On Friday 4th December, Proversity will close a $1,600,000 (£1 million) investment round from the international technology venture capital company RSBC.
"This seed investment symbolises the culmination of a year of hard work by the Proversity team who have built a global network in London, Santiago, Boston and Cape Town. The Deputy High Commissioner of South Africa has been kind enough to host this signing and give us an opportunity to thank the edX Team at Harvard & MIT, Wayra Unltd and Google Campus. A special thanks is also going out to the Duke of York for his support through the Pitch at the Palace initiative." says Carl Dawson, Proversity CEO.
"Every one of these organisations has been tireless in promoting open education and UK technology companies through time, effort and investment - creating an environment to support and build great technology that is changing lives around the world," he adds.
"The funds will be used to take the company to the next level by focusing on key recruits in the sales, digital production and technology teams as well as underpinning the global reach of the platform." Chris Kottnauer, Partner RSBC GROUP.
This investment will also enabled the growth of software engineering and content production in a new state of the art facility in Cape Town. The move will enable Proversity to take on the US education technology giants by creating what CEO Carl Dawson describes as a "Hollywood for Digital Education." in the heart of the Silicon Cape. Award-winning UK digital learning company Proversity has worked on projects for a wide variety of clients including the Bank of England, the British Army, Lloyds Bank and Family Mosaic - delivering open professional development to a potential audience of millions and changing lives. RSBC plans to be actively involved in the support and development of the business and plans to hold its investment over a long-term horizon. Robert Schönfeld, the CEO of RSBC, will be joining the Board of Directors.