June 22, 2009
VC Firm, Redpoint Ventures Leads $10 Million in Series A Funding for Online Tutoring Outfit, 2tor.
2tor announced today that it had just closed a $10 million investment in series A funding with Redpoint Ventures leading the funding. Other vc firms that took part in this round of funding include Novak Biddle Venture Partners and City Light Capital.
2tor is a unique company that serves college students and provides them the tools they need to benefit their education. The company was founded by dedicated education professionals who have deep experience in the education field. 2tor also provides students support for their offline curricula from the beginning of their college education all the way to graduation and has top of the line tools and web 2.0 technology that students can benefit from to supplement their course work online. 2tor also provides students with the necessary but more often than not overlooked logistical components for any given online program.
In the past, Signal Hill Capital was the sole investor in 2tor and the company welcomes the new investors and plans to use the proceeds from this funding to increase its resources for recruiting students and marketing. Furthermore, along with this round of funding, 2tor also brought Greg Martin onboard. Mr. Martin is a partner with Redpoint Ventures and Philip Bronner, who is a general partner with Novak Biddle Venture Partners. Both men well join 2torâ€™s board of directors.
Redpoint Ventures is a vc firm that teams up with extraordinary entrepreneurs, who want to build up exceptional companies. Some companies in Redpointâ€™s portfolio include Right Media, Netflix, Ask.com, Calix, and others.
For more information about 2tor, click here.
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