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Elluminate secures venture debt financing from MMV financial
By siliconindia
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Bangalore: Elluminate, a Calgary, Alberta-based provider of solutions for real-time online learning and collaboration, has secured an undisclosed amount of venture debt funding from MMV Financial.
"We will use this financing to continue development of our best-in-class technology and open new channels for customers and partners," said Nashir Samanani, CEO and Founder of Elluminate. The company has completed a second sizeable investment from MMV Financial, a Toronto-based finance company providing debt solutions to technology and life sciences companies across North America.
Elluminate is a privately held company with around 200 employees working. Creating a collaborative environment for live remote training and online meetings, Elluminate's technology serves over 600 million web-collaboration minutes annually to over seven million teachers and students located in over 170 different countries. Elluminate has also announced the release of several new products to complement its existing products for the education market. Elluminate features VoIP (voice over internet protocol), interactive functionality for participants and moderators. According to Elluminate, its 'No User Left Behind' technology enables communication, collaboration, and education, regardless of platform or Internet connection speed.
