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Karl Mehta founded Edcast Secures $6 Million Funding
Karl Mehta
Founder & CEO -EdCast Inc.
Sunday, October 5, 2014
Mountain view, CA, based EdCast, a Stanford StartX company that creates Knowledge Cloud platforms for institutions, educators, enterprises and governments worldwide to collaborate with each other, has raised $6 million Series A round of financing led by SoftBank Capital.

Other investors joining with SoftBank Capital are Mitch Kapor (Kapor Capital), Menlo Ventures, Novel TMT Ventures, Cervin Ventures, Aarin Capital, NewSchools Venture Fund/ CoLab, and the Stanford StartX Fund.

"These investments represent a quantum jump to let data-rich and personalized Knowledge Clouds enable higher education institutions and top educators to deliver their content globally with sustainable business models," says Karl Mehta, Founder & CEO of EdCast Inc. and most recently founder & CEO of PlaySpan, acquired by VISA. "With EdCast, we'll see the rise of the "multiversity" where hundreds of campuses interconnected through public and private hosted clouds offer the best curriculum from major institutions in the U.S. and around the world."

The Series A financing builds on an exceptional month for EdCast which earlier announced its first project with United Nations'Sustainable Development Solutions Network, linking more than 200 institutions worldwide.

"We are thrilled with the capabilities of the EdCast Knowledge Cloud platform and its approach to open and scalable education,"says Mary Lou Forward, Executive Director of Open Education Consortium based in Newton, MA. "We have been looking for innovative educational solutions to help our 300+ institution partners achieve their vision for open education. The EdCast platform provides a tremendous amount of flexibility to satisfy our various use cases including blended learning, for credit/continuing education credits, paid/free,amomgst others., and we are especially excited about the multi-institutional collaboration and learning capabilities."

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