relx invested through SoftBank Capital and REV respectively. EdCast provides a cloud-based service that uses artificial intelligence and machine learning to aggregate content and provide continuous learning recommendations. It also provides a marketplace where learning content providers can connect with organisations to offer information and resources for upskilling. The company closed a $16m round led by GE Asset Management, a subsidiary of industrial and appliance manufacturing group General Electric, in 2016, which included Stanford-StartX Fund, SoftBank Capital, engineering and construction services provider Penta Global and Cervin Ventures. SoftBank had previously led EdCast’s $6m series A round in late 2014, which also featured Stanford-StartX Fund, telecoms company Novel Group’s corporate venturing unit, Novel TMT Ventures, as well as Cervin, Kapor Capital, Menlo Ventures, Aarin Capital and NewSchools Venture Fund. Karl Mehta, chief executive and founder of EdCast, said: “With this funding, along with achieving these milestones and partnerships, EdCast’s focus on providing knowledge and training fully integrated in the flow of work is coming to fruition faster than ever.” – A version of this article first appeared on our sister site, Global Corporate Venturing.

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