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Venture Capital News: creativeLIVE Raises $21.5M in Series B

2013-11-14
SEATTLE, WA, Live education platform, today announced that it has closed $21.5 million in Series B funding led by The Social+Capital Partnership.
creativeLIVE (www.creativeLIVE.com), the world's leading live education platform, today announced that it has closed $21.5 million in Series B funding led by The Social+Capital Partnership with participation by existing investor Greylock Partners. This latest round of financing follows the $7.5 million in Series A funding led by Greylock Partners in October 2012. The investment will enable creativeLIVE to accelerate its mission to connect students everywhere with the world's top experts through its unique live and socially-engaged education platform.

Ted Maidenberg, General Partner at The Social+Capital Partnership, is joining James Slavet, Partner at Greylock Partners, on the company's board of directors.

'The Social+Capital Partnership is excited to lead this round of financing that will enable creativeLIVE to expand its offering and bring the interactivity and creativity inherent in a live classroom setting to more students online,' said Maidenberg. 'creativeLIVE has the unique opportunity to disrupt the traditional education model by offering a better, more immersive learning experience while increasing access to high quality instruction. We are excited to be a part of the creativeLIVE team and to help drive growth for the company.'

'It's been a great experience working with the creativeLIVE team over the past 18 months, and seeing them rapidly emerge as an upstart in online education,' said Slavet. 'Millions of people have already learned real-life skills to better pursue their careers and passions through the creativeLIVE platform. While a lot has been written about the MOOCs and access to university-generated content, we believe the opportunities are even greater in the $100 billion continuing education space.'

Since its founding in 2010, over 2 million students from 200 countries have consumed more than 1 billion minutes of skill-based education on creativeLIVE. The platform offers freemium access to a library of more than 500 courses taught by world class experts across channels in photo, video & film, business, software, design, lifestyle and audio, with the company adding courses daily. The roster of instructors includes Pulitzer Prize winners, New York Times best-selling authors, Emmy nominees, cutting edge artists and founders/CEOs from innovative Fortune 500 companies.

'We have forged our own path in the education space. No one is offering online education that is live, social and, best of all, free. Top this off with the highest quality student experience and world renowned experts, and you can see why our approach is successful,' said Mika Salmi, CEO of creativeLIVE. 'With their focus on unlocking audience growth, The Social+Capital Partnership will be an incredible partner to help us continue to grow our audience as we expand our education platform into more channels and topics.'

For more information and to review class offerings, please visit: www.creativelive.com

About creativeLIVE

creativeLIVE is forging its own path in online education by connecting students everywhere with the world's top experts in a live, dynamic online classroom. creativeLIVE is transforming the $100 billion continuing education market by offering frictionless, freemium access to the best teachers in the world through its social video platform. The company was founded in April 2010 by renowned photographer, director and artist Chase Jarvis and entrepreneur Craig Swanson. creativeLIVE is led by CEO Mika Salmi, backed by Greylock Partners and The Social+Capital Partnership and has locations in Seattle and San Francisco.
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