Grovo secures $40m funding round


Grovo, a learning solutions provider to the enterprise, has raised $40 million in Series C funding led by existing investor Accel. Cosanoa Venture Capital, SoftTech VC, Greg Waldorf and new investor Vayner Capital also participated in the funding round. Grovo will use the funds to expand its product offering and plans to expand its New York headquarters and invest in a round of executive hires. The company has now raised $65 million in total. “Accel has deep experience funding companies that are pioneering new technology and transforming industries,” said Sameer Gandhi, partner at Accel and member of Grovo’s board of directors. “Grovo has created a highly scalable business model that integrates learning technology, groundbreaking video content, and best-in-class service to address the talent needs of today’s organizations. We think Grovo is well positioned to continue to capitalize on the large growth opportunities in the $130 billion corporate training space.”

Video platform Vidyard has closed a Series C financing round worth $35 million. Battery Ventures led the round, with participation from existing investors Bessemer Venture Partners, Salesforce Ventures, OMERS Ventures, iNovia Capital and SoftTech VC. “Video is revolutionizing marketing, and Vidyard is clearly innovating in this space,” said Michael Brown, general partner at Battery Ventures. “We’re convinced that video will not only grow as a strategic platform for marketing and sales, but also as a critical solution for other business functions across every industry. Vidyard can help businesses realize the full potential of video, not just as a content medium, but as an incredible source of business analytics and customer insight.”

Internet measurement and optimization company Cedexis has closed a $22 million Series B financing round led by Ginko Ventures. Foxconn, Nokia Growth Partners, Citrix System Ventures and existing investors Advanced Technology Ventures and Madrona Ventures all participated. “The web is now at the core of value delivery in almost every industry, making web performance mission critical for most enterprises. Cedexis dramatically increases an enterprise’s ability to improve their users’ Quality of Experience (QoE) over shared ‘best effort’ networks and clouds,” said Scott Grout, CEO of Cedexis.

Jitterbit, which provides open source data integration software for the enterprise, has raised $20 million in Series B funding led by KKR.  “This investment jumpstarts a new era for Jitterbit as we grow to meet the expanding demands of companies around the world that need to connect legacy IT with new applications that are powering the modern digital economy,” said Jitterbit CEO George Gallegos. “We’re excited to partner with KKR to take the company to the next level and deliver innovative solutions designed to help professionals in any industry achieve more with technology.”